Studies in resource allocation processes /

By:

Arrow, Kenneth J

Contributor(s):

Hurwicz, Leonid

Material type: Text

TextPublication details: Cambridge ; New York : Cambridge University Press , c 1977.Description: xiv, 482 p. :illISBN:

0521215226

Subject(s):

DDC classification:

330.01'51 ARR

LOC classification:

HB135 .A79

Online resources:

Summary: This book examines the problems involved in allocating resources in an economic system where decision-making is decentralized into the hands of individuals and individual enterprises. The decisions made by these economic agents must be coordinated because the input decisions of some must eventually equal the output decisions of others. Coordination arises naturally out of the mathematical theory of optimization but there is still the question of how it can be achieved in practice with dispersed knowledge. The essays here explore the many facets of this problem. Nine papers are grouped under the title 'Economies with a single maximand'. They include papers on static and dynamic optimization, decentralization within firms, and nonconvexities in optimizing problems.

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	330.01'51 ARR (Browse shelf(Opens below))	Available		31008100104286

Browsing CBN HQ Library shelves, Shelving location: General Stacks, Collection: Non-fiction Close shelf browser (Hides shelf browser)

Previous								Next
Previous	330.0112'729 PRO Problems and challenges in modelling and forecasting Caribbean economics /	330.01'51 APP Applications of control theory to economic analysis /	330.01'51 APP Applications of control theory to economic analysis /	330.01'51 ARR Studies in resource allocation processes /	330.01'51 BAC Economics and the Theory of Games/	330.01'51 BRO The Brookings model :	330.01'51 CHI Fundamental methods of mathematical economics /	Next

Some of the studies prepared in cooperation with other authors.

Includes bibliographies and indexes.

This book examines the problems involved in allocating resources in an economic system where decision-making is decentralized into the hands of individuals and individual enterprises. The decisions made by these economic agents must be coordinated because the input decisions of some must eventually equal the output decisions of others. Coordination arises naturally out of the mathematical theory of optimization but there is still the question of how it can be achieved in practice with dispersed knowledge. The essays here explore the many facets of this problem. Nine papers are grouped under the title 'Economies with a single maximand'. They include papers on static and dynamic optimization, decentralization within firms, and nonconvexities in optimizing problems.

rpm 15/09/2019

Loans

There are no comments on this title.

to post a comment.