By Partha Dasgupta, Douglas Gale, Oliver Hart, Eric Maskin
Those unique essays specialise in quite a lot of issues on the topic of Frank Hahn's uncommon paintings in economics. starting from marketplace research and online game idea to the microeconomic foundations of macroeconomics and from equilibrium and optimality with lacking markets to economics and society, they mirror the variety of modem examine in monetary conception. What distinguishes Hahn's paintings and lots of of the essays during this booklet is that the incentive frequently comes from functional matters approximately unemployment, rate reductions and funding, poverty, or the steadiness of markets. The essays partially I care for the microeconomic foundations of macroeconomics - a box during which Hahn has made very important contributions, so much particularly within the conception of financial economics. issues comprise an assessment of Hahn's contribution to the speculation of distribution and such macroeconomic issues as coordination failure, a number of equilibria, and strategic matters. half II comprises fresh contributions to online game concept reflecting Hahn's curiosity within the query of what's rational habit. The essays partially III pay attention to general-equilibrium concept with lacking markets, a box during which Hahn has made significant advances. even if the essays handle a special set of concerns , they percentage with Hahn's works such topics as industry failure, indeterminacy of equilibrium, and the position of cash. Partha Dasgupta is Professor of Economics at Cambridge college. Douglas Gale is Professor of Economics at Boston college. Oliver Hart is Professor of Economics on the Massachusetts Institute of expertise. Eric Maskin is Professor of Economics at Harvard collage.