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Moral Hazard in Health Insurance
Moral hazard-the tendency to change behavior when the cost of that behavior will be borne by others-is a particularly tricky question when considering health care. Kenneth J. …
Creating a Learning Society
It has long been recognized that an improved standard of living results from advances in technology, not from the accumulation of capital. It has also become clear that what truly …
The Arrow Impossibility Theorem
Kenneth J. Arrow's pathbreaking "impossibility theorem" was a watershed innovation in the history of welfare economics, voting theory, and collective choice, demonstrating that …
Discounting for Time and Risk in Energy Policy
This is a collection of theoretical papers, including contributions by Partha Dasgupta and three Nobel prize-winning economists: Kenneth Arrow, Amartya Sen, and Joseph Stiglitz. …
Speculation, Trading, and Bubbles
As long as there have been financial markets, there have been bubbles-those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet …
Studies in Linear and Non-Linear Programming: Stanford Mathematical Studies in the Social Sciences, No. 2
""Studies in Linear and Non-Linear Programming"" is a book authored by Kenneth Joseph Arrow and published by Stanford Mathematical Studies in the Social Sciences as the second …