Download or read book The Axiomatics of Economic Design Vol 1 written by William Thomson and published by Springer. This book was released on 2023-06-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook is Volume 1 of a two-volume set on the axiomatics of economic design. Its central argument is that economic institutions are not God-given: they are man-made. Their ultimate goal is to promote social welfare. The book describes the axiomatic approach to design. It consists in the formulation of criteria of desirability of solution mappings, and of the examination of their logical implications when imposed in various combinations. Its goal is to identify as precisely as possible the line that separates those combinations of desiderata that are compatible and those that are not. The end product of axiomatic work are menus of choices for practitioners to choose from when they have to make a decision. The first volume offers pedagogical coverage of the axiomatic approach to economic design, in the form of answers to questions posed by a young person curious about it. It introduces readers to what motivates economic design. It continues with the mathematical representation of a class of allocation problems. The bulk of the volume is to present structured inventories of the field of axioms, arranged by format first, and content next. These chapters are followed by a user's manual on the axiomatic method. Lastly, the volume discusses how economic design can be aided by other disciplines, in particular philosophy, mathematics, and computer science.
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 Praxiologies and the Philosophy of Economics written by Josiah Lee Auspitz and published by Transaction Publishers. This book was released on with total page 742 pages. Available in PDF, EPUB and Kindle. Book excerpt: This breakthrough volume integrates European, British, and American scholarship in advanced areas of philosophy and decision theory. Contributions cover a broad area of economics--from criticism of institutional economics to examination of the role of induction in economic forecasting.
Download or read book Theory of Choice written by Mark Aronovich Aĭzerman and published by North Holland. This book was released on 1995 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choice theory forms the basis for many scientific fields, such as decision making, mathematical models of micro-economics, voting theory, theory of control in socio-economic systems, and some branches of psychology. This volume is a first monograph summing up major scientific results obtained during two decades. The studies presented in the book go beyond the classical approach with a new look at the mathematical theory of choice, taking into account the dependence of choice on the context. The book also provides a new approach to the voting theory, the basis of which forms the description of individual opinions and collective decision as choice functions. The classical approach is shown to be an important but particular case of the developed theory. Students and scientists in economic, social science, decision making and control theory, will find this book of value. The reader does not need special mathematical knowledge as the book uses mainly set-theoretic language.
Download or read book Conversations on Social Choice and Welfare Theory Vol 1 written by Marc Fleurbaey and published by Springer Nature. This book was released on 2021-03-30 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents interviews that have been conducted from the 1980s to the present with important scholars of social choice and welfare theory. Starting with a brief history of social choice and welfare theory written by the book editors, it features 15 conversations with four Nobel Laureates and other key scholars in the discipline. The volume is divided into two parts. The first part presents four conversations with the founding fathers of modern social choice and welfare theory: Kenneth Arrow, John Harsanyi, Paul Samuelson, and Amartya Sen. The second part includes conversations with scholars who made important contributions to the discipline from the early 1970s onwards. This book will appeal to anyone interested in the history of economics, and the history of social choice and welfare theory in particular.
Download or read book The Economics of Transaction Costs written by P. Rao and published by Springer. This book was released on 2002-12-03 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: In modern economies a substantial proportion of resources is increasingly allocated to transaction costs. An improvement in the definition of transaction costs to include both the information role and efficiency role requires an integration of the approaches of positive economics and normative economics. In The Economics of Transaction Costs P.K.Rao provides a comprehensive analytical treatment of the subject and suggests a few directions for formal economic models.
Download or read book The Future of Economic Design written by Jean-François Laslier and published by Springer Nature. This book was released on 2019-11-15 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays represents responses by over eighty scholars to an unusual request: give your high level assessment of the field of economic design, as broadly construed. Where do we come from? Where do we go from here? The book editors invited short, informal reflections expressing deeply felt but hard to demonstrate opinions, unsupported speculation, and controversial views of a kind one might not normally risk submitting for review. The contributors – both senior researchers who have shaped the field and promising, younger researchers – responded with a diverse collection of provocative pieces, including: retrospective assessments or surveys of the field; opinion papers; reflections on critical points for the development of the discipline; proposals for the immediate future; "science fiction"; and many more. The readers should have fun reading these unusual pieces – as much as the contributors enjoyed writing them.
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 Oxford Handbook of Public Choice written by Roger D. Congleton and published by Oxford University Press. This book was released on 2018-12-07 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Public Choice provides a comprehensive overview of the research in economics, political science, law, and sociology that has generated considerable insight into the politics of democratic and authoritarian systems as well as the influence of different institutional frameworks on incentives and outcomes. The result is an improved understanding of public policy, public finance, industrial organization, and macroeconomics as the combination of political and economic analysis shed light on how various interests compete both within a given rules of the games and, at times, to change the rules. These volumes include analytical surveys, syntheses, and general overviews of the many subfields of public choice focusing on interesting, important, and at times contentious issues. Throughout the focus is on enhancing understanding how political and economic systems act and interact, and how they might be improved. Both volumes combine methodological analysis with substantive overviews of key topics. This first volume covers voting and elections; interest group competition and rent seeking, including corruption and various normative approaches to evaluating policies and politics. Throughout both volumes important analytical concepts and tools are discussed, including their application to substantive topics. Readers will gain increased understanding of rational choice and its implications for collective action; various explanations of voting, including economic and expressive; the role of taxation and finance in government dynamics; how trust and persuasion influence political outcomes; and how revolution, coups, and authoritarianism can be explained by the same set of analytical tools as enhance understanding of the various forms of democracy.
