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Item Details
Title: ORGANIZATION WITH INCOMPLETE INFORMATION
ESSAYS IN ECONOMIC ANALYSIS - A TRIBUTE TO ROY RADNER
By: Mukul Majumdar (Editor)
Format: Paperback

List price: £38.00
Our price: £33.25
Discount:
12.5% off
You save: £4.75
ISBN 10: 0521084660
ISBN 13: 9780521084666
Availability: Usually dispatched within 1-3 weeks.
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Publisher: CAMBRIDGE UNIVERSITY PRESS
Pub. date: 30 June, 2008
Pages: 364
Description: This collection provides a definitive and accessible account of recent research in the theory of decision-making and organization-design with incomplete information.
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.
Illustrations: 29 b/w illus. 2 tables
Publication: UK
Imprint: Cambridge University Press
Returns: Returnable
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