Download or read book Axiomatic Theory of Economics written by Victor Aguilar and published by Nova Biomedical Books. This book was released on 1999 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about economic theory. It is not, however, a simplified version of mainstream economics; mainstream economics is simpleminded enough already. It is certainly not in the "how to be a salesman" genre, nor does it propose to tell the reader how to make money in the framework of current financial institutions. It is an abstract treatise. The purpose of this book is to give an axiomatic foundation for the theory of economics.
Download or read book Theory of Value written by Gerard Debreu and published by Yale University Press. This book was released on 1959-01-01 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imprint date varies. Includes bibliography.
Download or read book Theory of Value written by Gerard Debreu and published by New Haven : Yale University Press, c1959, 1973 printing.. This book was released on 1959 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imprint date varies. Includes bibliography.
Download or read book Toward a Formal Science of Economics written by Bernt P. Stigum and published by MIT Press. This book was released on 1990 with total page 1068 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer Law and Practice provides undergraduate students and those studying the LPC with concise yet comprehensive guidance. It is also a useful aid for practitioners (including those advising businesses) and non-lawyers requiring information which can be quickly understood. Using an innovative problem-solving approach to the subject, we focus on situations in which clients may find themselves and explain how the law deals with such situations. "Between the covers is a mine of information clearly and accurately set out ... a valuable tool for non-specialist and specialist alike." The Law Society's Gazette
Download or read book Axiomatic Bargaining Game Theory written by H.J. Peters and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many social or economic conflict situations can be modeled by specifying the alternatives on which the involved parties may agree, and a special alternative which summarizes what happens in the event that no agreement is reached. Such a model is called a bargaining game, and a prescription assigning an alternative to each bargaining game is called a bargaining solution. In the cooperative game-theoretical approach, bargaining solutions are mathematically characterized by desirable properties, usually called axioms. In the noncooperative approach, solutions are derived as equilibria of strategic models describing an underlying bargaining procedure. Axiomatic Bargaining Game Theory provides the reader with an up-to-date survey of cooperative, axiomatic models of bargaining, starting with Nash's seminal paper, The Bargaining Problem. It presents an overview of the main results in this area during the past four decades. Axiomatic Bargaining Game Theory provides a chapter on noncooperative models of bargaining, in particular on those models leading to bargaining solutions that also result from the axiomatic approach. The main existing axiomatizations of solutions for coalitional bargaining games are included, as well as an auxiliary chapter on the relevant demands from utility theory.
Download or read book Theory of Value written by Gérard Debreu and published by . This book was released on 1973 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Axiomatic Models of Bargaining written by A.E. Roth and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problem to be considered here is the one faced by bargainers who must reach a consensus--i.e., a unanimous decision. Specifically, we will be consid ering n-person games in which there is a set of feasible alternatives, any one of which can be the outcome of bargaining if it is agreed to by all the bargainers. In the event that no unanimous agreement is reached, some pre-specified disagree ment outcome will be the result. Thus, in games of this type, each player has a veto over any alternative other than the disagreement outcome. There are several reasons for studying games of this type. First, many negotiating situations, particularly those involving only two bargainers (i.e., when n = 2), are conducted under essentially these rules. Also, bargaining games of this type often occur as components of more complex processes. In addi tion, the simplicity of bargaining games makes them an excellent vehicle for studying the effect of any assumptions which are made in their analysis. The effect of many of the assumptions which are made in the analysis of more complex cooperative games can more easily be discerned in studying bargaining games. The various models of bargaining considered here will be studied axioma- cally. That is, each model will be studied by specifying a set of properties which serve to characterize it uniquely.
Download or read book Modeling Foundations of Economic Property Rights Theory written by Vesna Pasetta and published by Springer Science & Business Media. This book was released on 2006-03-30 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an introduction to the foundations of economic property rights t- ory (EPRT). In this volume, a ?rst step in the EPRT research program, rules concerningeconomicpropertyrights(e. p. r. s),entrepreneurialagreements,and enterprises are discussed. Introduced concept of e. p. r. s is an extension of the traditional concept of pairing of residual rights of control and residual rights of returns in the economic theory. Its importance in economics is generated fromageneralimpossibilityofmakingacompletecontract,concerninge. p. r. s, for any nontrivial economic transaction. The volume o?ers a theoretical - tension of mathematical economics, applying recent results of Hopf algebras, quasi-Hopf algebras, representation theory, theory of categories, and defor- tion theories, in looking for suitable mathematical methodology of economic property rights theories and foundations of general theory of economic agr- ments. The idea is to construct a kind of mathematical application in which any fundamental formal entity and/or operation has an empirical economic interpretation. This approach is seen as a way to cope with an extreme c- plexity of economic phenomena under consideration and requests for precise formulationofmodelswheremeaningfulanswersandsolutionsofproblemsare only those which are obtained rigorously. The proposed extensions in ma- ematical economics and property rights theory are to provide rich enough foundations to follow complexity of economic property rights in the exact way, and to identify where there is an appropriate method providing a- quate solution, and also to ?nd problems where in general there is no such methodology.
Download or read book Economic Theory of Fuzzy Equilibria written by Antoine Billot and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fuzzy set theory, which started not much more than 20 years ago as a generalization of classical set theory, has in the meantime evolved into an area which scientifically, as well as from the point of view of applications, is recognized as a very valuable contribution to the existing knowledge. This book provides a remarkable contribution to Fuzzy Economics and presents the state of the art in fuzzy theory of value, namely the aggregated model of microeconomics with fuzzy behaviours. It presents an analysis of classical problems with new tools which lead to interesting results.
Download or read book The Axiomatics of Economic Design Vol 1 written by William Thomson and published by Springer Nature. This book was released on with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Ideas You Should Forget written by Bruno S. Frey and published by Springer. This book was released on 2017-03-08 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reporting on cutting-edge advances in economics, this book presents a selection of commentaries that reveal the weaknesses of several core economics concepts. Economics is a vigorous and progressive science, which does not lose its force when particular parts of its theory are empirically invalidated; instead, they contribute to the accumulation of knowledge. By discussing problematic theoretical assumptions and drawing on the latest empirical research, the authors question specific hypotheses and reject major economic ideas from the “Coase Theorem” to “Say’s Law” and “Bayesianism.” Many of these ideas remain prominent among politicians, economists and the general public. Yet, in the light of the financial crisis, they have lost both their relevance and supporting empirical evidence. This fascinating and thought-provoking collection of 71 short essays written by respected economists and social scientists from all over the world will appeal to anyone interested in scientific progress and the further development of economics.
Download or read book Notes On The Theory Of Choice written by David Kreps and published by Routledge. This book was released on 2018-05-04 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Professor Kreps presents a first course on the basic models of choice theory that underlie much of economic theory. This course, taught for several years at the Graduate School of Business, Stanford University, gives the student an introduction to the axiomatic method of economic analysis, without placing too heavy a demand on mathematical sophistication.The course begins with the basics of choice and revealed preference theory and then discusses numerical representations of ordinal preference. Models with uncertainty come next: First is von Neumann?Morgenstern utility, and then choice under uncertainty with subjective uncertainty, using the formulation of Anscombe and Aumann, and then sketching the development of Savage's classic theory. Finally, the course delves into a number of special topics, including de Finetti's theorem, modeling choice on a part of a larger problem, dynamic choice, and the empirical evidence against the classic models.
