| Document Type
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BL
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| Record Number
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992639
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| Doc. No
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b747009
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| Title & Author
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Organizations with incomplete information : : essays in economic analysis : a tribute to Roy Radner /\ edited by Mukul Majumdar.
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| Publication Statement
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Cambridge ;New York :: Cambridge University Press,, 1998.
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| Page. NO
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1 online resource (ix, 346 pages) :: illustrations
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| ISBN
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0511551843
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: 9780511551840
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0521553008
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9780521553001
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Introduction : searching for paradigms / Mukul Majumdar -- Equilibrium with incomplete markets in a sequence economy / Wayne Shafer -- The existence of rational expectations equilibrium : a retrospective / Beth Allen and James S. Jordan -- Rational expectations and rational learning / Lawrence E. Blume and David Easley -- Dynamic games in organization theory / Roy Radner -- The equilibrium existence problem in general Markovian games / Prajit K. Dutta and Rangarajan K. Sundaram -- A practical person's guide to mechanism selection : some lessons from experimental economics / Andrew Schotter -- Organizations with an endogenous number of information processing agents / Timothy Van Zandt -- A modular network model of bounded rationality / Kenneth R. Mount and Stanley Reiter.
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| Abstract
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There 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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| Subject
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Decision making-- Mathematical models.
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Organization-- Mathematical models.
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Uncertainty-- Mathematical models.
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| Subject
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Decision making-- Mathematical models.
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Organization-- Mathematical models.
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Uncertainty-- Mathematical models.
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| Dewey Classification
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330.1015118
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| LC Classification
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HD30.23.O754 1998
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| Added Entry
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Majumdar, Mukul,1944-
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Radner, Roy,1927-
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| Added Entry
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Cambridge University Press.
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