Resource Allocation Mechanisms derives the general welfare properties of systems in which individuals are motivated by self-interest. Satisfactory outcomes will emerge only if individual incentives are harnessed by means of a communication and payoff process, or mechanism, involving every agent. Professor Campbell employs a formal and abstract model of a mechanism that brings into prominence the criteria by which the performance of an economy is to be judged. The mechanism approach is used to prove some fundamental theorems ...
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Resource Allocation Mechanisms derives the general welfare properties of systems in which individuals are motivated by self-interest. Satisfactory outcomes will emerge only if individual incentives are harnessed by means of a communication and payoff process, or mechanism, involving every agent. Professor Campbell employs a formal and abstract model of a mechanism that brings into prominence the criteria by which the performance of an economy is to be judged. The mechanism approach is used to prove some fundamental theorems about the possibility of designing an economic system satisfying the criteria. It also establishes a way of thinking about economic issues that is becoming increasingly useful in special branches of economics, such as industrial organization and public finance. This book can be viewed as two different texts: one constitutes an introduction to the theory of mechanism design and the other is a treatment of welfare economics with conventional emphasis on Pareto optimality as well as providing substantial material on incentives, uncertainty, and existence of equilibrium.
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Add this copy of Resource Allocation Mechanisms to cart. $26.25, good condition, Sold by Second Story Books rated 4.0 out of 5 stars, ships from Rockville, MD, UNITED STATES, published 1987 by Cambridge University Press.
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Book. Octavo, xiii, 183 pages. In Good condition. Spine is black with silver print. Boards in black cloth with silver print. Short tear to cloth at top of front hinge, light shelf wear. Text block has bookplate on front pastedown. Illustrated: b&w graphs. 1373027. FP New Rockville Stock.
Add this copy of Resource Allocation Mechanisms to cart. $71.00, new condition, Sold by Egghead Books, ships from Salida, CO, UNITED STATES, published 1987 by Cambridge University Press.
