Studies in resource allocation processes
Kenneth Joseph Arrow, Leonid Hurwicz, Cambridge University Press (Publisher)
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.
Print Book, English, 2007
Repr., first paperback version View all formats and editions
Cambridge University Press, Cambridge [etc.], 2007
XIV, 482 s. : il. ; 23 cm.
9780521215220, 9780521034005, 0521215226, 0521034000
1424378970
Preface; Acknowledgments for reprinted articles; Part I. General Introduction: the design of resource allocation mechanisms L. Hurwicz; Part II. Economies with a Single Maximand: 1. General survey: decentralization and computation in resource allocation K. J. Arrow and L. Hurwicz; 2. Static characterization: constraint qualifications in maximization problems K. J. Arrow, L. Hurwicz and H. Uzawa; Static characterization: quasi-concave programming K. J. Arrow and A. C. Enthoven; 3. Decentralization within firms: optimization, decentralization, and internal pricing in business firms K. J. Arrow; 4. Dynamic characterization: gradient methods for constrained maxima K. J. Arrow and L. Hurwicz; 5. The handling of nonconvexities: reduction of constrained maxima to saddle-point problems K. J. Arrow and L. Hurwicz; The handling of nonconvexities: a general saddle-point result for constrained optimization K. J. Arrow, F. J. Gould and S. M. Howe; The handling of nonconvexities: convexity of asymptotic average production possibility sets L. Hurwicz and H. Uzawa; Part III. Economies with Multiple Objectives: 6. Stability of competitive equilibrium: on the stability of competitive equilibrium I K. J. Arrow and L. Hurwicz; Stability of competitive equilibrium: on the stability of competitive equilibrium II K. J. Arrow, H. D. Block and L. Hurwicz; Stability of competitive equilibrium: on the stability of competitive equilibrium II: postscript K. J. Arrow and L. Hurwicz; Stability of competitive equilibrium: some remarks on the equilibria of economic systems K. J. Arrow and L. Hurwicz; 7. Competitive stability under weak gross substitutability: the 'Euclidean distance' approach K. J. Arrow and L. Hurwicz; Competitive stability under weak gross substitutability: nonlinear price adjustment and adaptive expectations K. J. Arrow and L. Hurwicz; 8. Stability in oligopoly: stability of the gradient process in n-person games K. J. Arrow and L. Hurwicz; 9. Studies in local stability: a theorem on expectations and the stability of equilibrium A. C. Enthoven and K. J. Arrow; Studies in local stability: a note on expectations and stability K. J. Arrow and M. Nerlove; Studies in local stability: a note on dynamic stability K. J. Arrow and M. McManus; Studies in local stability: stability independent of adjustment speed K. J. Arrow; 10. Dynamic shortages: dynamic shortages and price rises: the engineer-scientist case K. J. Arrow and W. M. Capron; Dynamic shortages: price-quantity adjustments in multiple markets with rising demands K. J. Arrow; 11. Foundations of price dynamics: toward a theory of price adjustment K. J. Arrow; Part IV. General Characterizations of Allocation Processes: Optimality and information efficiency in resource allocation processes L. Hurwicz; On the dimensional requirements of informationally decentralized Pareto-satisfactory processes L. Hurwicz; On informationally decentralized systems L. Hurwicz; Appendix: an optimality criterion for decision-making under ignorance K. J. Arrow and L. Hurwicz; Author index; Subject index; Index of examples.
First published 1977