Studies in Economic Theory

This book presents the state-of-the-art in non-linear dynamics and sunspots. These two topics have been the core of an international conference on instability and public policies in a globalized world, organized at Aix-Marseille School of …

This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines …

This is the first book combining research on the Global Environment, Catastrophic Risks and Economic Theory and Policy. Modern economic theory originated in the middle of the twentieth century when industrial expansion coupled with population …

One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables remain static. Man

In real life, as well as in economic models, individuals often make decisions in an uncertain environment. In many cases, a problem which an optimizing agent faces can be formulated or reformulated as a problem of optimal timing of a certain irrev

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

This book contains a collection of original and state-of-the-art contributions in rational choice and general equilibrium theory. Among the topics are preferences, demand, equilibrium, core allocations, and testable restrictions. The contributing aut

This book consists of five acts and two interludes, which are all written as dialogues between three main characters and other supporting characters. Each act discusses the epistemological, institutional and methodological foundations of game theory

One of the main problems in current economic theory is to write contracts which are Pareto optimal, incentive compatible, and also implementable as a perfect Bayesian equilibrium of a dynamic, noncooperative game. The question arises whether it is po

In the area of dynamic economics, David Cass’s work has spawned a number of important lines of research, including the study of dynamic general equilibrium theory, the concept of sunspot equilibria, and general equilibrium theory when markets are

In many industries the tariffs are not strictly proportional to the quantity purchased, i. e, they are nonlinear. Examples of nonlinear tariffs include railroad and electricity schedules and rental rates for durable goods and space. The major justifi

This is an introduction to the foundations of economic property rights t- ory (EPRT). In this volume, a ?rst step in the EPRT research program, rules concerningeconomicpropertyrights(e. p. r. s),entrepreneurialagreements,and enterprises are discussed

The work on this book started many years ago as an attempt to simplify and unify some results usually taught in courses in mathematical economics. The economic interpretation of the re­ sults were representations of preferences as sums or …

A classically rational subject is a maximiser: he chooses the best alternative(s) according to some utility function, a paradigm going back to the eighteenth century. One of the ways to overcome its well-known deficiences is to extend it to take …

Experimental methods are now a mainstream empirical methodology in economics. The papers in this volume represent some recent developments in research on experimental markets. The articles span a variety of topics related to experimental markets …

The primary aim of this book is to present notions of convex analysis which constitute the basic underlying structure of argumentation in economic theory and which are common to optimization problems encountered in many applications. The intended …

Crime is frightening. It breeds emotional responses which can lead to counterproductive governmental policy. To allow a rational analysis of these important concerns, Criminal Dilemmas applies intuition from economics, political science, and game …

This collection of essays brings together some articles on dynamic optimization models that exhibit chaotic behavior. Chapters 3, 4, 5, 6, 7, and 9 appeared in a Symposium on Chaotic Dynamical Systems in Economic Theory (Volume 4, Number 5, 1994).