Resource Allocation Mechanisms by Donald E Campbell
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.
Campbell, Donald E.: - Donald E. Campbell is CSX Professor of Economics and Public Policy at William and Mary College, Williamsburg, Virginia, where he has taught since 1990. He previously served as Professor of Economics at the University of Toronto from 1970 to 1990. He is the author of Resource Allocation Mechanisms (Cambridge University Press, 1987), and Equity, Efficiency and Social Choice (1992). His published research has appeared in leading journals such as Econometrica, the Journal of Political Economy, American Economic Review, the Journal of Economic Theory, Review of Economics Studies, and the Journal of Mathematical Economics.
| SKU | Unavailable |
| ISBN 13 | 9780521319904 |
| ISBN 10 | 0521319900 |
| Title | Resource Allocation Mechanisms |
| Author | Donald E Campbell |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | Cambridge University Press |
| Year published | 1987-04-24 |
| Number of pages | 200 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |