Resource Allocation Mechanisms

Donald E. Campbell

ISBN 10: 0521319900 / ISBN 13: 9780521319904

Editore: Cambridge University Press, 1987

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Druck auf Anfrage Neuware - Printed after ordering - Resource Allocation Mechanisms derives the general welfare properties of systems in which individuals are motivated by self-interest. Satisfactory outcomes will emerge only if individual incentives are harnessed by means of a communication and payoff process, or mechanism, involving every agent. Professor Campbell employs a formal and abstract model of a mechanism that brings into prominence the criteria by which the performance of an economy is to be judged. The mechanism approach is used to prove some fundamental theorems about the possibility of designing an economic system satisfying the criteria. It also establishes a way of thinking about economic issues that is becoming increasingly useful in special branches of economics, such as industrial organization and public finance. This book can be viewed as two different texts: one constitutes an introduction to the theory of mechanism design and the other is a treatment of welfare economics with conventional emphasis on Pareto optimality as well as providing substantial material on incentives, uncertainty, and existence of equilibrium.

Codice articolo 9780521319904

Dati bibliografici

• Titolo: Resource Allocation Mechanisms
• Editore: Cambridge University Press
• Data di pubblicazione: 1987
• Lingua: Inglese
• ISBN 10: 0521319900
• ISBN 13: 9780521319904
• Rilegatura: Taschenbuch
• Condizione: Neu
• Dimensioni: 229 L x 152 A x 11 P (millimetri) 229 millimetri di larghezza per 152 millimetri di altezza per 11 millimetri di profondità
• Peso: 298 grammi

Descrizione articolo

Riassunto

An introduction to the theory of mechanism design, and a treatment of welfare economics.

Descrizione del libro

This book can be viewed as two different texts: one constitutes an introduction to the theory of mechanism design and the other is a treatment of welfare economics with conventional emphasis on Pareto optimality as well as providing substantial material on incentives, uncertainty, and existence of equilibrium.