Our understanding of the efficient workings of decentralized price systems is severely tested by the problems presented when these systems are modelled without a definite terminal date. This book brings together a selection of recent work on the topic, and presents a summary and overview.

Product Description: One of the fundamental themes in economic theory is the study of the role of prices in achieving an optimal allocation of resources in a competitive, decentralized economy. The book begins with a review of the basic results on the rigorous elaboration of the Walras-Pareto theory (following the lead of Arrow and Debreu) in the context of a static economy with many agents...read more

Product Description: Over the last 40 years, Professor David Gale has played a leading role in developing two themes of fundamental importance to economic theory. As a tribute to his creative research, this volume contains contributions from some leading researchers who explore different directions in these areas...read more

Product Description: This collection contains essays that provide definitive and accessible accounts of recent research on some of the most important topics in the theory of decision-making and organization-design with incomplete information. Aimed primarily at nonspecialists, some of the essays indicate the limitations of accepted paradigms and suggest directions of future research...read more

Product Description: One of the fundamental themes in economic theory is the study of the role of prices in achieving an optimal allocation of resources in a competitive, decentralized economy. The book begins with a review of the basic results on the rigorous elaboration of the Walras-Pareto theory (following the lead of Arrow and Debreu) in the context of a static economy with many agents...read more

Product Description: This treatment provides an exposition of discrete time dynamic processes evolving over an infinite horizon. Chapter 1 reviews some mathematical results from the theory of deterministic dynamical systems, with particular emphasis on applications to economics...read more

Product Description: This collection of essays brings together some articles on dynamic optimization models that exhibit chaotic behavior. Chapters 3, 4, 5, 6, 7, and 9 appeared in a Symposium on Chaotic Dynamical Systems in Economic Theory (Volume 4, Number 5, 1994)...read more (view table of contents, read Amazon.com's description)

Product Description: This book is a collection of articles from leading researchers in three broad areas: capital-investment theory, development and welfare economics, and issues related to capitalismn and socialism. It contains a comprehensive overview of the relevant literature and a good coverage of recent developments in each field...read more

Product Description: This collection contains essays that provide definitive and accessible accounts of recent research on some of the most important topics in the theory of decision-making and organization-design with incomplete information. Aimed primarily at nonspecialists, some of the essays indicate the limitations of accepted paradigms and suggest directions of future research...read more (view table of contents, read Amazon.com's description)

Product Description: This collection contains contributions from researchers in three broad areas: capital-investment theory; development and welfare economics; and issues related to capitalism and socialism. Some of the contributions are expository, providing an overview of what has been achieved in the relevant literature to date...read more