Institutions Equilibria And Efficiency

Author : Christian Schultz
Publisher : Springer Science & Business Media
ISBN 13 : 3540281614
Total Pages : 380 pages
Book Rating : 4.10/5 ( download)

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Download or read book Institutions, Equilibria and Efficiency written by Christian Schultz and published by Springer Science & Business Media. This book was released on 2006-04-22 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Eirik G. Furubotn
Publisher : University of Michigan Press
ISBN 13 : 047202714X
Total Pages : 150 pages
Book Rating : 4.49/5 ( download)

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Download or read book Institutions and Economic Theory written by Eirik G. Furubotn and published by University of Michigan Press. This book was released on 2010-10-22 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition assesses some of the major refinements, extensions, and useful applications that have developed in neoinstitutionalist thought in recent years. More attention is given to the overlap between the New Institutional Economics and developments in economic history and political science. In addition to updated references, new material includes analysis of parallel developments in the field of economic sociology and its attacks on representatives of the NIE as well as an explanation of the institution-as-an-equilibrium-of-game approach. Already an international best seller, Institutions and Economic Theory is essential reading for economists and students attracted to the NIE approach. Scholars from such disciplines as political science, sociology, and law will find the work useful as the NIE continues to gain wide academic acceptance. A useful glossary for students is included. Eirik Furubotn is Honorary Professor of Economics, Co-Director of the Center for New Institutional Economics, University of Saarland, Germany and Research Fellow, Private Enterprise Research Center, Texas A&M University. Rudolph Richter is Professor Emeritus of Economics and Director of the Center for New Institutional Economics, University of Saarland, Germany.

Author : G. Isac
Publisher : Springer Science & Business Media
ISBN 13 : 1475736231
Total Pages : 458 pages
Book Rating : 4.36/5 ( download)

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Download or read book Complementarity, Equilibrium, Efficiency and Economics written by G. Isac and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: In complementarity theory, which is a relatively new domain of applied mathematics, several kinds of mathematical models and problems related to the study of equilibrium are considered from the point of view of physics as well as economics. In this book the authors have combined complementarity theory, equilibrium of economical systems, and efficiency in Pareto's sense. The authors discuss the use of complementarity theory in the study of equilibrium of economic systems and present results they have obtained. In addition the authors present several new results in complementarity theory and several numerical methods for solving complementarity problems associated with the study of economic equilibrium. The most important notions of Pareto efficiency are also presented. Audience: Researchers and graduate students interested in complementarity theory, in economics, in optimization, and in applied mathematics.

Author : Rüdiger Pethig
Publisher : Springer Science & Business Media
ISBN 13 : 3642730647
Total Pages : 223 pages
Book Rating : 4.41/5 ( download)

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Download or read book Efficiency, Institutions, and Economic Policy written by Rüdiger Pethig and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a neoclassical world the existence of non-zero transaction costs, nonconvex technologies, public goods and so on creates inefficiencies which can be dealt with by various institutions. But, institutions can create inefficiencies of their own. This volume addresses the issue of efficiency and institutions from different angles. First, the efficiency of modern welfare states is analyzed on a general level where topics like social justice, redistribution and rent seeking are studied in an environment of pressure groups and self-interested politicians (papers by Streit, Schlieper, WickstrAm). Second, several papers deal with more specific issues like intergenerational transfers in a social insurance system, the efficiency of law, and contractual arrangements in the labor market (Witt, Rowley and Brough, Monissen and Wenger). Third, allocation procedures for nonexclusive public goods are analyzed (GA1/4th and Hellwig, Pethig).

Author : Ye, Fred Y.
Publisher : IGI Global
ISBN 13 : 1668449374
Total Pages : 291 pages
Book Rating : 4.70/5 ( download)

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Download or read book Wealth Expanding Theory Under the Principle of Efficiency-Equity Equilibrium written by Ye, Fred Y. and published by IGI Global. This book was released on 2022-06-30 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been suggested that national economic policies should focus on taxation to achieve social equity and interest rates for economic efficiency; wealth distribution can balance efficiency and equity through tax rates, interest rates, and exchange rates. Additionally, while the economic system seeks efficiency and the social system pursues equity, common interest modifications with elastic exchange and tax rates should be applied for balancing efficiency and equity. Wealth Expanding Theory Under the Principle of Efficiency-Equity Equilibrium is a comprehensive reference source that considers economic philosophy for extending economic cognition, balancing economic efficiency and social equity, and future interstellar economics. Covering key topics such as poverty, fiscal policy, and macroeconomics, this reference work is ideal for policymakers, government officials, business owners, economists, managers, researchers, scholars, academicians, practitioners, instructors, and students.

