Organization with Incomplete Information: Essays in Economic Analysis
Subtitle: A Tribute to Roy Radner
Publisher: Cambridge University Press
Published: September 13, 1998
Language: eng
Format: Hardcover
Number of pages: 360
ISBN-13: 9780521553001
Subjects: Management decision making; Microeconomics; Economics - Theory; Methods Of Economic Analysis; Business & Economics; Business / Economics / Finance; Uncertainty; Business/Economics; Organization; Mathematical models; Economic History; Business & Economics / Economic History; Decision making--Mathematical models; Economics - General; Decision making
First sentence: In the now classical extension of the general competitive model to include time and uncertainty, it was observed that if at time 0 (today) there are markets for future delivery of all goods contingent on the date and state of nature, then the resulting equilibrium allocation will be Pareto efficient.