The theory of implementation of socially optimal decisions in economics
By: Luis C. Corchón.
Publisher: Macmillan
Published: 1996
Place of publication: London
Language: eng
Number of pages: 165
Description: Since the early 1970s, following the pioneering work of Leo Hurwicz, economists have been studying the relationship between socially optimal goals and private self-interest. The task was to reconcile the Utopian and Hobbesian traditions, using game theory to find ways to organize the society that are both socially optimal and incentive-compatible.

The book provides a succinct and up-to-date account of this vast literature and will be welcomed by students, lecturers and anyone wishing to update their knowledge of the field.