The economics of missing markets, information, and games

書誌事項

The economics of missing markets, information, and games

edited by Frank Hahn

Clarendon Press , Oxford University Press, 1989

  • : pbk

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注記

Bibliography: p. [477]-505

Includes index

内容説明・目次

巻冊次

: pbk ISBN 9780198283218

内容説明

One of Britain's foremost economists led this collective effort by many other distinguished economists to extend the important Walrasian General Equilibrium Model which is at the core of modern economic analysis. The model is acknowledged as having left many important questions unanswered. This book provides answers that are of considerable relevance to our view of a decentralized economy. In particular it tackles the question of imperfect information and its effects on markets and economic agents' behaviour. The book raises general issues about incomplete markets; discusses some outstanding problems in game theory; discusses information and decision making; focuses on contracts, and on dynamics and intertemporal economics using overlapping generation models; and explores the relationship between micro and macro economics.

目次

  • Introduction
  • PART I. Kreps: Out-of-equilibrium beliefs and out-of-equilibrium behaviour
  • Brandenberger, Dekel: The role of common knowledge assumptions in game theory
  • Sabourian: Repeated Games: A survey
  • Hahn: Information Dynamics
  • PART II. Dasgupta: The economics of parallel research
  • Doyle: Strategy variables and theories of industrial organization
  • Canning: Bargaining theory
  • PART III. Newbery: Missing Markets: Consequences and remedies
  • Bray: Rational expectations, information, and asset markets
  • Machina: Decision-making in the presence of risk
  • PART IV. Anderlini: Theoretical modelling of banks and bank runs
  • Masking, Riley: Optimal multi-unit auctions
  • Worrall: Labour contract theory
  • PART V. Kehoe: Intertemporal general equilibrium models
  • Burnel: Sunspots
  • Kelsey: An introduction to nonlinear dynamics and its application to economics
  • PART VI. Thomas: Some micro and macro implications of inventories
  • Modica: Business cycles in equilibrium: An example
  • Makowski: Keynes's liquidity preference theory: A suggested re-interpretation
巻冊次

ISBN 9780198286158

内容説明

This book aims to provide new insights into a range of theoretical economic issues and to extend the Walrasian General Equilibrium Model, which is at the core of modern economic analysis. The book identifies many gaps in theories, especially those concerned with imperfect information and its effect on markets and economic agents' behaviour. The book is divided into six parts: the first raises general issues about incomplete markets; the second discusses some outstanding problems in game theory; the third is concerned with information and decision-making; the fourth focuses on contracts; the fifth on dynamics and intertemporal economics using overlapping generations models and the sixth explores the relationship between micro and macro economics. The team of contributors includes a number of distinguished economists from Cambridge and the United States, as well as a group of younger researchers who have been members of a project entitled "Information, Risk and Quantity Signals in Economics", at the University of Cambridge.

目次

  • Part 1: out-of-equilibrium beliefs and out-of-equilibrium behaviour, David M.Kreps
  • the role of common knowledge assumptions in game theory, Adam Brandenburger and Eddie Dekel
  • repeated games - a survey, H.Sabourian
  • information dynamics and equilibrium, Frank Hahn. Part 2: the economics of parallel research, Partha Dasgupta
  • strategy variables and theories of industrial organization, Christopher Doyle
  • bargaining theory, David Canning
  • imperfect competition and international trade, K.Gatsios. Part 3: missing markets - consequences and remedies, David M.Newberry
  • rational expectations, information and asset markets, Margaret Bray
  • decision-making in the presence of risk, Mark J.Machina. Part 4: theoretical modelling of banks and bank runs, Luca Anderlini
  • optimal multi-unit auctions, Eric Maskin and John Riley
  • labour contract theory, Tim Worrall. Part 5: intertemporal general equilibrium models, Timothy J.Kehoe
  • sunspots, Stephen Burnell
  • an introduction to nonlinear dynamics and its application to economics, David Kelsey. Part 6: some micro and macro implications of inventories, J.P.Thomas
  • Keynes's liquidity preference theory - a suggested reinterpretation, Louis Makowski.

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