Download or read book Models in Microeconomic Theory written by Martin J. Osborne and published by Open Book Publishers. This book was released on 2023-06-26 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
Download or read book How Economics Became a Mathematical Science written by E. Roy Weintraub and published by Duke University Press. This book was released on 2002-05-28 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: In How Economics Became a Mathematical Science E. Roy Weintraub traces the history of economics through the prism of the history of mathematics in the twentieth century. As mathematics has evolved, so has the image of mathematics, explains Weintraub, such as ideas about the standards for accepting proof, the meaning of rigor, and the nature of the mathematical enterprise itself. He also shows how economics itself has been shaped by economists’ changing images of mathematics. Whereas others have viewed economics as autonomous, Weintraub presents a different picture, one in which changes in mathematics—both within the body of knowledge that constitutes mathematics and in how it is thought of as a discipline and as a type of knowledge—have been intertwined with the evolution of economic thought. Weintraub begins his account with Cambridge University, the intellectual birthplace of modern economics, and examines specifically Alfred Marshall and the Mathematical Tripos examinations—tests in mathematics that were required of all who wished to study economics at Cambridge. He proceeds to interrogate the idea of a rigorous mathematical economics through the connections between particular mathematical economists and mathematicians in each of the decades of the first half of the twentieth century, and thus describes how the mathematical issues of formalism and axiomatization have shaped economics. Finally, How Economics Became a Mathematical Science reconstructs the career of the economist Sidney Weintraub, whose relationship to mathematics is viewed through his relationships with his mathematician brother, Hal, and his mathematician-economist son, the book’s author.
Download or read book Philosophy of Mathematics and Economics written by Thomas A. Boylan and published by Routledge. This book was released on 2018-04-09 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the failure of economics to predict the recent economic crisis, the image of economics as a rigorous mathematical science has been subjected to increasing interrogation. One explanation for this failure is that the subject took a wrong turn in its historical trajectory, becoming too mathematical. Using the philosophy of mathematics, this unique book re-examines this trajectory. Philosophy of Mathematics and Economics re-analyses the divergent rationales for mathematical economics by some of its principal architects. Yet, it is not limited to simply enhancing our understanding of how economics became an applied mathematical science. The authors also critically evaluate developments in the philosophy of mathematics to expose the inadequacy of aspects of mainstream mathematical economics, as well as exploiting the same philosophy to suggest alternative ways of rigorously formulating economic theory for our digital age. This book represents an innovative attempt to more fully understand the complexity of the interaction between developments in the philosophy of mathematics and the process of formalisation in economics. Assuming no expert knowledge in the philosophy of mathematics, this work is relevant to historians of economic thought and professional philosophers of economics. In addition, it will be of great interest to those who wish to deepen their appreciation of the economic contours of contemporary society. It is also hoped that mathematical economists will find this work informative and engaging.
Download or read book Axiomatic choice models and duality written by H.N. Weddepohl and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every day people frequently have to make a choice. For practical and scientific reasons therefore it is interesting to know what choices they make and how they arrive at them. An approach to this question can be made via psychology. However, it is also possible to approach it on a more formal basis. In this book Dr. Wedde pohl describes the logical structure of an individual's rational choice. It is this formal, logical approach to the decision problem that makes the book interesting reading matter for all those who are engaged in the study of individual choice. The introduction apart this study may be divided into two parts. The first part, consisting of chapters II and III, deals with choice theory on a very abstract level. In chapter II some mathematical concepts are presented and in chapter III two related choice models are treated, the first one based on preferences, the second one on choice functions. The second part consists of chapters IV, V and VI and covers consumer choice theory. After the pre sentation of the mathematical tools, two models that are extensions of the models of chapter III are dealt with. In the discussion of consumer choice theory the concept of duality plays an important role and it is found that duality is closely related to the notion of favourability introduced in chap ter II I. Mr. Weddepohl's study forms an introduction to a larger research project to develop the theory of collective choice.
Download or read book Axioms of Cooperative Decision Making written by Hervé Moulin and published by Cambridge University Press. This book was released on 1991-07-26 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a unified and comprehensive study of welfarism, cooperative games, public decision making, and voting and social choice theory.
