{"product_id":"financial-structure-and-economic-organization-hardback-9781557860392","title":"Financial Structure and Economic Organization (Hardback) 9781557860392","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eFinancial Structure and Economic Organization\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cfont size=\"4\"\u003eRobert C. Townsend (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781557860392, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 19 April 1990\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e564 pages\u003cbr\u003e25 x 20 x 1.5 cm, 0.68 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eThis volume focuses on how groups of economic agents organize themselves, with a special interest in the financial arrangements they adopt. This is achieved primarily through the development and refinement of neoclassical models incorporating transactions costs and impediments to trade, but also through parallels with the organization of real economies drawn from the history of early Europe.  \u003c\/p\u003e\n\u003cp\u003eThe author demonstrates that the key elements determining financial structure and economic organiation in history are key features in the described environments of modern economic models. These include the facts that economic agents are separated in time and space; economic life is full of uncertainty; there is often private information among agents; there are sometimes difficulties of communication among agents; and there can be problems in getting agents to commit to arrangements, the difficulties of costly and limited enforcement.  \u003c\/p\u003e\n\u003cp\u003eAnalyzing these central issues both in theory and in history, Professor Townsend makes a highly original contribution to the understanding of the diverse forms of economic and financial organization.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eAcknowledgments 1 \u003cp\u003ePART I Introduction\u003c\/p\u003e \u003cp\u003e1 Key Elements and Patterns in History 3\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART II Spatial Separation\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2 Financial Arrangements Models of Money 53\u003c\/p\u003e \u003cp\u003e3 Circulating Private Problem: An Example with Coordination with \u003ci\u003eNeil Wallace\u003c\/i\u003e 101\u003c\/p\u003e \u003cp\u003e4 Financial Structure and Economic Activity 118\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART III Private Information as a Key Element in Theories of Contract - Mechanism Design \u003cbr\u003e\u003cbr\u003e\u003c\/b\u003e5 Optimal Contracts and Competitive Markets with Costly State Verification 145\u003c\/p\u003e \u003cp\u003e6 Allocation Mechanisms for Asymmetrically Informed Agents with \u003ci\u003eMilton Harris\u003c\/i\u003e 175\u003c\/p\u003e \u003cp\u003e7 Resource Allocation under Asymmetric Information with \u003ci\u003eMilton Harris\u003c\/i\u003e 212\u003c\/p\u003e \u003cp\u003e8 Optimal Multiperiod Contracts and the Gain from Enduring Relationships under Private Information 252\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART IV Limited Communication as a Key Element in Economic Organization\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9 Economic Organization with Limited Communication 277\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART V Core Theories of Intermediation \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10 Intermediation with Costly Bilateral Exchange 307\u003c\/p\u003e \u003cp\u003e11 Theories of Intermediated Structures 321\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART VI Limited Asset Markets with Spatial Separation\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12 Asset Return Anomalies in a Monetary Economy 369\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART VII Equilibrium Theories of Volatile Markets With Rational Learning and Optimal Signal Extraction\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13 Market Anticipations, Rational Expectations Bayesian Analysis 403\u003c\/p\u003e \u003cp\u003e14 Forecasting the Forecasts of Other 419\u003c\/p\u003e \u003cp\u003e15 Equilibrium Theory with Learning and Desperate Expectations: Some Issues and Methods 463\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART VIII Equilibrium Theory with Competitive Markets in Complete, Information-constrained Contacts \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e16 Pareto Optima and Competitive Equilibria with Adverse Selection and Morale Hazard with \u003ci\u003eEdward C. Prescott \u003c\/i\u003e495\u003c\/p\u003e \u003cp\u003e17 General Competitive Analysis in an Economy with Private Information with \u003ci\u003eEdward C. Prescott \u003c\/i\u003e524\u003c\/p\u003e \u003cp\u003eIndex 547\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economics [\u003ca title=\"See our other books on Economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economics%20%5BKC%5D%22\"\u003eKC\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Brand New","offer_id":52441820496152,"sku":"9781557860392","price":89.49,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781557860392.jpg?v=1785027364","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/financial-structure-and-economic-organization-hardback-9781557860392","provider":"Freshly Printed Books","version":"1.0","type":"link"}