The theory of markets
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Bibliographic Information
The theory of markets
(Verhandelingen der Koninklijke Nederlandse Akademie van Wetenschappen, Afdeeling Letterkunde, nieuwe reeks ; d. 177)
North-Holland, 1999
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Note
"Proceedings of the Colloquium 'Theory of Markets and Their Functioning' Amsterdam, 1-3 July 1998"
"Supported by CentER for Economic Research, Tilburg, Tinbergen Research Institute, Amsterdam-Rotterdam"
"Royal Nehterlands Academy of Arts and Sciences"
Includes bibliographical references
Description and Table of Contents
Description
Is an equilibrium reached in a de-centralized economy, and if so, what type of equilibrium? What happens if price formation is subject to rigidities? What are the consequences of missing markets, for example for future commodities? Which markets evolve in case of bounded rationality, incomplete information and externalities? How should markets be regulated? How does monetary policy affect the functioning of markets? By addressing these and similar questions, this text attempts to answer some of the central questions in economic theory - how do markets operate and do they function at all in allocating scarce commodities and resources?
Table of Contents
- On the dynamics of supply-constrained equilibria, J.H. Dreze
- price-quantity adjustment in a Keynesian economy, P.J.-J. Herings, et al
- core equivalence in a mixed economy, V.A. Vasil'ev
- do we model the correct market information?, D.G. Saari
- rational animal spirits, W.A. Brock, C.H. Hommes
- an evolutionary model of market structure, C. Alos-Ferrer, et al
- on multiplicity of competitive equilibria when financial markets are incomplete, T. Hens, et al
- the impact of portfolio constraints in infinite-horizon incomplete-markets models, K.L. Judd, et al
- risk sharing and market incompleteness, D.K. Levine, W.R. Zame
- a note on the convergence to competitive equilibria in economies with moral hazard, A. Bisin, et al
- macroeconomic equilibrium in a monetary economy
- H. Polemarchakis, J.-P. Vidal
- positional abilities and rents on equilibrium wages, P.H.M. Ruys, R. van den Brink
- modelling producer decisions in a spatial continuum, M. Keyzer, Y. Ermoliev
- carbon abatement, revenue Recycling and intergenerational burden sharing, T.F. Rutherford, et al.
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