Download or read book Institutions Equilibria and Efficiency written by Christian Schultz and published by Springer Science & Business Media. This book was released on 2006-04-22 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition and efficiency is at the core of economic theory. This volume collects papers of leading scholars, which extend the conventional general equilibrium model in important ways: Efficiency and price regulation are studied when markets are incomplete and existence of equilibria in such settings is proven under very general preference assumptions. The model is extended to include geographical location choice, a commodity space incorporating manufacturing imprecision and preferences for club-membership, schools and firms. Inefficiencies arising from household externalities or group membership are evaluated. Core equivalence is shown for bargaining economies. The theory of risk aversion is extended and the relation between risk taking and wealth is experimentally investigated. Other topics include determinacy in OLG with cash-in-advance constraints, income distribution and democracy in OLG, learning in OLG and in games, optimal pricing of derivative securities, the impact of heterogeneity at the individual level for aggregate consumption, and adaptive contracting in view of uncertainty.
Download or read book Institutions Equilibria and Efficiency written by Christian Schultz and published by Springer. This book was released on 2006-02-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition and efficiency is at the core of economic theory. This volume collects papers of leading scholars, which extend the conventional general equilibrium model in important ways: Efficiency and price regulation are studied when markets are incomplete and existence of equilibria in such settings is proven under very general preference assumptions. The model is extended to include geographical location choice, a commodity space incorporating manufacturing imprecision and preferences for club-membership, schools and firms. Inefficiencies arising from household externalities or group membership are evaluated. Core equivalence is shown for bargaining economies. The theory of risk aversion is extended and the relation between risk taking and wealth is experimentally investigated. Other topics include determinacy in OLG with cash-in-advance constraints, income distribution and democracy in OLG, learning in OLG and in games, optimal pricing of derivative securities, the impact of heterogeneity at the individual level for aggregate consumption, and adaptive contracting in view of uncertainty.
Download or read book Institutions and Economic Theory written by Eirik G. Furubotn and published by University of Michigan Press. This book was released on 2005-10-21 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition assesses some of the major refinements, extensions, and useful applications that have developed in neoinstitutionalist thought in recent years. More attention is given to the overlap between the New Institutional Economics and developments in economic history and political science. In addition to updated references, new material includes analysis of parallel developments in the field of economic sociology and its attacks on representatives of the NIE as well as an explanation of the institution-as-an-equilibrium-of-game approach. Already an international best seller, Institutions and Economic Theory is essential reading for economists and students attracted to the NIE approach. Scholars from such disciplines as political science, sociology, and law will find the work useful as the NIE continues to gain wide academic acceptance. A useful glossary for students is included. Eirik Furubotn is Honorary Professor of Economics, Co-Director of the Center for New Institutional Economics, University of Saarland, Germany and Research Fellow, Private Enterprise Research Center, Texas A&M University. Rudolph Richter is Professor Emeritus of Economics and Director of the Center for New Institutional Economics, University of Saarland, Germany.
Download or read book Efficiency Institutions and Economic Policy written by Rüdiger Pethig and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a neoclassical world the existence of non-zero transaction costs, nonconvex technologies, public goods and so on creates inefficiencies which can be dealt with by various institutions. But, institutions can create inefficiencies of their own. This volume addresses the issue of efficiency and institutions from different angles. First, the efficiency of modern welfare states is analyzed on a general level where topics like social justice, redistribution and rent seeking are studied in an environment of pressure groups and self-interested politicians (papers by Streit, Schlieper, WickstrAm). Second, several papers deal with more specific issues like intergenerational transfers in a social insurance system, the efficiency of law, and contractual arrangements in the labor market (Witt, Rowley and Brough, Monissen and Wenger). Third, allocation procedures for nonexclusive public goods are analyzed (GA1/4th and Hellwig, Pethig).
Download or read book Institutions and Economic Theory written by Eirik G. Furubotn and published by University of Michigan Press. This book was released on 2010-10-22 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition assesses some of the major refinements, extensions, and useful applications that have developed in neoinstitutionalist thought in recent years. More attention is given to the overlap between the New Institutional Economics and developments in economic history and political science. In addition to updated references, new material includes analysis of parallel developments in the field of economic sociology and its attacks on representatives of the NIE as well as an explanation of the institution-as-an-equilibrium-of-game approach. Already an international best seller, Institutions and Economic Theory is essential reading for economists and students attracted to the NIE approach. Scholars from such disciplines as political science, sociology, and law will find the work useful as the NIE continues to gain wide academic acceptance. A useful glossary for students is included. Eirik Furubotn is Honorary Professor of Economics, Co-Director of the Center for New Institutional Economics, University of Saarland, Germany and Research Fellow, Private Enterprise Research Center, Texas A&M University. Rudolph Richter is Professor Emeritus of Economics and Director of the Center for New Institutional Economics, University of Saarland, Germany.
Download or read book Institutions and Economic Theory written by Eirik Grundtvig Furubotn and published by University of Michigan Press. This book was released on 2000 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introduction to and critical assessment of the theory and applications of the New Institutional Economics.
