Essays on Regulation Under Incomplete Information PDF Download

Author: Devon Anne Garvie
Publisher: Ann Arbor, Mich. : University Microfilms International
ISBN:
Category :
Languages : en
Pages : 262

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Author: Mukul Majumdar
Publisher: Cambridge University Press
ISBN: 9780521553001
Category : Business & Economics
Languages : en
Pages : 372

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Book Description
There have been systematic attempts over the last twenty-five years to explore the implications of decision making with incomplete information and to model an 'economic man' as an information-processing organism. These efforts are associated with the work of Roy Radner, who joins other analysts in this collection to offer accessible overviews of the existing literature on topics such as Walrasian equilibrium with incomplete markets, rational expectations equilibrium, learning, Markovian games, dynamic game-theoretic models of organization, and experimental work on mechanism selection. Some essays also take up relatively new themes related to bounded rationality, complexity of decisions, and economic survival. The collection overall introduces models that add to the toolbox of economists, expand the boundaries of economic analysis, and enrich our understanding of the inefficiencies and complexities of organizational design in the presence of uncertainty.

Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 0792392043
Category : Business & Economics
Languages : en
Pages : 748

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Book Description
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: Wesley Magat
Publisher: Routledge
ISBN: 1135998620
Category : Political Science
Languages : en
Pages : 201

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Rules in the Making represents an attempt to revolutionize ways of thinking about regulatory decision-making. The book tries to show that statistical methodologies can be used to determine what factors are important in the establishment of government regulation by developing a mathematical model of the regulatory process and agency behavior. The model is then tested using a case study of the Environmental Protection Agency's setting of effluent discharge standards under the Clean Water Act. Originally published in 1986

Author: Janke, Oliver
Publisher: Lehmanns Media
ISBN: 396543506X
Category : Business & Economics
Languages : en
Pages : 244

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Book Description
In this thesis, we analyze various problems of dynamic portfolio optimization as well as green capital requirements under risk constraints and incomplete information. First, we examine the problem of optimal expected utility under the constraint of a utility-based shortfall risk measure in an incomplete market. The existence and uniqueness of an optimal solution to the problem are shown using a Lagrange multiplier and duality methods. Second, we consider the optimization problem under various levels of the investor’s information. By using martingale representation theorems, we demonstrate the existence and uniqueness of optimal solutions, which differ in their market dynamics. Third, we analyze the effects of green- and brownwashing on banks’ lending to firms, on the regulator’s deposit insurance subsidy, and on carbon emissions under different green capital requirement functions. Furthermore, we show that green capital requirements may compromise financial stability.

Author: Peter Berck
Publisher: Routledge
ISBN: 1351769561
Category : Social Science
Languages : en
Pages : 419

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Book Description
This title was first published in 2003. Economists have had increasing success in arguing the merits of market-based approaches to environmental problems. By making polluting expensive, market-based approaches provide polluters with incentives to clean up, rather than mandates to stop polluting. These approaches include pollution taxes, transferable emissions permits and subsidies for pollution abatement. The purpose of this volume is to explore the situations where Command and Control (CAC) may not be all bad, and in fact might even have some advantages over market-based instruments (MBI).

Author:
Publisher:
ISBN:
Category : Dissertation abstracts
Languages : en
Pages : 848

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Author: Albert Breton
Publisher: Cambridge University Press
ISBN: 9780521771337
Category : Business & Economics
Languages : en
Pages : 464

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Book Description
The essays in this volume, written by well-known economists and other social scientists from North America, Europe, and, in one case, Australia, share to an unusual degree a common concern with the competitive mechanisms that underlie collective decisions and with the way they are embedded in institutional settings. This gives the book a unitary inspiration whose value is clear from the new understanding and insights its chapters provide on important theoretical and practical issues such as the social dimension and impact of trust, the management of information in bureaucratic settings, the role of political parties in constitutional evolution, inter-level rivalry and reassignments of powers in federal and unitary systems of government, the impact of ethnicity and nationalism on federal institutions or arrangements, and the response of governments and overarching institutions of globalization

Author: Katrin Eleonora Millock
Publisher:
ISBN:
Category :
Languages : en
Pages : 294

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Author: Robert W. Crandall
Publisher: Brookings Institution Press
ISBN:
Category : Law
Languages : en
Pages : 232

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Book Description
Discusses the effectiveness of government regulations designed to reduce air pollution and recommends changes in air pollution policies and laws.