Download or read book Economics as a Coordination Problem written by Gerald P. O'Driscoll and published by Kansas City, Kan. : Sheed Andrews and McMeel. This book was released on 1977 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: A revision of the author's thesis, University of California at Los Angeles. Includes index. Bibliography: p. 158-167.
Download or read book Problems of Coordination in Economic Activity written by James W. Friedman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coordination is extremely important in economic, political, and social life. The concept of economic equilibrium is based on the coordination of producers and consumers in buying and selling. This book reviews the topic of coordination from an economic, theoretical standpoint. The aim of this volume is twofold: first, the book contributes to the ongoing research on the economics of coordination; and second, it disseminates results and encourages interest in the topic. The volume contains original research on coordination including general game-theoretic questions, particular coordination issues within specific fields of economics (i.e. industrial organization, international trade, and macroeconomics), and experimental research.
Download or read book ECONOMICS AS A COORDINATION PROBLEM THE CONTRIB OF FRIEDRICH A HAYEK written by Gerald P. O'Driscoll and published by . This book was released on 1977 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Behavioural and Experimental Economics written by Steven Durlauf and published by Springer. This book was released on 2016-04-30 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Download or read book Problems of Coordination in Economic Activity written by James W Friedman and published by . This book was released on 1993-12-31 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Complex Economics written by Alan Kirman and published by Routledge. This book was released on 2010-09-13 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view. The economy should be considered as a complex adaptive system in which the agents constantly react to, influence and are influenced by, the other individuals in the economy. In such systems which are familiar from statistical physics and biology for example, the behaviour of the aggregate cannot be deduced from the behaviour of the average, or "representative" individual. Just as the organised activity of an ants’ nest cannot be understood from the behaviour of a "representative ant" so macroeconomic phenomena should not be assimilated to those associated with the "representative agent". This book provides examples where this can clearly be seen. The examples range from Schelling’s model of segregation, to contributions to public goods, the evolution of buyer seller relations in fish markets, to financial models based on the foraging behaviour of ants. The message of the book is that coordination rather than efficiency is the central problem in economics. How do the myriads of individual choices and decisions come to be coordinated? How does the economy or a market, "self organise" and how does this sometimes result in major upheavals, or to use the phrase from physics, "phase transitions"? The sort of system described in this book is not in equilibrium in the standard sense, it is constantly changing and moving from state to state and its very structure is always being modified. The economy is not a ship sailing on a well-defined trajectory which occasionally gets knocked off course. It is more like the slime described in the book "emergence", constantly reorganising itself so as to slide collectively in directions which are neither understood nor necessarily desired by its components.
Download or read book Economy of Chaos written by Zbigniew Hockuba and published by . This book was released on 1994 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Growth as a Coordination Problem written by Robert Jones and published by . This book was released on 1991 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Coordination and Prices written by S. G. van der Lecq and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents a view of the economy, and how to model it, in which the current "ideal" of isolated agents coordinated by clearing markets is replaced by an open system in which money, trust, conventions and institutions all play their part in the system's coordination.
Download or read book Coordination Games written by Russell Cooper and published by Cambridge University Press. This book was released on 1999-02-28 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume studies the implications of macroeconomic complementarities for aggregate behaviour. Topics include: economies with production complementarities; search models; imperfectly competitive product markets; and the role of government in resolving and creating coordination problems.
Download or read book F A Hayek written by Peter J. Boettke and published by Springer. This book was released on 2018-09-05 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is his emphasis on the knowledge problem that economic decision makers face and how alternative institutional arrangements either hinder or assist them in overcoming that epistemic dilemma. Hayek saw order emerging from individual action and responsibility under the appropriate institutional order that itself emerges from actors discovering new and better ways to coordinate their behavior. This book will be of interest to all those keen to gain a deeper understanding of this great 20th century thinker in economics.
