Download or read book Essays in Macroeconomic Theory and the Theory of Uncertainty written by Kee-nam Cheung and published by . This book was released on 1989 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Download or read book Markets Information and Uncertainty written by Kenneth Joseph Arrow and published by Cambridge University Press. This book was released on 1999-01-28 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading theorists offer insights on the role of uncertainty and information in the market.
Download or read book Essays in the Economics of Uncertainty written by Jean-Jacques Laffont and published by Harvard University Press. This book was released on 1980 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: These three elegant essays develop principles central to the understanding of the diverse ways in which imperfect information affects the distribution of resources, incentives, and the evaluation of economic policy. The first concerns the special role that information plays in the allocation process when it is possible to improve accuracy through private investment. The common practice of hiring "experts" whose information is presumably much better than their clients' is analyzed. Issues of cooperative behavior when potential group members possess diverse pieces of information are addressed. Emphasis is placed on the adaptation of the "core" concept from game theory to the resource allocation model with differential information. The second essay deals with the extent to which agents can influence the random events they face. This is known as moral hazard, and in its presence there is a potential inefficiency in the economic system. Two special models are studied: the role of moral hazard in a monetary economy, and the role of an outside adjudicatory agency that has the power to enforce fines and compensation. The final essay discusses the problem of certainty equivalence in economic policy. Conditions under which a full stochastic optimization can be calculated by solving a related, much simpler "certainty equivalence" problem are developed. The reduction in the complexity of calculation involved is very great compared with the potential loss of efficiency.
Download or read book Complexity Endogenous Money and Macroeconomic Theory written by Mark Setterfield and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: That the chapters in the volume cover such a wide range of important, often fundamental, topics is a proper tribute to Basil Moore s influence and contributions over his working life. From the foreword by G.C. Harcourt, Jesus College, Cambridge, UK During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the horizontalist analysis of endogenous money. More recently, he has embraced complexity theory as part of an ongoing effort to understand macroeconomics as an evolving, path-dependent process. This book celebrates and explores Basil Moore s interests in and contributions to monetary and macroeconomic theory. Complexity, Endogenous Money and Macroeconomic Theory features original essays by internationally acclaimed and expert authors. It comprises a selection of papers on five distinct but interrelated themes: economic concepts, tools and methodology; complexity, uncertainty and path dependence; the macroeconomics of endogenous money; the macroeconomics of exogenous interest rates; and unemployment, inflation and the determination of aggregate income. These papers combine to provide a comprehensive methodological and theoretical discussion of the macroeconomics of a monetary production economy. The book will be of interest to professionals and research students in the fields of macroeconomics and monetary economics especially those with an interest in the Post Keynesian approach to analyzing these fields, including the wide audience that has been reached by the contributions of Basil Moore himself.
Download or read book Keynes General Theory written by Thomas Cate and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, a collection of essays by internationally known experts in the area of the history of economic thought and of the economics of Keynes and macroeconomics in particular, is designed to celebrate the 75th anniversary of the publication of The General Theory. The essays contained in this volume are divided into four sections. The first section contains three essays that explore the concept of fundamental uncertainty and its unique role in The General Theory. The second section contains five essays that examine the place of The General Theory in the history of macroeconomics since 1936. The third section contains three essays that explore the interrelationships among Keynes, Friedman, Kaldor, Marx and Sraffa and their approaches to macroeconomic theory and policy. The final section contains four essays that provide several new interpretations of The General Theory and its position within macroeconomics. Keynes's General Theory is intended for those students and scholars who are interested in the economics of Keynes and the rich variety of approaches to macroeconomic theory and policy.
Download or read book Uncertainty in Economic Theory written by Itzhak Gilboa and published by Psychology Press. This book was released on 2004 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is the first collection to include chapters on this topic, and it can thus serve as an introduction to researchers who are new to the field as well as a graduate course textbook. With this goal in mind, the book contains survey introductions that are aimed at a graduate level student, and help explain the main ideas, and put them in perspective."--BOOK JACKET.
