Organization with Incomplete Information: Essays in Economic Analysis: A Tribute to Roy Radner

doi:10.1017/CBO9780511551840

There have been systematic attempts over the last twenty-five years to explore the implications of decision making with incomplete information and to model an 'economic man' as an information-processing organism. These efforts are associated with the work of Roy Radner, who joins other analysts in this collection to offer accessible overviews of the existing literature on topics such as Walrasian equilibrium with incomplete markets, rational expectations equilibrium, learning, Markovian games, dynamic game-theoretic models of organization, and experimental work on mechanism selection. Some essays also take up relatively new themes related to bounded rationality, complexity of decisions, and economic survival. The collection overall introduces models that add to the toolbox of economists, expand the boundaries of economic analysis, and enrich our understanding of the inefficiencies and complexities of organizational design in the presence of uncertainty.

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Organization with Incomplete Information

Essays in Economic Analysis: A Tribute to Roy Radner

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Contents

Frontmatter
pp i-iv

Contents
pp v-vi

List of Contributors
pp vii-viii

Preface
pp ix-x

Introduction: Searching for Paradigms
pp 1-19

1 - Equilibrium with Incomplete Markets in a Sequence Economy
pp 20-41

2 - The Existence of Rational Expectations Equilibrium: A Retrospective
pp 42-60

3 - Rational Expectations and Rational Learning
pp 61-109

4 - Dynamic Games in Organization Theory
pp 110-158

5 - The Equilibrium Existence Problem in General Markovian Games
pp 159-207

6 - A Practical Person's Guide to Mechanism Selection: Some Lessons from Experimental Economics
pp 208-238

7 - Organizations with an Endogenous Number of Information Processing Agents
pp 239-305

8 - A Modular Network Model of Bounded Rationality
pp 306-340

Index
pp 341-346

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Organization with Incomplete Information

Essays in Economic Analysis: A Tribute to Roy Radner

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