Download or read book The Keynesian Recovery and Other Essays written by Peter Howitt and published by University of Michigan Press. This book was released on 1990 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together Howitt's key contributions to the development of macroeconomic theory
Download or read book Knowledge and Coordination written by Daniel B. Klein and published by Oxford University Press. This book was released on 2012-01-27 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith and Friedrich Hayek saw the liberty principle as focal and accorded it strong presumption, but their wisdom invokes how little we can know. In Knowledge and Coordination, Daniel Klein re-examines the elements of economic liberalism. He interprets Hayek's notion of spontaneous order from the aestheticized perspective of a Smithian spectator, real or imagined. Klein addresses issues economists have had surrounding the notion of coordination by distinguishing the concatenate coordination of Hayek, Ronald Coase, and Michael Polanyi from the mutual coordination of Thomas Schelling and game theory. Clarifying the meaning of cooperation, he resolves debates over whether entrepreneurial innovation enhances or upsets coordination, and thus interprets entrepreneurship in terms of discovery or new knowledge. Beyond information, knowledge entails interpretation and judgment, emergent from tacit reaches of the "society of mind," itself embedded in actual society. Rejecting homo economicus in favor of the "deepself," Klein offers a distinctive formulation of knowledge economics, entailing asymmetric interpretation, judgment, entrepreneurship, error, and correction-and kinds of discovery-which all serve the cause of liberty. This richness of knowledge joins agent and analyst, and meaningful theory depends on tacit affinities between the two. Knowledge and Coordination highlights the recurring connections to underlying purposes and sensibilities, of analysts as well as agents. Behind economic talk of market communication and social error and correction lies Klein's Smithian allegory, with the allegorical spectator representing a conception of the social. Knowledge and Coordination instructs us to declare such allegory. Knowledge and Coordination is an authoritative take on how, by confessing the looseness of its judgments and the by-and-large status of its claims, laissez-faire liberalism makes its economic doctrines more robust and its presumption of liberty more viable.
Download or read book Game Theory and the Law written by Douglas G. Baird and published by Harvard University Press. This book was released on 1994 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to apply the tools of game theory and information economics to advance our understanding of how laws work. Organized around the major solution concepts of game theory, it shows how such well known games as the prisoner's dilemma, the battle of the sexes, beer-quiche, and the Rubinstein bargaining game can illuminate many different kinds of legal problems. Game Theory and the Law highlights the basic mechanisms at work and lays out a natural progression in the sophistication of the game concepts and legal problems considered.
Download or read book The Economics of Organization and Coordination written by Peter-J. Jost and published by Edward Elgar Publishing. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive economic approach for the analysis of organizational structure. It considers the parallels of coordination within firms, coordination between firms and market coordination and offers an economic analysis of the advantages and disadvantages of various instruments of coordination. Looking at examples in the practical world, it provides individual concepts and insights on an economic approach to organization. The book first presents an overall framework of economic organization and its architecture. It then analyzes non-hierarchical coordination mechanisms, and the structure of hierarchical coordination before addressing the choice of a suitable organizational structure. The book will be useful for students of economic and social sciences, with an emphasis on organization and personnel, as well as practitioners in organization and management. Contents: Preface Part I: Organizations and the Role of Coordination 1. Economic Organizations and their Architecture 2. The Analysis of the Coordination Problem Part II: Coordinating Economic Activities: From Markets to Hierarchies 3. The Efficiency of Markets 4. The Analysis of Transactions Part III: Hierarchies as a Coordination Mechanism 5. Basic Forms of Hierarchical Coordination 6. Organizational Structures Bibliography Index
Download or read book Calculation and Coordination written by Peter J Boettke and published by Routledge. This book was released on 2000-11-23 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays from one of the major Austrian economists working in the world today brings together in one place some of his key writings on a variety of economic issues.
Download or read book The Economics of Ignorance and Coordination written by Thierry Aimar and published by Edward Elgar Publishing. This book was released on 2014-05-14 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogic
