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Author: Robert Dorfman Publisher: ISBN: Category : Commerce Languages : en Pages : 170
Book Description
Explains theoretical concepts of information, decision and control, relating the analytic apparatus of economics to practices of businessmen, accountants, and everyday consumers.
Author: Robert Dorfman Publisher: ISBN: Category : Commerce Languages : en Pages : 170
Book Description
Explains theoretical concepts of information, decision and control, relating the analytic apparatus of economics to practices of businessmen, accountants, and everyday consumers.
Author: Israel Mayer Kirzner Publisher: Ludwig von Mises Institute ISBN: 1610160290 Category : Languages : en Pages : 340
Book Description
Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.
Author: Paul Milgrom Publisher: Columbia University Press ISBN: 023154457X Category : Business & Economics Languages : en Pages : 222
Book Description
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.
Author: Robert Dorfman
Author: Robert Dorfman
Author: Israel Mayer Kirzner
Author: Richard H. Leftwich
Author: Thorstein Veblen
Author: Milton M. Shapiro
Author: Richard H. Leftwich
Author: Paul B. Trescott
Author: 
Author: Paul Milgrom
Author: Federal Reserve Bank of Philadelphia