Organization with Incomplete Information
Essays in Economic Analysis - a Tribute to Roy Radner
Edited by Mukul Majumdar
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Organization with Incomplete Information by Mukul Majumdar
Book DescriptionThere have been systematic attempts over the last twenty-five years to explore the implications of decision making with incomplete information and to model an 'economic man' as an information-processing organism. These efforts are associated with the work of Roy Radner, who joins other analysts in this collection to offer accessible overviews of the existing literature on topics such as Walrasian equilibrium with incomplete markets, rational expectations equilibrium, learning, Markovian games, dynamic game-theoretic models of organization, and experimental work on mechanism selection. Some essays also take up relatively new themes related to bounded rationality, complexity of decisions, and economic survival. The collection overall introduces models that add to the toolbox of economists, expand the boundaries of economic analysis, and enrich our understanding of the inefficiencies and complexities of organizational design in the presence of uncertainty.
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Book DetailsISBN: 9780521084666
(228mm x 152mm x 21mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 14-Oct-2008
Country of Publication: United Kingdom
Books By Author Mukul Majumdar
Decentralization in Infinite Horizon Economies, Hardback (December 2015)
Decentralization in Infinite Horizon Economies brings together a collection of essays that attempt to explore one of the basic themes in microeconomics - can a decentralized economy attain an efficient or optimal allocation of resources when it is allowed to evolve without a predetermined terminal date?
Equilibrium, Welfare and Uncertainty: Beyond Arrow-Debreu, Paperback (November 2013)
Mukul Majumdar explores general equilibrium theory as part of economic theory and looks at topics such as Pareto optimality, Cournot-Nash equilibrium, concepts of uncertainty and mechanism design.
Random Dynamical Systems, Paperback (January 2007)
Surveys topics in the theory and applications of dynamical systems subject to random shocks.
Organization with Incomplete Information, Hardback (September 1998)» View all books by Mukul Majumdar
This collection provides a definitive and accessible account of recent research in the theory of decision-making and organization-design with incomplete information.
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