In this book overlapping generations economies are analysed from a game theoretical point of view and the social acceptability of consumption allocations is studied in infinite horizon models of pure exchange economieswith agents with finite lifetimes who behave cooperatively. The core of such...

This book provides a systematic approach to sequential decision problems from the vantage point of economic theory. The emphasis is on the interplay between irreversibility, uncertainty and information. In particular, it is shown how flexibility (liquidity) considerations can be modelled in a...

This book presents an econometric modeling approach for analysing macroeconomic disequilibria, focusing on the market for goods and labor and the spillovers between these markets transmitted through firms' decisions in the production sphere. The macroeconomic markets are treated as heterogeneous...

The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects...

This book provides a systematic, formal treatment of a recently proposed extension of the expected utility model of choice under risk: the so-called rank-dependent utility model. In this approach the representation of preferences is based upon a (generalized) utility function defined on the...

With the help of the method of synergetics this study shows a consistent formal derivation of the dynamics of a macroeconomic system as the effect ofthe decision behavior of the microeconomic agents. A special issue is the economic interpretation of the synergetic modelling of the microlevel and...

The purpose of this volume is to present recent developments in the use of fuzzy sets in broadly perceived interactive optimization and mathematical programming. After some introductory sections some human related issues are covered. Then, basic issues related to fuzzy optimization are dealt...

This book explores the econometric implications of a policy-maker's learning. In a simple discrete model the policymaker maximizes the discounted sum of tax revenues subject to a constraint which involves an unknown parameter specifying the occurrence of Bayesian learning. An optimal balance...

The volume contains the proceedings of a workshop on "Parallel Algorithms and Transputers for Optimization" which was held at the University of Siegenon November 9, 1991 plus some invited papers covering topics related to this workshop. In contrast to many other publications on parallel...

A Silverman game is a two-person zero-sum game defined in terms of two sets S I and S II of positive numbers, and two parameters, the threshold T 1 and the penalty v 0. Players I and II independently choose numbers from S I and S II, respectively. The higher number wins 1, unless it is at...