[PDF] Theory Of The Firm In Incomplete Markets eBook

Author : Michael Magill
Publisher : MIT Press
Page : 566 pages
File Size : 36,16 MB
Release : 2002
Category : Business & Economics
ISBN : 9780262632546

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Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.

Author : Pascal Stiefenhofer
Publisher : LAP Lambert Academic Publishing
Page : 132 pages
File Size : 24,22 MB
Release : 2010-11
Category :
ISBN : 9783843376808

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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 : Oliver E. Williamson
Publisher : Oxford University Press, USA
Page : 260 pages
File Size : 30,6 MB
Release : 1993
Category : Business & Economics
ISBN : 9780195083569

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This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.

Author : Georges Dionne
Publisher : Springer Science & Business Media
Page : 748 pages
File Size : 18,68 MB
Release : 1992
Category : Business & Economics
ISBN : 0792392043

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Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.

Author : Kalman J. Cohen
Publisher : Prentice Hall
Page : 552 pages
File Size : 42,47 MB
Release : 1975
Category : Business & Economics
ISBN :

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Business firms, decision making and economic models; Market structures and the theory of the firm; New approaches to the theory of the firm; Implications of microeconomics for the economic system.

Author : Nicolai J. Foss
Publisher : Taylor & Francis
Page : 488 pages
File Size : 45,57 MB
Release : 2000
Category : Agentteori
ISBN : 9780415196383

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Includes over 60 classic papers, these volumes collect together contributions on the theory of the firm, beginning with Ronald Coase's classic work of 1937 and ending with important papers published as late as 1998.

Author : Emilio Barucci
Publisher : Springer Science & Business Media
Page : 488 pages
File Size : 31,23 MB
Release : 2002-12-11
Category : Business & Economics
ISBN : 9781852334697

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A presentation of classical asset pricing theory, this textbook is the only one to address the economic foundations of financial markets theory from a mathematically rigorous standpoint and to offer a self-contained critical discussion based on empirical results. Tools for understanding the economic analysis are provided, and mathematical models are presented in discrete time/finite state space for simplicity. Examples and exercises included.

Author : Bernard Salanie
Publisher : MIT Press
Page : 239 pages
File Size : 30,79 MB
Release : 2000-10-10
Category : Business & Economics
ISBN : 0262264625

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Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. In this book Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. He includes discussions of theories of collective decision making, as well as elementary models of public economics and industrial organization. Although public economics is traditionally defined as the positive and normative study of government action over the economy, Salanié confines himself to microeconomic aspects of welfare economics; he considers taxation and the effects of public spending only as potential remedies for market failures. He concludes with a discussion of the theory of general equilibrium in incomplete markets.