Download or read book Global Perspective for Competitive Enterprise Economy and Ecology written by Shuo-Yan Chou and published by Springer Science & Business Media. This book was released on 2009-07-01 with total page 877 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Perspective for Competitive Enterprise, Economy and Ecology addresses the general theme of the Concurrent Engineering (CE) 2009 Conference – the need for global advancements in the areas of competitive enterprise, economy and ecology. The proceedings contain 84 papers, which vary from the theoretical and conceptual to the practical and industrial. The content of this volume reflects the genuine variety of issues related to current CE methods and phenomena. Global Perspective for Competitive Enterprise, Economy and Ecology will therefore enable researchers, industry practitioners, postgraduate students and advanced undergraduates to build their own view of the inherent problems and methods in CE.
Download or read book Studies in Modern Analysis written by and published by . This book was released on 1962 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Freedom in Economics written by Marc Fleurbaey and published by Routledge. This book was released on 2002-01-22 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a range of papers by philosophers and economists who consider the definition and value of liberty; freedom in rights and equality of opportunity. Until recently freedom has played no explicit role in the conceptual framework of economists, however freedom seems to be at the heart of economics. The book provides a substantial contribution to the fruitful dialogue between the philosophy and economics in this area. Each chapter is integrated being followed by comments which explore the underlying debates. Contributors are French economists, philosophers and political scientists, as well as authors from Belgium and the Netherlands.
Download or read book A Primer on Macroeconomics written by Thomas M. Beveridge and published by Business Expert Press. This book was released on 2013-03-29 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics, far from being the “dismal science,” offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the science of choice and a study of economic principles that allows us to achieve a more informed understanding of how we make our choices, whether these choices occur in our everyday life, in our work environment, or at the national or international level. This book represents a common sense approach to basic macroeconomics, and begins by explaining key economic principles and defining important terms used in macroeconomic discussion. It uses a single unifying tool—aggregate demand and aggregate supply analysis—to probe differing perspectives on macroeconomic policies. If you’re a student, and perhaps a student in business school settings, this book will deliver clear statements of essential economic principles, supported by easy-to-understand examples, and uncluttered by extraneous material; the goal being to provide a concise readable primer that covers the substance of macroeconomic theory.
Download or read book Axiomatic Utility Theory under Risk written by Ulrich Schmidt and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). Considering the famous St. Petersburg Paradox! - a lottery with an infinite expected monetary value -Bernoulli (1738, p. 209) observed that most people would not spend a significant amount of money to engage in that gamble. To account for this observation, Bernoulli (1738, pp. 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk. However, Bernoulli's 2 argument and particularly his choice of a logarithmic utility function seem to be rather arbitrary since they are based entirely on intuitively 3 appealing examples. Not until two centuries later, did von Neumann and Morgenstern (1947) prove that if the preferences of the decision maker satisfy cer tain assumptions they can be represented by the expected value of a real-valued utility function defined on the set of consequences. Despite the identical mathematical form of expected utility, the theory of von Neumann and Morgenstern and Bernoulli's approach have, however, IFor comprehensive discussions of this paradox cf. Menger (1934), Samuelson (1960), (1977), Shapley (1977a), Aumann (1977), Jorland (1987), and Zabell (1987). 2Cramer (1728, p. 212), on the other hand, proposed that the utility of an amount of money is given by the square root of this amount.
Download or read book Modelling Spatial Housing Markets written by Geoffrey Meen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spatial fixity is one of the characteristics that distinguishes housing from most other goods and services in the economy. In general, housing cannot be moved from one part of the country to another in response to shortages or excesses in particular areas. The modelling of housing markets and the interlinkages between markets at different spatial levels - international, national, regional and urban - are the main themes of this book. A second major theme is disaggregation, not only in terms of space, but also between households. The book argues that aggregate time-series models of housing markets of the type widely used in Britain and also in other countries in the past have become less relevant in a world of increasing income dispersion. Typically, aggregate relationships will break down, except under special conditions. We can no longer assume that traditional location or tenure patterns, for example, will continue in the future. The book has four main components. First, it discusses trends in housing markets both internationally and within nations. Second, the book develops theoretical housing models at each spatial scale, starting with national models, moving down to the regional level and, then, to urban models. Third, the book provides empirical estimates of the models and, finally, the models are used for policy analysis. Analysis ranges over a wide variety of topics, including explanations for differing international house price trends, the causes of housing cycles, the role of credit markets, regional housing market interactions and the role of housing in urban/suburban population drift.
Download or read book Proceedings of the 7th International Conference on Axiomatic Design written by Mary Kathryn Thompson and published by ICAD 2013. This book was released on 2013-06-26 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Oxford Handbook of Public Choice written by Roger D. Congleton and published by Oxford Handbooks. This book was released on 2019-01-08 with total page 985 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This two-volume collection provides a comprehensive overview of the past seventy years of public choice research, written by experts in the fields surveyed. The individual chapters are more than simple surveys, but provide readers with both a sense of the progress made and puzzles that remain. Most are written with upper level undergraduate and graduate students in economics and political science in mind, but many are completely accessible to non-expert readers who are interested in Public Choice research. The two-volume set will be of broad interest to social scientists, policy analysts, and historians"--
