Economic Dynamics and Information

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Paperback, 274 blz. | Engels
Springer Berlin Heidelberg | 2006e druk, 2006
ISBN13: 9783540326946
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Springer Berlin Heidelberg 2006e druk, 2006 9783540326946
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Samenvatting

This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium.

Specificaties

ISBN13:9783540326946
Taal:Engels
Bindwijze:paperback
Aantal pagina's:274
Uitgever:Springer Berlin Heidelberg
Druk:2006

Inhoudsopgave

Rational Expectations of Efficiency and Incentive Schemes.- Dynamic Adjustment Processes and the Effect of the Economic System.- Optimal Incentive Schemes with a Measure Space and Decision.- Dynamics and Information.- Life Cycle and Risk-Sharing of Information Under Restriction.- Risk Choices, Heterogeneous Beliefs and Prediction Strategies in Allocation.- Design, Knowledge and Stabilization of Economy.- Decision Process, Assets and Information.- Endowments, Money, Debt and Risky Choice of Decision.- Market Mechanisms, Portfolios and Uncertainty of Decisions.- Stability of Markets, Uncertainty, and Strategic Behavior.- Market Making, Information, Beliefs, and Chaos.- Volatility, Information, and Return Distribution.- Shocks, Uncertainty, and Preferences Over Information.- Externalities, Market Information and Contracts.- Cycles, Chaos, Stabilization and Technological Innovation.- Information Cascades, Expectations, and Risky Choices.- Conclusion.

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        Economic Dynamics and Information