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The theory of incomplete markets

By: Material type: TextTextPublication details: 2002 The MIT Press CambridgeDescription: xvii, 540 pISBN:
  • 9780262632546
Subject(s): DDC classification:
  • 339.5 M2T4-I
Summary: The Theory of Incomplete Markets provides a unified framework for analyzing the real, financial, and monetary sectors of an economy. It describes an innovative theory that takes into account the fact that in order to coordinate their activities and share their risks, agents are forced by the imperfections in their knowledge and their propensity for opportunistic behavior to trade sequentially and to make only limited contractual commitments into the future. This book studies the consequences of trading with such a sequential and incomplete market structure for the equilibria of an economy: competitive markets no longer provide the ideal way of allocating resources and even with rational expectations monetary policy is nonneutral. (http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=8747)
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Item type Current library Item location Shelving location Call number Status Date due Barcode
Books Vikram Sarabhai Library Rack 24-B / Slot 1059 (0 Floor, East Wing) General Stacks 339.5 M2T4-I (Browse shelf(Opens below)) Available 175548

The Theory of Incomplete Markets provides a unified framework for analyzing the real, financial, and monetary sectors of an economy. It describes an innovative theory that takes into account the fact that in order to coordinate their activities and share their risks, agents are forced by the imperfections in their knowledge and their propensity for opportunistic behavior to trade sequentially and to make only limited contractual commitments into the future. This book studies the consequences of trading with such a sequential and incomplete market structure for the equilibria of an economy: competitive markets no longer provide the ideal way of allocating resources and even with rational expectations monetary policy is nonneutral. (http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=8747)

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