This Book is in Good Condition. Clean Copy With Light Amount of Wear. 100% Guaranteed. Codice inventario libreria
Robert Townsend has made path-breaking contributions to contract theory and general equilibrium analysis. In this book, he combines the theory of general economic equilibrium with the notion that allocations and institutions of a given economy might be Pareto optimal to try to explain various salient features of the medieval village economy. The medieval village economy in many ways reflects the economies of poor high-risk agrarian villages of the contemporary world and serves as an ideal testing ground for Townsend's theories.
The environment of the medieval village resembles those of relatively simple models with such key elements as uncertainty and private information, and its institutions display distinctive features such as fragmented landholding patterns. In this book standard models of macroeconomics and the literature on contract theory and mechanism design are reinterpreted, applied, and extended. The author draws both descriptive institutional material and particular parameter values from historical observations, and characterizes solutions to the models analytically and numerically. The idea is to see whether the observed outcomes can be explained, shedding light both on the historical material and the models themselves.
"Townsend's interesting book is a welcome addition to a string of recent works by leading economic theorists.... [He] views the medieval village as a closed economy characterized by the absence of markets, by aggregate and idiosyncratic risk, and by private information regarding output and actions."--Journal of Economic Literature
Condizione libro: Used
Descrizione libro Hardback. Condizione libro: Very Good. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Codice libro della libreria GOR007953466
Descrizione libro . Hardcover. Condizione libro: Very Good. A very good copy with minor wear. For non-UK markets items of 1.5 kg or more may require an additional shipping charge. Codice libro della libreria HBS-00256206-B
Descrizione libro Princeton University Press, 1993. Hardcover. Condizione libro: Very Good. Codice libro della libreria P020691042705
Descrizione libro Princeton University Press, 1993. Hardcover. Condizione libro: Like New. Codice libro della libreria P010691042705
Descrizione libro Princeton University Press, 1993. Hardcover. Condizione libro: New. Codice libro della libreria P110691042705
Descrizione libro Princeton University Press, 1993. Hardcover. Condizione libro: New. book. Codice libro della libreria 0691042705
Descrizione libro Princeton University Press, 1993. Hardcover. Condizione libro: Good. Ships with Tracking Number! INTERNATIONAL WORLDWIDE Shipping available. May not contain Access Codes or Supplements. Buy with confidence, excellent customer service!. Codice libro della libreria 0691042705