Business & Economics Books:

Information, Incentives and the Economics of Control

Format

Paperback

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Information, Incentives and the Economics of Control by G. C. Archibald
$85.99
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Description

This 1992 book examines alternative methods for achieving optimality without all the apparatus of economic planning (such as information retrieval, computation of solutions, and separate implementation systems), or a vain reliance on sufficiently 'perfect' competition. All rely entirely on the self-interest of economic agents and voluntary contract. The author considers methods involving feedback iterative controls which require the prior selection of a 'criterion function', but no prior calculation of optimal quantities. The target is adjusted as the results for each step become data for the criterion function. Implementation is built in by the incentive structure, and all controls rely on consistency with the self-interest of individuals. The applicability of all the methods is shown to be independent of the form of ownership of enterprises: examples are given for industries which are wholly privately owned, wholly nationalized, mixed and labour-managed.
Release date NZ
December 22nd, 2005
Illustrations
6 b/w illus. 1 table
Imprint
Cambridge University Press
Pages
192
Dimensions
139x216x13
ISBN-13
9780521022798
Product ID
2058211

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