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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.

Economics --- Resource Allocation --- Welfare economics --- Equilibrium (Economics) --- Consumption (Economics) --- Economics. --- Resource allocation. --- Welfare economics. --- AA / International- internationaal --- 380.22 --- 305.4 --- 330.580 --- 338.047 --- Concurrentie. Monopolie, duopolie, oligopolie. --- Econometrie van de inkomensvorming, de spaarvorming, de kapitaalvorming. Input-output tabellen. --- Gecontroleerde economie. Geleide economie. Welvaarststaat. Algemeenheden. --- Privé en openbare bedrijven. Openbare diensten. Gemengde economie. --- Consumption (Economics). --- Equilibrium (Economics). --- Resource allocation --- Economic policy --- Social policy --- Allocation of resources --- Resources allocation --- Management --- Operations research --- Organization --- Planning --- Feasibility studies --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Statics and dynamics (Social sciences) --- Economic theory --- Political economy --- Social sciences --- Economic man --- Consumer demand --- Consumer spending --- Consumerism --- Spending, Consumer --- Demand (Economic theory) --- Econometrie van de inkomensvorming, de spaarvorming, de kapitaalvorming. Input-output tabellen --- Gecontroleerde economie. Geleide economie. Welvaarststaat. Algemeenheden --- Privé en openbare bedrijven. Openbare diensten. Gemengde economie --- Concurrentie. Monopolie, duopolie, oligopolie --- Business, Economy and Management

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This book, first published in 2006, examines the incentives at work in a wide range of institutions to see how and how well coordination is achieved by informing and motivating individual decision makers. The book examines the performance of agents hired to carry out specific tasks, from taxi drivers to CEOs. It investigates the performance of institutions, from voting schemes to kidney transplants, to see if they enhance general well being. The book examines a broad range of market transactions, from auctions to labor markets, to the entire economy. The analysis is conducted using specific worked examples, lucid general theory, and illustrations drawn from news stories. Of the seventy different topics and sections, only twelve require a knowledge of calculus. The second edition offers new chapters on auctions, matching and assignment problems, and corporate governance. Boxed examples are used to highlight points of theory and are separated from the main text.

Social choice --- Mathematical models --- AA / International- internationaal --- 330.2 --- -302.13 --- Choice, Social --- Collective choice --- Public choice --- Choice (Psychology) --- Social psychology --- Welfare economics --- Economische analyse en research. Theorie van de informatie. --- Business, Economy and Management --- Economics --- 302.13 --- Social psychology. --- Mathematical models. --- Mass psychology --- Psychology, Social --- Human ecology --- Psychology --- Social groups --- Sociology --- Economische analyse en research. Theorie van de informatie --- Social choice - Mathematical models

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