Download or read book Uncertainty and Economic Evolution written by John L. Lott Jr. and published by Routledge. This book was released on 2005-06-23 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the firm has recently undergone a dramatic transformation, drawing heavily on the pathbreaking work of Armen Alchian. This volume explores his contribution to the debate, including essays by Harold Demetz, Ben Klein, Jerry Jordan and Art Devany.
Download or read book Essays on the theory of macroeconomic dynamics under uncertainty written by Sheri M. Markrose and published by . This book was released on 1987 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on the Theory of Macro economic Dynamics Under Uncertainty written by Sheri M. Markose and published by . This book was released on 1985 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Critical Essay on Modern Macroeconomic Theory written by Frank Hahn and published by MIT Press. This book was released on 1997 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory. This essay evolved from theauthors' profound disagreement with that trend. It demonstrates notonly how the new classical view got macroeconomics wrong, but also howto go about doing macroeconomics the right way.
Download or read book Macroeconomics in the Small and the Large written by Axel Leijonhufvud and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Roger Farmer is to be congratulated for editing this splendid set of essays in honour of Axel Leijonhufvud. . . I am sure that most of the readers of these essays will be excited and stimulated by their contents. Economic Record This book honors the work of the influential economist Axel Leijonhufvud. His work in macroeconomics, monetary theory and European economic history has spurred great discussion over many years, and the authors of this book comprise some of the very best economists active today. The broad influence of his work is evident in the variety of subjects his readers address. The topics range from Keynesian economics and the economics of high inflation to the micro-foundations of macroeconomics and economic history. The reader will find an intriguing compilation of ideas ranging from bankruptcy and collateral debt, the macroeconomics of broken promises, interest rate setting, growth patterns of macro models, innovation history to macroeconomics with intelligent autonomous agents. Scholars and students of economic history, Keynesian economics and alternative monetary theory will be delighted with the work inspired by this influential thinker.
Download or read book Essays on Economic Behavior Under Uncertainty written by Michael Balch and published by North-Holland. This book was released on 1974 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Uncertainty and Economic Evolution written by John R. Lott and published by Psychology Press. This book was released on 1997 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the firm has recently undergone a dramatic transformation, drawing heavily on the pathbreaking work of Armen Alchian. This volume explores his contribution to the debate, including essays by Harold Demetz, Ben Klein, Jerry Jordan and Art Devany.
Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Download or read book Essays in Economic Theory Growth and Labour Markets written by George Bitros and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The distinguished contributors in this volume provide a variety of essays, which are written in honor of Emmanuel Drandakis. These essays fall into four uniform areas of economics: economic growth, general equilibrium, labor economics and game theory and applications. The editors focus on a select set of issues that stand high on the agenda of academic research. They provide fresh insights and approaches to the analysis of these issues, and thus open up wider avenues for our understanding of the dilemmas posed for theory and policy. Readers are offered new empirical evidence on such thorny social problems as, for example, unemployment, the intergenerational transmission of human capital and the response of wages to price and endowment changes.
Download or read book Natural Resources Uncertainty and General Equilibrium Systems written by Alan S. Blinder and published by Elsevier. This book was released on 2013-10-22 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural Resources, Uncertainty, and General Equilibrium Systems: Essays in Memory of Rafael Lusky compiles a collection of works by economists who had been friends and colleagues of Rafael Lusky, a teacher in the University of Florida and contributor to theoretical resource economics. This book is divided into four sections— natural resources, uncertainty, general equilibrium systems, and policy and applications. In these sections, this text specifically discusses the resource depletion with technological uncertainty and the Rawlsian fairness principle; monopoly, uncertainty, and exploration; and price discrimination under uncertainty. The insurance theoretic aspects of workers' compensation; adverse selection and optimum insurance policies; and difficulty with Keynesian models of aggregate demand are also elaborated. This compilation likewise deliberates the exchange model of bilateral trade; optimal taxes on foreign lending; and extended linear permanent expenditure system (ELPES). This publication is a useful reference for economists and students concerned with theoretical resource economics.
