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The Core For Economies With Asymmetric Information
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Book Synopsis The Core of Economies with Asymmetric Information by : Ulrich Schwalbe
Download or read book The Core of Economies with Asymmetric Information written by Ulrich Schwalbe and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: and should therefore constitute a part of every area of economic 3 theory. The spectrum covered by information economics today ranges from Stigler's search theory4 to industrial economics, including oligopoly theory, innovation, as well as research and develop 5 ment. However, the area information economics is most closely connected with is the theory of optimal contracts, mainly ana 6 lyzed in principal-agent models. Contract theory deals primar ily with the question of how optimal arrangements (contracts) for the purchase and sale of commodities and services between two or more agents should be structured. In these models, it is often assumed that the parties to the contract are informed differently or asymmetrically about relevant variables (e. g. the health of one party in the case of insurance contracts, or the effort in relation to employment contracts). As a result of this asymmetric in formation, phenomena such as moral hazard, adverse selection, signaling, and screening may arise. Frequently, results from con tract theory are referred to when making statements about the effects of asymmetric information on an economy. Models of this kind are often used to explain phenomena such as fixed wages or unemployment, among others. 7 However, such conclusions must be treated with caution for two reasons. In the first place, in these models, a contract (explicit or implicit) is determined by the solution of an optimization prob lem.
Book Synopsis The Core for Economies with Asymmetric Information by : Darin Lee
Download or read book The Core for Economies with Asymmetric Information written by Darin Lee and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose two generalizations of the Davis and Maschler (1965) reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's (1978) Coarse Core and the other is a subsolution of it which we call the Coarse+ Core.
Book Synopsis Differential Information Economies by : Dionysius Glycopantis
Download or read book Differential Information Economies written by Dionysius Glycopantis and published by Springer Science & Business Media. This book was released on 2005-12-28 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main problems in current economic theory is to write contracts which are Pareto optimal, incentive compatible, and also implementable as a perfect Bayesian equilibrium of a dynamic, noncooperative game. The question arises whether it is possible to provide Walrasian type or cooperative equilibrium concepts which have these properties. This volume contains original contributions on noncooperative and cooperative equilibrium notions in economies with differential information and provides answers to the above questions. Moreover, issues of stability, learning and continuity of alternative equilibria are also examined.
Book Synopsis Balancedness and the Core in Economies with Asymmetric Information by : S. Maus
Download or read book Balancedness and the Core in Economies with Asymmetric Information written by S. Maus and published by . This book was released on 2001 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on the Core of Economies with Asymmetric Information by : Darin Lee
Download or read book Essays on the Core of Economies with Asymmetric Information written by Darin Lee and published by . This book was released on 1998 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Balancedness and the Core in Economics with Asymmetric Information by : S. Maus
Download or read book Balancedness and the Core in Economics with Asymmetric Information written by S. Maus and published by . This book was released on 2001 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Economies with Asymmetric Information by : Stefan Maus
Download or read book Exchange Economies with Asymmetric Information written by Stefan Maus and published by . This book was released on 2002 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Core of a Production Economy with Asymmetric Information by : Isabelle Lefebvre
Download or read book The Core of a Production Economy with Asymmetric Information written by Isabelle Lefebvre and published by . This book was released on 1997 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Type-Agent Core for Exchange Economies with Asymmetric Information by : Geoffroy de Clippel
Download or read book The Type-Agent Core for Exchange Economies with Asymmetric Information written by Geoffroy de Clippel and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The type-agent core is a new solution concept for exchange economies with asymmetric information. It coincides with the set of equilibrium outcomes of a simple competitive screening game. Uninformed intermediaries help the agents to cooperate in an attempt to make some profit. The paper extends the work of Perez-Castrillo (1994) to exchange economies with non-transferable utility and asymmetric information. The type-agent core is a subset of Wilson (1978)'s coarse core. It is never empty, even though it may be a strict subset of Wilson's fine core. In addition, it converges towards the set of constrained market equilibria as the economy is replicated.
Book Synopsis A Course in Public Economics by : John Leach
Download or read book A Course in Public Economics written by John Leach and published by Cambridge University Press. This book was released on 2004 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2004 textbook explores how markets operate and governments' roles in addressing market failures.
Download or read book The Economy written by The Core Team and published by Core Economics Education. This book was released on 2022-07 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A complete introduction to economics and the economy taught in undergraduate economics and masters courses in public policy. CORE's approach to teaching economics is student-centred and motivated by real-world problems and real-world data. The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics. THE ECONOMY: is a new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioural economics, and financial instability; challenges students to address inequality, climate change, economic instability, wealth creation and innovation, and other problems; provides a unified treatment of micro- and macroeconomics; motivates all models and concepts by evidence and real-world applications.
Book Synopsis Market Games with Asymmetric Information by : Beth Elaine Allen
Download or read book Market Games with Asymmetric Information written by Beth Elaine Allen and published by . This book was released on 1992 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Games with Asymmetric Information by : Beth Elaine Allen
Download or read book Market Games with Asymmetric Information written by Beth Elaine Allen and published by . This book was released on 1992 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asymmetric Information, Corporate Finance, and Investment by : R. Glenn Hubbard
Download or read book Asymmetric Information, Corporate Finance, and Investment written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Book Synopsis Market Games with Asymmetric Information by : Beth Elaine Allen
Download or read book Market Games with Asymmetric Information written by Beth Elaine Allen and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A General Nonemptiness Result of the Core of a Production Economy with Asymmetric Information by : Isabelle Lefebvre
Download or read book A General Nonemptiness Result of the Core of a Production Economy with Asymmetric Information written by Isabelle Lefebvre and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incentives in Market Games with Asymmetric Information by : Beth Allen
Download or read book Incentives in Market Games with Asymmetric Information written by Beth Allen and published by . This book was released on 1991 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
