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Synopsis
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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Book Description
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.
"About this title" may belong to another edition of this title.
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Resource Allocation Mechanisms
Published by
Cambridge University Press (edition ), 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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Paperback. Condition: Good. It's a preowned item in good condition and includes all the pages. It may have some general signs of wear and tear, such as markings, highlighting, slight damage to the cover, minimal wear to the binding, etc., but they will not affect the overall reading experience. Seller Inventory # 0521319900-11-1
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
Used
Paperback
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
Used
Softcover
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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Resource Allocation Mechanisms
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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Resource Allocation Mechanisms (Paperback)
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Cambridge University Press, Cambridge, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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Paperback. Condition: new. Paperback. 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. 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. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780521319904
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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Resource Allocation Mechanisms
Published by
Cambridge University Press, 1987
ISBN 10: 0521319900
ISBN 13: 9780521319904
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