Download PDF, EPUB, MOBI Information, Incentives and the Economics of Control
Download PDF, EPUB, MOBI Information, Incentives and the Economics of Control
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Author: G. C. Archibald
Page Count: none
Published Date: 19 Oct 2009
Publisher: Cambridge University Press (Virtual Publishing)
Publication Country: Cambridge, United Kingdom
Language: none
ISBN: 9780511571718
File size: 43 Mb
Download Link: Information, Incentives and the Economics of Control
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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.
Read online Information, Incentives and the Economics of Control Buy Information, Incentives and the Economics of Control Download and read Information, Incentives and the Economics of Control ebook, pdf, djvu, epub, mobi, fb2, zip, rar, torrent Download to iPad/iPhone/iOS, B&N nook Information, Incentives and the Economics of Control
Information, Incentives and the Economics of Control by G. C. Archibald
Author: G. C. Archibald
Page Count: none
Published Date: 19 Oct 2009
Publisher: Cambridge University Press (Virtual Publishing)
Publication Country: Cambridge, United Kingdom
Language: none
ISBN: 9780511571718
File size: 43 Mb
Download Link: Information, Incentives and the Economics of Control
---------------------------------------------------------------
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.
Read online Information, Incentives and the Economics of Control Buy Information, Incentives and the Economics of Control Download and read Information, Incentives and the Economics of Control ebook, pdf, djvu, epub, mobi, fb2, zip, rar, torrent Download to iPad/iPhone/iOS, B&N nook Information, Incentives and the Economics of Control