Although it is one of the major achievements in the history of economic thought, the general equilibrium model is not completely satisfactory as a descriptive tool. In the 1970s several economists settled on a new way to study economic relationships that is often called the "economics of information." The theory of contracts is one of its main building blocks.
The theory of contracts uses partial equilibrium models that take into account the full complexity of strategic interactions between privately informed agents in well-defined institutional settings. The models sum up the constraints imposed by the prevailing institutional setting through a contract, either explicit or implicit. They make intensive use of noncooperative game theory with asymmetric information.
The Economics of Contracts introduces graduate students and nonspecialist professional economists to the theory of contracts. It grew out of a course Professor Salanié gave to third-year Stanford graduate students and third-year students at the Ecole Nationale de la Statistique et de l'Administration Economique. The book focuses on the methods used to analyze the models, but also discusses a few of the many applications the theory has generated in various fields of economics. The author's goal is to give readers the basic tools to create their own applications.
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Bernard Salanié is Research Fellow of LEI (CREST) in Paris, Professor at École Polytechnique, and Managing Editor of the Review of Economic Studies. His books include The Microeconomics of Market Failures (2000) and The Economics of Taxation (2003), both published by The MIT Press.Language Notes:
Text: English (translation)
Original Language: French
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Book Description The MIT Press, 1997. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110262193868
Book Description The MIT Press, 1997. Hardcover. Book Condition: New. book. Bookseller Inventory # M0262193868
Book Description The MIT Press. Hardcover. Book Condition: New. 0262193868 New Condition. Bookseller Inventory # NEW7.1000876
Book Description The MIT Press, 1997. Hardcover. Book Condition: Neu. 2nd Edition. neu, noch in Schutzfolie, Versand spätestens am nächsten Werktag 106063 Sprache: Englisch Gewicht in Gramm: 525. Bookseller Inventory # 359629