Organization with Incomplete Information: Essays in Economic Analysis: A Tribute to Roy Radner - Hardcover

Hardcover

ISBN 10: 0521553008 ISBN 13: 9780521553001

Publisher: Cambridge University Press, 1998

Synopsis

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.

About this title

Book 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 non-specialists, some of the essays indicate the limitations of accepted paradigms and suggest directions of future research.

Edition details

• Publisher: Cambridge University Press
• Publication date: 1998
• Language: English
• ISBN 10: 0521553008
• ISBN 13: 9780521553001
• Binding: Hardcover
• Number of pages: 358
• Editor: Majumdar Mukul