Organizations With Incomplete Information Essays in Economic Analysis A Tribute to Roy Radner at Meripustak

Organizations With Incomplete Information Essays in Economic Analysis A Tribute to Roy Radner

Books from same Author: Mukul Majumdar

Books from same Publisher: Cambridge University Press

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  • General Information  
    Author(s)Mukul Majumdar
    PublisherCambridge University Press
    ISBN9780521553001
    Pages358
    BindingHardcover
    LanguageEnglish
    Publish YearMarch 2015

    Description

    Cambridge University Press Organizations With Incomplete Information Essays in Economic Analysis A Tribute to Roy Radner by Mukul Majumdar

    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.show more