Studies in Resource Allocation Processes
Language: English
Published by Cambridge University Press, New York, 1977
- Hardcover
- Used
Seller: West With The Night, Tucson, AZ, U.S.A.West With The Night
AbeBooks seller since September 10, 2018
Condition: Used
£ 26.94
Quantity: 1 available
Add to basketItem description from seller
Sewn binding. Cloth over boards. 500 p. Contains: Unspecified. Audience: General/trade. One of the central questions of economics relates to the coordination of individual units within a large organization to achieve the central objectives of that organization. This book examines the problems involved in allocating resources in an economic system where decision-making is decentralized into the hands of individuals and individual enterprises. The decisions made by these economic agents must be coordinated because the input decisions of some must eventually equal the output decisions of others. Coordination arises naturally out of the mathematical theory of optimization but there is still the question of how it can be achieved in practice with dispersed knowledge. The essays here explore the many facets of this problem. Nine papers are grouped under the title 'Economies with a single maximand'. They include papers on static and dynamic optimization, decentralization within firms, and nonconvexities in optimizing problems. Fourteen papers are concerned with 'Economies with multiple objectives'. Among the topics covered here are stability of competitive equilibrium, stability in oligopology, and dynamic shortages. The final part of the book includes three papers on informational efficiency and informationally decentralized systems. Leonid Hurwitcz is the Nobel Prize Winner 2007 for The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, along with colleagues Eric Maskin and Roger Myerson, for his work on the effectiveness of markets. Very good in very good dust jacket. light shelfwear ot the jacket, previous owner name on first page.…
Seller Inventory # Alibris.0028279
- Title
- Studies in Resource Allocation Processes
- Author
- Arrow, Kenneth J (Editor), and Hurwicz, Leonid (Editor)
- Publisher
- Cambridge University Press, New York
- Publication year
- 1977
- Dust jacket
- Dust Jacket Included
- Binding
- Hard cover
- Language
- English
- ISBN 10
- 0521215226
- ISBN 13
- 9780521215220
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West With The Night
Tucson, AZ, U.S.A.
AbeBooks seller since September 10, 2018
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