Preface

List of contributors

Section I. Information and markets

Introduction

Graciela Chichilnisky

1. Information and the organization of industry

Kenneth J. Arrow

2. Equilibrium in an economy with information goods

Vladimir I. Danilov

Gleb A. Koshevoy

Alexandr I. Sotskov

Section II. Uncertainty and finance

3. The formulation of uncertainty: Prices and states

Jacques H. Dreze

4. A remark on incomplete market equilibrium

Frank Hahn

5. Existence and optimality of a general equilibrium with endogenous uncertainty

Graciela Chichilnisky

6. Market equilibrium with endogenous price uncertainty and options

Peter H. Huang

Ho-Mou Wu

7. Catastrophe futures: Financial markets for unknown risks

Graciela Chichilnisky

Geoffrey Heal

Section III. Market externalities and justice

8. Moral hazard and independent income in a modern intertemporal-equilibrium model of involuntary unemployment and mandatory retirement

Edmund S. Phelps

9. On the optimal schedule for introducing a new technology, when there is learning by doing

P.B. Linhart

Roy Radner

10. Price and market share dynamics in network industries

Geoffrey Heal

11. Exchange in a network of trading posts

Ross M. Starr

Maxwell B. Stinchcombe

12. Equilibrium market formation causes missing markets

Walter P. Heller

13. Toward a general theory of social overhead capital

Hirofumi Uzawa

14. On population externalities and the social rate of discount

David A. Starrett

15. Trade and Welfare

Tito Cordella

Enrico Minelli

Heracles Polemarchakis

16. History as a widespread externality in some Arrow-Debreu market games

Peter J. Hammond

17. Redistribution by a representative democracy and distributive justice under uncertainty

Peter Coughlin

Author index

Subject index