Advances in Mathematical Economics
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Advances in Mathematical Economics

Advances in Mathematical Economics

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International Edition


About the Book

The role of asymmetric information in allocation of resources, together with the associated information-revelation process, has long been a central focus of economic research. While the bulk of the literature addresses these is­ sues within the framework of principal-agent relationship, which essentially reduces the problem to the sole principal's (the sole Stackelberg leader's) optimization problem subject to the agents' (the Stackelberg followers') re­ sponses, there are recent attempts to extend analysis to other economic setups characterized by different relationships among decision-makers. A notable strand of such attempts is the core analysis of incomplete in­ formation. Here, there is no Stackelberg-type relationship, and more impor­ tantly the players can talk to each other for coordinated choice of strategies. See, e.g., Wilson (1978) for a pioneering work; Yannelis (1991) for formula­ tion of feasibility of a strategy as its measurability; Ichiishi and Idzik (1996) for introduction of Bayesian incentive-compatibility to this strand; Ichiishi, Idzik and Zhao (1994) for information revelation (that is, endogenous deter­ mination of updated information structures); Ichiishi and Radner (1997) and Ichiishi and Sertel (1998) for studies of a specific model of Chandler's firm in multidivisional form for sharper results; and Vohra (1999) for a recent work. It is a common postulate in these works that every player takes part in design of a mechanism and also in execution of the signed contract.

Table of Contents:
Research Articles.- Turnpike theorems for positive multivalued stochastic operators.- Functional differential inclusion on closed sets in Banach spaces.- Job matching: a multi-principal, multi-agent model.- Term structure and SPDE.- Fixed point theorems and the existence of economic equilibria based on conditions for local directions of mappings.- Efficiency of stochastic transfers in a directed graph.- Allocations of labour resources on trajectories for the model with discrete innovations.


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Product Details
  • ISBN-13: 9784431702788
  • Publisher: Springer Verlag, Japan
  • Publisher Imprint: Springer Verlag, Japan
  • Height: 234 mm
  • No of Pages: 164
  • Returnable: N
  • ISBN-10: 4431702784
  • Publisher Date: 01 Jan 2000
  • Binding: Hardback
  • Language: English
  • Returnable: Y
  • Width: 156 mm


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Advances in Mathematical Economics
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Advances in Mathematical Economics
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