Download or read book Complementarity Equilibrium Efficiency and Economics written by G. Isac and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: In complementarity theory, which is a relatively new domain of applied mathematics, several kinds of mathematical models and problems related to the study of equilibrium are considered from the point of view of physics as well as economics. In this book the authors have combined complementarity theory, equilibrium of economical systems, and efficiency in Pareto's sense. The authors discuss the use of complementarity theory in the study of equilibrium of economic systems and present results they have obtained. In addition the authors present several new results in complementarity theory and several numerical methods for solving complementarity problems associated with the study of economic equilibrium. The most important notions of Pareto efficiency are also presented. Audience: Researchers and graduate students interested in complementarity theory, in economics, in optimization, and in applied mathematics.
Download or read book Evolution and Efficiency written by Jack J. Vromen and published by . This book was released on 1994 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Institutions in Economics written by Malcolm Rutherford and published by Cambridge University Press. This book was released on 1996-07-13 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines and compares the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, with the 'new' institutionalism developed from neoclassical and Austrian sources.
Download or read book Five Basic Institution Structures and Institutional Economics written by Shaorong Sun and published by Springer. This book was released on 2016-01-12 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses a development in institutional economics and management science, which provides engineering methods for institution design. Based on the “Sun Diagram” created by the author, it uses graphics and calculations to explain that there are only five fundamental management institution structures, each of which has a particular management effect. It also demonstrates that production activities should be managed with different institutions according to the differences in externalities. This significant book suggests ways of using institution design to tackle the key challenges faced by societies today, such as environmental pollution, over-consumption of natural resources, carbon emissions, world peace issues and stagnating productivity levels.
Download or read book The Cognitive Basis of Institutions written by Shinji Teraji and published by Academic Press. This book was released on 2018-02-16 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cognitive Basis of Institutions: A Synthesis of Behavioral and Institutional Economics synthesizes modern research in behavioral economics with traditional institutional economics. This work emphasizes that institution and agent are inextricably linked, and that both cognitive and institutional processes coalesce to influence human decision-making. It integrates cognition and institution through the behavioral economics theoretical lens of bounded rationality. Methodologically, it develops game-theoretical, complexity and neuroeconomic solutions to unite study of the two areas. The work concludes by proposing general implications for the economic study of decisions using the cognitive-institutional approach, also providing specific recommendations for public policy. - Reveals how institutional structures and individual actions interact and coevolve cognitively - Connects individual decision-making, decision-making processes and institutional formation - Unites our understanding of cooperative 'prosocial' behavior with the institutional dynamics that may create it - Discusses the implications of the behavioral-institutional paradigm for paternalism and libertarianism in public policy
Download or read book Markets and Democracy written by Samuel Bowles and published by Cambridge University Press. This book was released on 1993-07-22 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book asks whether a modern, efficient economy can be rendered democratically accountable, and, if so, what strategic changes might be required to regulate the market- based interaction of economic agents. The contributors bring contemporary microeconomic theory to bear in an attempt to find a progressive replacement to traditional state socialism. Various approaches to the study of economic interaction are considered in an attempt to understand the relationship between power and efficiency in market economies.
Download or read book Political Economy of Institutions Democracy and Voting written by Norman Schofield and published by Springer Science & Business Media. This book was released on 2011-06-11 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest research in the field of Political Economy, dealing with the integration of economics and politics and the way institutions affect social decisions. The authors are eminent scholars from the U.S., Canada, Britain, Spain, Italy, Mexico and the Philippines. Many of them have been influenced by Nobel laureate Douglass North, who pioneered the new institutional social sciences, or by William H. Riker who contributed to the field of positive political theory. The book focuses on topics such as: case studies in institutional analysis; research on war and the formation of states; the analysis of corruption; new techniques for analyzing elections, involving game theory and empirical methods; comparing elections under plurality and proportional rule, and in developed and new democracies.
Download or read book Journal of Institutional and Theoretical Economics written by and published by . This book was released on 1993 with total page 840 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Institutional Economics written by Wendell Chaffee Gordon and published by Routledge. This book was released on 1980 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Theory of Agrarian Institutions written by Pranab Bardhan and published by Clarendon Press. This book was released on 1989-07-27 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume breaks new ground in the economic theory of institutions. The contributors show how some of the tools of advanced economic theory can usefully contribute to an understanding of how institutions operate. They show how sound theoretical analysis can in fact enable economists to reach conclusions which will help practitioners avoid many pitfalls in the formation and implementation of development policies, both within individual countries and in the context of international aid.
Download or read book Institutional Efficiency and Its Determinants written by Silvio Borner and published by OECD Publishing. This book was released on 2004-01-01 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication discusses the impact of institutions on economic development and the determinants that shape institutional quality, using a new institutional economics (NIE) model based on a multidisciplinary approach to understanding issues including growth, efficiency and income distribution. Using the experience of Argentina under the Menem government as a case study, a methodology is developed and applied to test theoretical hypotheses regarding the concept of institutional quality and how delineation between economic and political institutions work in practice. It also considers systems of democracy and autocracy, and the impact of traditional, legal and cultural frameworks on institutional efficiency.
