Information, Incentives and the Economics of Control Book + PRICE WATCH * Amazon pricing is not included in price watch

Information, Incentives and the Economics of Control Book

This 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.Read More

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  • Product Description

    This book examines methods for controlling or guiding a sector of the economy that do not require all the apparatus of economic planning or rely on the vain hope of sufficiently "perfect" competition, but instead rely entirely on the self-interest of economic agents and voluntary contract. The methods involved require trial-and-error steps in real time, with the target adjusted as the results of each step become known. The author shows that the methods are equally applicable to industries that are wholly privately owned, wholly nationalized, mixed or labor-managed.

  • 0521022797
  • 9780521022798
  • G. C. Archibald
  • 22 December 2005
  • Cambridge University Press
  • Paperback (Book)
  • 192
  • New Ed
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