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Since the early seventies, following the pioneering work by Leo Hurwicz, economists have been studying the relationship between socially optimal goals and private self-interest. The task was to reconcile the Utopian and Hobbesian traditions, using game theory to find ways to organise the society that are both socially optimal and incentive compatible. This book provides a succinct and up-to-date account of this vast literature and will be welcomed by students, lecturers and anyone wishing to update their knowledge of the field.
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| $99.99 | Digital |
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Lawrence Reiman
reviewed The theory of implementation of socially optimal decisions in economics on July 31, 2008
The theory of implementation of socially optimal decisions in economics
This book presents an interesting wealth-redistribution model. In the context of a graduate seminar, it was the perfect starting point for a social justice discussion. To say that I enjoyed the book is not to say I agreed with it completely, although I found more agreement with it than disagreement.
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