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Institutions, Equilibria and Efficiency: Essays in Honor of Birgit Grodal (Studies in Economic Theory) [Hardcover]

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Item description for Institutions, Equilibria and Efficiency: Essays in Honor of Birgit Grodal (Studies in Economic Theory) by Christian Schultz...

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.





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Item Specifications...


Pages   383
Est. Packaging Dimensions:   Length: 9.5" Width: 6.2" Height: 1.1"
Weight:   1.5 lbs.
Binding  Hardcover
Release Date   Mar 16, 2006
Publisher   Springer
ISBN  3540281606  
ISBN13  9783540281603  


Availability  133 units.
Availability accurate as of Jan 22, 2017 01:38.
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Product Categories

1Books > Subjects > Business & Investing > Economics > Econometrics
2Books > Subjects > Business & Investing > Economics > General
3Books > Subjects > Business & Investing > Economics > Theory
4Books > Subjects > Business & Investing > General



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