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Institutions, Equilibria and Efficiency - Essays in Honor of Birgit Grodal (Paperback, Softcover reprint of hardcover 1st ed. 2006) Loot Price: R4,518
Discovery Miles 45 180
Institutions, Equilibria and Efficiency - Essays in Honor of Birgit Grodal (Paperback, Softcover reprint of hardcover 1st ed....

Institutions, Equilibria and Efficiency - Essays in Honor of Birgit Grodal (Paperback, Softcover reprint of hardcover 1st ed. 2006)

Christian Schultz, Karl Vind

Series: Studies in Economic Theory, 25

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Loot Price R4,518 Discovery Miles 45 180 | Repayment Terms: R423 pm x 12*

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Competition and efficiency is at the core of economic theory. This volume collects papers of leading scholars, which extend the conventional general equilibrium model in important ways: Efficiency and price regulation are studied when markets are incomplete and existence of equilibria in such settings is proven under very general preference assumptions. The model is extended to include geographical location choice, a commodity space incorporating manufacturing imprecision and preferences for club-membership, schools and firms. Inefficiencies arising from household externalities or group membership are evaluated. Core equivalence is shown for bargaining economies. The theory of risk aversion is extended and the relation between risk taking and wealth is experimentally investigated. Other topics include determinacy in OLG with cash-in-advance constraints, income distribution and democracy in OLG, learning in OLG and in games, optimal pricing of derivative securities, the impact of heterogeneity at the individual level for aggregate consumption, and adaptive contracting in view of uncertainty.

General

Imprint: Springer-Verlag
Country of origin: Germany
Series: Studies in Economic Theory, 25
Release date: February 2010
First published: 2006
Editors: Christian Schultz • Karl Vind
Dimensions: 235 x 155 x 20mm (L x W x T)
Format: Paperback
Pages: 384
Edition: Softcover reprint of hardcover 1st ed. 2006
ISBN-13: 978-3-642-06637-5
Categories: Books > Business & Economics > Economics > Economic theory & philosophy
Books > Business & Economics > Economics > Econometrics > General
LSN: 3-642-06637-2
Barcode: 9783642066375

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