Book Description
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Author : Michael Magill
Publisher : MIT Press
Page : 566 pages
File Size : 43,89 MB
Release : 2002
Category : Business & Economics
ISBN : 9780262632546
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Author : Michael Magill
Publisher :
Page : 540 pages
File Size : 46,14 MB
Release : 1996
Category :
ISBN :
Author :
Publisher :
Page : 129 pages
File Size : 41,86 MB
Release : 1979
Category :
ISBN :
Author : Yves Younès
Publisher :
Page : 57 pages
File Size : 34,64 MB
Release : 1987
Category :
ISBN :
Author : Atsushi Kajii
Publisher :
Page : 272 pages
File Size : 26,98 MB
Release : 1991
Category : Equilibrium (Economics)
ISBN :
Author : Yves Younes
Publisher :
Page : 64 pages
File Size : 11,43 MB
Release : 1985
Category :
ISBN :
Author : Steinar Ekern
Publisher :
Page : pages
File Size : 35,44 MB
Release : 1973
Category :
ISBN :
Author : Pascal Stiefenhofer
Publisher : LAP Lambert Academic Publishing
Page : 132 pages
File Size : 24,60 MB
Release : 2010-11
Category :
ISBN : 9783843376808
Classical general equilibrium theory with incomplete markets assigns utilities to firms just as economists have always assigned utilities to consumers. This theory of the firm is at variance with the Arrow-Debreu model of the firm where decentralized markets function at their best and firms maximizing profits. This book, therefore, considers a model of the firm under time and uncertainty where the objective function of the firm is independent of any exogenously assigned average utility to it. This requires a reformulation of the role capital plays. At variance to classical GEI theory, in this set up, capital as an intermediate good does not enter the utility of the consumers. This allows a convenient formulation of production capacity with non-trivial economic consequences. The book rehabilitates the decentralization property of the Arrow Debreu model to the case where time and uncertainty enters the model in an essential way. The monograph is designed for advanced economics students, PhD students, engineers and researchers interested in production. Some suggestions for further research are mentioned.
Author : Michael J. P. Magill
Publisher :
Page : pages
File Size : 30,68 MB
Release : 2008
Category : Capital market
ISBN : 9781785366918
Author : Michael Magill
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 32,28 MB
Release : 2008
Category : Capital market
ISBN : 9781845428624
Contains articles on the general equilibrium theory of incomplete markets. This work presents the contributions to the theory of incomplete markets over a finite horizon. It examines the technical and conceptual issues that arise from the exploration of incomplete market economies over an open-ended future.