Economics in a Changing World

This volume contains papers in the broadly defined area of microeconomic theory presented to the International Economic Association Tenth World Congress in Moscow. A wide range of topics is represented - from the foundations of economic choice through strategic behaviour, multiple market interactions, and asymmetric information to applications in such diverse areas as the internal organization of firms, patent policy, product markets, and labour supply, finishing with a piece on the history of oligopoly theory. The collection strongly suggests that microeconomic theory is indeed thriving as a fascinating and useful central part of economic science.

Inhalt
Preface; A.B.Atkinson - Acknowledgements - List of Contributors - Abbreviations and Acronyms - Introduction; B.Allen - PART 1: PLENARY LECTURE - Profit Maximization and Economic Theory; B.Grodal - PART 2: RATIONALITY - Suppose Everybody Behaved Like That?; K.Binmore - Aggregation, Learning and Rationality; J-M.Grandmont - Discussion; A.Kirman - Evolution and Rationality: Some Recent Game-Theoretic Results; A.Banerjee & J.Weibull - Discussion; K.Binmore - PART 3: GAME THEORY, GENERAL EQUILIBRIUM AND INFORMATION - Implementation in Iteratively Undominated Strategies; D.Abreu - Mechanism Design with Incomplete Information; S.Srivastava - Issues and Results in general Equilibrium Theory; B.Allen - The Determinacy of Equilibria 25 Years Later; A.Mas-Colell - On the Value of Information; C.H.Papadimitriou -Theories of Optimal Capital Structure: A Managerial Perspective; O.Hart - PART 4: APPLICATIONS - Non-Hierarchical Aspects of the Internal Organization of the Enterprise: A Partial Survey in Comparative Perspective; M.Aoki - Discussion; J.McMillan - Patents as an Incentive System; S.Scotchmer - Empirical Studies of Product Markets; A.Kirman & L.Phlips - The Labour Supply of Lone Mothers in Denmark and the United Kingdom; N.Smith, I.Walker & N.Westergard-Nielsen - Competition and Cooperation Among Producers: Cournot Revisited; C.Schmidt - Index