Economic Dynamics and Information

by Jaroslav Zajac

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 corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium.

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Year of publication:	2006
Other Persons:	Zajac, Jaroslav (contributor)
Publisher:	Berlin, Heidelberg : Springer-Verlag Berlin Heidelberg
Subject:	Dynamisches Gleichgewicht \| Dynamic equilibrium \| Informationsökonomik \| Economics of information \| Begrenzte Rationalität \| Bounded rationality \| Asymmetrische Information \| Asymmetric information \| Vermögen \| Wealth \| Pareto-Optimum \| Pareto efficiency \| Theorie \| Theory \| Kreditmarkt \| Gleichgewichtstheorie \| Informationsökonomie \| Mathematisches Modell
Description of contents:	Table of Contents [gbv.de] ; Description [swbplus.bsz-bw.de] ; Description [zbmath.org]

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Extent:	Online-Ressource (X, 274 p, digital)
Series:	SpringerLink / Bücher
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Rational Expectations of Efficiency and Incentive SchemesDynamic 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, Heterogenous Beliefs and Prediction Strategies in Asset Allocation -- Design, Knowledge and Stabilization of Economy -- Decision Process, Assets and Information -- Edowments, 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.
ISBN:	978-3-540-32695-3 ; 978-3-540-32694-6
Other identifiers:	10.1007/3-540-32695-2 [DOI]
Classification:	Methoden und Techniken der Betriebswirtschaft ; Wahrscheinlichkeitsrechnung
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013520741