Author : Eirik Grundtvig Furubotn
Publisher : University of Michigan Press
ISBN 13 : 9780472086801
Total Pages : 576 pages
Book Rating : 4.04/5 ( download)

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Download or read book Institutions and Economic Theory written by Eirik Grundtvig Furubotn and published by University of Michigan Press. This book was released on 2000 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introduction to and critical assessment of the theory and applications of the New Institutional Economics.

Author : Malcolm Rutherford
Publisher : Cambridge University Press
ISBN 13 : 9780521574471
Total Pages : 244 pages
Book Rating : 4.71/5 ( download)

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Download or read book Institutions in Economics written by Malcolm Rutherford and published by Cambridge University Press. This book was released on 1996-07-13 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines and compares the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, with the 'new' institutionalism developed from neoclassical and Austrian sources.

Author : Jack J. Vromen
Publisher :
ISBN 13 :
Total Pages : 308 pages
Book Rating : 4.05/5 ( download)

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Download or read book Evolution and Efficiency written by Jack J. Vromen and published by . This book was released on 1994 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Emilio Barucci
Publisher : Springer
ISBN 13 : 1447173228
Total Pages : 836 pages
Book Rating : 4.29/5 ( download)

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Download or read book Financial Markets Theory written by Emilio Barucci and published by Springer. This book was released on 2017-06-08 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises. Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-classical preferences, noise traders and market microstructure. This textbook is aimed at graduate students in mathematical finance and financial economics, but also serves as a useful reference for practitioners working in insurance, banking, investment funds and financial consultancy. Introducing necessary tools from microeconomic theory, this book is highly accessible and completely self-contained. Advance praise for the second edition: "Financial Markets Theory is comprehensive, rigorous, and yet highly accessible. With their second edition, Barucci and Fontana have set an even higher standard!"Darrell Duffie, Dean Witter Distinguished Professor of Finance, Graduate School of Business, Stanford University "This comprehensive book is a great self-contained source for studying most major theoretical aspects of financial economics. What makes the book particularly useful is that it provides a lot of intuition, detailed discussions of empirical implications, a very thorough survey of the related literature, and many completely solved exercises. The second edition covers more ground and provides many more proofs, and it will be a handy addition to the library of every student or researcher in the field."Jaksa Cvitanic, Richard N. Merkin Professor of Mathematical Finance, Caltech "The second edition of Financial Markets Theory by Barucci and Fontana is a superb achievement that knits together all aspects of modern finance theory, including financial markets microstructure, in a consistent and self-contained framework. Many exercises, together with their detailed solutions, make this book indispensable for serious students in finance."Michel Crouhy, Head of Research and Development, NATIXIS

Author : Norman Schofield
Publisher : Springer Science & Business Media
ISBN 13 : 3642195199
Total Pages : 426 pages
Book Rating : 4.98/5 ( download)

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Download or read book Political Economy of Institutions, Democracy and Voting written by Norman Schofield and published by Springer Science & Business Media. This book was released on 2011-06-11 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest research in the field of Political Economy, dealing with the integration of economics and politics and the way institutions affect social decisions. The authors are eminent scholars from the U.S., Canada, Britain, Spain, Italy, Mexico and the Philippines. Many of them have been influenced by Nobel laureate Douglass North, who pioneered the new institutional social sciences, or by William H. Riker who contributed to the field of positive political theory. The book focuses on topics such as: case studies in institutional analysis; research on war and the formation of states; the analysis of corruption; new techniques for analyzing elections, involving game theory and empirical methods; comparing elections under plurality and proportional rule, and in developed and new democracies.