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Allocation, Information and Markets by John Eatwell, Murray Milgate, Peter Newman (eds.) PDF

By John Eatwell, Murray Milgate, Peter Newman (eds.)

ISBN-10: 033349539X

ISBN-13: 9780333495391

ISBN-10: 1349202150

ISBN-13: 9781349202157

This is an extract from the 4-volume dictionary of economics, a reference ebook which goals to outline the topic of economics this day. 1300 topic entries within the whole paintings disguise the large subject matters of monetary thought. This quantity concentrates concerning allocation info and markets.

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Additional resources for Allocation, Information and Markets

Sample text

The present value may not be well-defined, because the infinite sequence that gives it diverges. This creates certain technical problems passed over here. A more important difficulty is that linear functionals exist that are not defined 23 Allocation, Information and Markets by price systems. Radner's approach was to characterize efficient programmes in terms of maximization of present value relative to a linear functional on the commodity space. Radner showed, technical matters aside, that: 1.

Primenenie matematicheskikh metodov v voprosakh analyza grusopotokov (The application of mathematical methods to problems of freight flow analysis). In Problemy Povysheniia Effektivnosty Raboty Transporta (Problems of raising the efficiency of transportation), ed. V. Zvonkov, Moscow and Leningrad: Izdatel'stvo Akademii Nauk SSSR. C 1951a. Analysis of production as an efficient combination of activities. In Activity Analysis of Production and Allocation, ed. T. Koopmans, Cowles Commission Monograph No.

Koopmans, Cowles Commission Monograph No. 13, New York: Wiley, ch. 3, 33-97. C 1951b. Efficient allocation of resources. Econometrica 19,455-65. C 1957. Three Essays on the State of Economic Science. New York: McGraw-Hill, 66-104. Kuhn, H. and Tucker, A. 1951. Nonlinear programming. In Proceedings of the Second Berkeley Symposium on Mathematical Statistics and Probability, ed. J. Neyman, Berkeley: University of California Press, 481-92. Ledyard, J. 1968. Resource allocation in unselfish environments.

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Allocation, Information and Markets by John Eatwell, Murray Milgate, Peter Newman (eds.)

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