Economic Dynamics and Information

• Main Author: Zajac, Jaroslav (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2006.
• Series: Lecture Notes in Economics and Mathematical Systems, 576
• Subjects: Artificial intelligence.; Mathematics.; Economics.; Management science.; Economic theory.; Macroeconomics.; Economics, general.; Mathematics, general.; Economic Theory/Quantitative Economics/Mathematical Methods.; Artificial Intelligence (incl. Robotics).; Macroeconomics/Monetary Economics//Financial Economics.

This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the correspon...

Table of Contents:

• Rational Expectations of Efficiency and Incentive Schemes
• Dynamic Adjustment Processes and the Effect of the Economic System
• Optimal Incentive Schemes with a Measure Space and Decision
• Dynamics and Information
• Life Cycle and Risk-Sharing of Information Under Restriction
• Risk Choices, Heterogeneous Beliefs and Prediction Strategies in Allocation
• Design, Knowledge and Stabilization of Economy
• Decision Process, Assets and Information
• Endowments, Money, Debt and Risky Choice of Decision
• Market Mechanisms, Portfolios and Uncertainty of Decisions
• Stability of Markets, Uncertainty, and Strategic Behavior
• Market Making, Information, Beliefs, and Chaos
• Volatility, Information, and Return Distribution
• Shocks, Uncertainty, and Preferences Over Information
• Externalities, Market Information and Contracts
• Cycles, Chaos, Stabilization and Technological Innovation
• Information Cascades, Expectations, and Risky Choices
• Conclusion.