Author: Steinar Ekern
Publisher:
ISBN:
Category :
Languages : no
Pages :
Book Description
On the theory of the firm in incomplete markets
Theory of Incomplete Markets
Author: Michael Magill
Publisher: MIT Press
ISBN: 9780262632546
Category : Business & Economics
Languages : en
Pages : 566
Book Description
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Publisher: MIT Press
ISBN: 9780262632546
Category : Business & Economics
Languages : en
Pages : 566
Book Description
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.
Theory of the Firm in Incomplete Markets
Author: Pascal Stiefenhofer
Publisher: LAP Lambert Academic Publishing
ISBN: 9783843376808
Category :
Languages : en
Pages : 132
Book Description
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.
Publisher: LAP Lambert Academic Publishing
ISBN: 9783843376808
Category :
Languages : en
Pages : 132
Book Description
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.
The Theory of the Firm and the Role of the Manager in an Economy with Incomplete Markets
Author: Julia Herszkowicz
Publisher:
ISBN:
Category : Industrial management
Languages : en
Pages : 39
Book Description
Publisher:
ISBN:
Category : Industrial management
Languages : en
Pages : 39
Book Description
Foundations of Insurance Economics
Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 0792392043
Category : Business & Economics
Languages : en
Pages : 748
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.
Publisher: Springer Science & Business Media
ISBN: 0792392043
Category : Business & Economics
Languages : en
Pages : 748
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.
The Nature of the Firm
Author: Oliver E. Williamson
Publisher: Oxford University Press, USA
ISBN: 9780195083569
Category : Business & Economics
Languages : en
Pages : 260
Book Description
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.
Publisher: Oxford University Press, USA
ISBN: 9780195083569
Category : Business & Economics
Languages : en
Pages : 260
Book Description
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.
Theory of the Firm
Author: Kalman J. Cohen
Publisher: Prentice Hall
ISBN:
Category : Business & Economics
Languages : en
Pages : 552
Book Description
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.
Publisher: Prentice Hall
ISBN:
Category : Business & Economics
Languages : en
Pages : 552
Book Description
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.
The Theory of the Firm
Author: Nicolai J. Foss
Publisher: Taylor & Francis
ISBN: 9780415196383
Category : Agentteori
Languages : en
Pages : 488
Book Description
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.
Publisher: Taylor & Francis
ISBN: 9780415196383
Category : Agentteori
Languages : en
Pages : 488
Book Description
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.
Financial Markets Theory
Author: Emilio Barucci
Publisher: Springer Science & Business Media
ISBN: 9781852334697
Category : Business & Economics
Languages : en
Pages : 488
Book Description
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.
Publisher: Springer Science & Business Media
ISBN: 9781852334697
Category : Business & Economics
Languages : en
Pages : 488
Book Description
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.
Information Structures in Economics
Author: Manfred Nermuth
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 256
Book Description
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 256
Book Description