Download or read book Individual Choice Under Certainty and Uncertainty written by Kenneth Joseph Arrow and published by Harvard University Press. This book was released on 1984 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third volume of Arrow's Collected Papers concerns the basic concept of rationality as it applies to an economic decision maker. In particular, it addresses the problem of choice faced by consumers in a multicommodity world and presents specific models of choice useful in economic analysis. It also discusses choice models under uncertainty.
Download or read book Collected Papers of Kenneth J Arrow Individual choice under certainty and uncertainty written by Kenneth Joseph Arrow and published by . This book was released on 1983 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays in Honor of Kenneth J Arrow Volume 3 Uncertainty Information and Communication written by Walter P. Heller and published by Cambridge University Press. This book was released on 1986-09-26 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third in a series of volumes published in honour of Professor Kenneth J. Arrow, each covering a different area of economic theory.
Download or read book The Rate and Direction of Inventive Activity written by National Bureau of Economic Research and published by Princeton University Press. This book was released on 2015-12-08 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book Welfare Economics and Social Choice Theory written by Allan M. Feldman and published by Springer Science & Business Media. This book was released on 2006-06-14 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the main topics of welfare economics — general equilibrium models of exchange and production, Pareto optimality, un certainty, externalities and public goods — and some of the major topics of social choice theory — compensation criteria, fairness, voting. Arrow's Theorem, and the theory of implementation. The underlying question is this: "Is a particular economic or voting mechanism good or bad for society?" Welfare economics is mainly about whether the market mechanism is good or bad; social choice is largely about whether voting mechanisms, or other more abstract mechanisms, can improve upon the results of the market. This second edition updates the material of the first, written by Allan Feldman. It incorporates new sections to existing first-edition chapters, and it includes several new ones. Chapters 4, 6, 11, 15 and 16 are new, added in this edition. The first edition of the book grew out of an undergraduate welfare economics course at Brown University. The book is intended for the undergraduate student who has some prior familiarity with microeconomics. However, the book is also useful for graduate students and professionals, economists and non-economists, who want an overview of welfare and social choice results unburdened by detail and mathematical complexity. Welfare economics and social choice both probably suffer from ex cessively technical treatments in professional journals and monographs.
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 The Calculus of Consent written by James M. Buchanan and published by University of Michigan Press. This book was released on 1965 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: A scientific study of the political and economic factors influencing democratic decision making
Download or read book The Analytics of Uncertainty and Information written by Sushil Bikhchandani and published by Cambridge University Press. This book was released on 2013-08-12 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been explosive progress in the economic theory of uncertainty and information in the past few decades. This subject is now taught not only in departments of economics but also in professional schools and programs oriented toward business, government and administration, and public policy. This book attempts to unify the subject matter in a simple, accessible manner. Part I of the book focuses on the economics of uncertainty; Part II examines the economics of information. This revised and updated second edition places a greater focus on game theory. New topics include posted-price markets, mechanism design, common-value auctions, and the one-shot deviation principle for repeated games.
Download or read book Choices Values and Frames written by Daniel Kahneman and published by Cambridge University Press. This book was released on 2000-09-25 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.
Download or read book Individual Choice Under Certainty and Uncertainty written by Kenneth Joseph Arrow and published by Wiley-Blackwell. This book was released on 1984-01 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Advanced Microeconomic Theory written by Geoffrey Alexander Jehle and published by . This book was released on 2001 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: This advanced economics text bridges the gap between familiarity with microeconomic theory and a solid grasp of the principles and methods of modern neoclassical microeconomic theory.
Download or read book Choice and Economic Welfare written by Viktor J. J. Vanberg and published by . This book was released on 2019 with total page 747 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important research literature review discusses some of the most prominent literature in the field of individual choice and economic welfare. It analyses material exploring how economics as a scientific enterprise may inform political decision-making. The premise is explored paradigmatically through different interpretations including utility-individualism in the context of welfare economics, preference-individualism in social choice theory, and choice-individualism in constitutional economics. The review covers the foundational literature as well as contemporary pieces, which have sparked further discussion in the field. This review will be valuable to researchers and scholars alike as well as to all those gravitating towards this fascinating topic.
Download or read book Decisions with Multiple Objectives written by Ralph L. Keeney and published by Cambridge University Press. This book was released on 1993-07 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.
Download or read book The Theory of Demand for Health Insurance written by John A. Nyman and published by Stanford University Press. This book was released on 2003 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do people buy health insurance? Conventional theory holds that people purchase insurance because they prefer the certainty of paying a small premium to the risk of getting sick and paying a large medical bill. This book presents a new theory of consumer demand for health insurance. It holds that people purchase insurance to obtain additional "income" when they become ill.
Download or read book Basic Methods of Policy Analysis and Planning written by Carl Patton and published by Routledge. This book was released on 2015-08-26 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated in its 3rd edition, Basic Methods of Policy Analysis and Planning presents quickly applied methods for analyzing and resolving planning and policy issues at state, regional, and urban levels. Divided into two parts, Methods which presents quick methods in nine chapters and is organized around the steps in the policy analysis process, and Cases which presents seven policy cases, ranging in degree of complexity, the text provides readers with the resources they need for effective policy planning and analysis. Quantitative and qualitative methods are systematically combined to address policy dilemmas and urban planning problems. Readers and analysts utilizing this text gain comprehensive skills and background needed to impact public policy.
Download or read book Rationalizing Capitalist Democracy written by S.M. Amadae and published by University of Chicago Press. This book was released on 2003-09-15 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Rationalizing Capitalist Democracy, S. M. Amadae tells the remarkable story of how rational choice theory rose from obscurity to become the intellectual bulwark of capitalist democracy. Amadae roots Rationalizing Capitalist Democracy in the turbulent post-World War II era, showing how rational choice theory grew out of the RAND Corporation's efforts to develop a "science" of military and policy decisionmaking. But while the first generation of rational choice theorists—William Riker, Kenneth Arrow, and James Buchanan—were committed to constructing a "scientific" approach to social science research, they were also deeply committed to defending American democracy from its Marxist critics. Amadae reveals not only how the ideological battles of the Cold War shaped their ideas but also how those ideas may today be undermining the very notion of individual liberty they were created to defend.
Download or read book Arrow and the Foundations of the Theory of Economic Policy written by George R. Feiwel and published by Springer. This book was released on 2016-01-01 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt:
