Information, Incentives And the Economics of Control (Paperback)

Preface; Part I. Introductory: 1. Two preliminary matters; 2. Extended preferences; Part II. Iterative Controls: 3. Feedback control processes; 4. First example: an externality problem; 5. Second application of the control process: Lerner's problem; 6. Third example of the control process: implementation of a second-best solution; 7. Two examples of the control process in a mixed economy; Part III. Non-convexities: 8. Non-convexities in the technology; 9. Non-convexity and optimal product choice; Part IV. Cooperatives: 10. Pareto-improvements and cooperatives; 11. Achieving pareto-efficiency in the LMF; 12. Risk-sharing in Illyria (the ELMF); Appendix: the taxation of economic rent; Notes; Bibliography; Index.