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An Introduction to the Theory of Mechanism Design
What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? In An Introduction to the Theory of Mechanism Design, Tilman Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself as well as the res...
Distribution and Development
Most of the world's people live in "developing" economies, as do most of the world's poor. The predominant means of economic development is economic growth. In this book Gary Fields asks to what extent and in what circumstances economic growth improves the material standard of living of a country's people. Most development economists agree that economic growth raises the incomes of people in all parts of the income distribution and lowers the poverty rate. At the same time, some groups lose out because of changes accompanying economic growth. Fields examines these beliefs, asking what variables should be measured to determine whether progress is being made and what policies and circumstances cause some countries to do better than others. He also shows how the same data can be interpreted to reach different, even conflicting, conclusions. Using both theoretical and empirical approaches, Fields defines and examines inequality, poverty, income mobility, and economic well-being. Finally, he considers various policies for broad-based growth. Copublished with the Russell Sage Foundation.
Conversations on Social Choice and Welfare Theory - Vol. 1
This volume presents interviews that have been conducted from the 1980s to the present with important scholars of social choice and welfare theory. Starting with a brief history of social choice and welfare theory written by the book editors, it features 15 conversations with four Nobel Laureates and other key scholars in the discipline. The volume is divided into two parts. The first part presents four conversations with the founding fathers of modern social choice and welfare theory: Kenneth Arrow, John Harsanyi, Paul Samuelson, and Amartya Sen. The second part includes conversations with scholars who made important contributions to the discipline from the early 1970s onwards. This book will appeal to anyone interested in the history of economics, and the history of social choice and welfare theory in particular.
Bargaining in the Shadow of the Market
Bargaining in the Shadow of the Market OCo Selected Papers on Bilateral and Multilateral Bargaining consists of selected research in bargaining carried out by Kalyan Chatterjee by himself and with various co-authors. Chatterjee has been one of the earliest researchers to work on noncooperative bargaining theory and has contributed to bilateral bargaining with parties having private information as well as multilateral coalition formation models. Some of his work in each of these areas finds place here.The main theme of this collection of papers is the nature of negotiations when participants have alternatives to continue negotiating, either by beginning negotiations with a different partner o...
Economic Reform in India
In this volume, leading economists assess India's economic performance, policies and institutions.
Internal Boundaries of Metal Additive Manufacturing
In the early days, there were significant limitations to the build size of laser powder bed fusion (L-PBF) additive manufacturing (AM) machines. However, machine builders have addressed that drawback by introducing larger L-PBF machines with expansive build volumes. As these machines grow, their size capability approaches that of directed energy deposition (DED) machines. Concurrently, DED machines have gained additional axes of motion which enable increasingly complex part geometries—resulting in near-overlap in capabilities at the large end of the L-PBF build size. Additionally, competing technologies, such as binder jet AM and metal material extrusion, have also increased in capability,...
S.D. Burman
SD, or Sachin Dev Burman, the man who gave Hindi film music its grammar, is perhaps the most enigmatic figure in Indian cine history. As the young scion of the Tripura royal family, SD struck out into the world of cinema and popular music. The early years were difficult, professionally and personally. His unconventional choice of profession and marriage to a 'commoner' caused his family to ostracize him, and his formal training was not enough to stave off rejections. This well-researched biography is both a tribute to a great artist, and a deep inquiry into what made his music great. Going well beyond merely listing his greatest songs, it explores hitherto unknown stories about the creation ...
Rational Choice, Collective Decisions, and Social Welfare
An examination of the phenomenon of social cooperation failure, even amongst a group of rational individuals.
The Oxford Handbook of the Indian Economy
India's remarkable economic growth in recent years has made it one of the fastest growing economies in the world. This Oxford Handbook reflects India's growing economic importance on the world stage, and features research on core topics by leading scholars to understand the Indian economic miracle and the obstacles India faces in transforming itself into a modern 21st-century economy.
Social Design
This book contains invited essays in memory of Leonid Hurwicz spanning a large area of economic, social and other sciences where the implementation or enforcement of institutions and rules requires the design of effective mechanisms. The foundations of these articles are set by social choice concepts; game theory; Nash, Bayesian and Walrasian equilibria; complete and incomplete information. Besides in-depth treatments of well-established parts of mechanism and implementation theory, contributions on novel directions deal, for instance, with a quantum approach to game and decision making under uncertainty; digitalization; and the design of block chain for trading. The outstanding competence and reputation of the authors reflect the appreciation of the fundamental contributions and the lasting admiration of the personality and the work of Leonid Hurwicz.
