The proceedings of the Second US-Italy Seminar on Variable Structure Systems is published in this volume. Like the first seminar, its conception evolved from common research interests on bilinear systems at the Istituto di Automatica of Rome University and at the Electrical and Computer Engineering Department of Oregon State University. Again, the seminar was focused on variable structure systems in general. In this case, however, emphasis is given to applications in biology and economics along with theoretical investi gations which are so necessary to establish a unified theory and to...

Springer Book Archives

Explores three different approaches to the two-person bargaining problem with incomplete information: game theoretic analysis; the study of the spontaneous behaviour of subjects in a game-playing environment; and the investigation of programmed strategies in a strategy experiment.

Inventory changes in countries are a major indicator of cyclical fluctuations. This study investigates what macroeconomists have learned about inventories in the light of statistical problems, and also considers the role of monetary shocks in propagating business cycles.

Economic theory of the last fifty years has been dominated by the paradigm of General Equilibrium Theory, based on the scientific work of Walras-Pareto-Cassel-Wald-Hicks-Arrow-De breu-McKenzie. Some of its grounding assumptions are: all prices are fully flexible; an auctioneer appropriately manipulates all prices according to the law of supply and demand; every con sumer has only one budget constraint; all agents are perfectly informed; no actions are taken by agents before a vector of prices has been found such that all markets clear. Indeed, when all markets clear every agent can implement...

This book is intended as a contribution to the theory of markets with imperfect information. The subject being nearly limitless, only certain selected topics are discussed. These are outlined in the Introduction (Ch. 0). The remainder of the book is divided into three parts. All results of economic significance are contained in Parts II & III. Part I introduces the main tools for the analysis, in particular the concept of an information structure. Although most of the material presented in Part I is not original, it is hoped that the detailed and self-contained exposition will help the reader...

The topic of this book has fascinated me for a long time. I have given lectures on the economic theory of public enterprise as professor at the universities of Bonn, Vienna and Graz since 1974 and as visiting professor at the London School of Economics since 1976. I discussed particular problems at scientific conferences. This book is the result of all this scientific business. I have greatly benefited from discussing various ideas with my colleagues. In Germany and Austria, above all N.Andel, Ch.B.Blankart, D.Elixmann, B.Genser, G.Gyarfas, R. Holzmann , Ch.Seidl, J.Tillmann, R.Watzke,...

Introducing his book "The Theory of UnemPloyment Reconsidered," Professor Malinvaud expressed several years ago his hope "to convey his] strong belief that the reconsideration is a major step in the development of our science." In view of the stimulating effect this approach has on economic research, it seems now that many economists do indeed share Malinvaud's belief and are ready to devote their time and their skill to ensure the realization of that progress. This book, grown out of a Ph. D. thesis presented at the Universit Catholique de Louvain, aims at contributing in its own way to...

The theory of optimal decisions in a stochastic environment has seen many new developments in recent years. The implications of such theory for empirical and policy applications are several. This book attempts to analyze some of the impor tant applied aspects of this theory and its recent developments. The stochastic environment is considered here in specific form, e.g., (a) linear programs (LP) with parameters subject to a probabilistic mechanism, (b) decision models with risk aversion, (c) resource allocation in a team, and (d) national economic planning. The book attempts to provide new...