Allocation Under Uncertainty: a survey

Roger Guesnerie () and Thierry Montbrial
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Thierry Montbrial: Ecole Polytechnique and Commissariat du Plan

Chapter 4 in Allocation under Uncertainty: Equilibrium and Optimality, 1974, pp 53-70 from Palgrave Macmillan

Abstract: Abstract An extension of the theory of allocation of resources to the case of uncertainty has been realised recently. After the pioneering article of Arrow [2], who with Allais [1] initiated this analysis, the field was explored by Baudier [4], and Debreu [7, 8] whose results have been somewhat generalised by Radner [14]. One can find stimulating discussions about the implications of the theory in Arrow [3], applications in Borch [5] and Hirshleifer [11], or critical comments on various aspects in Drèze [6].

Keywords: Utility Function; General Equilibrium; Elementary Event; Price System; Contingent Claim (search for similar items in EconPapers)
Date: 1974
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DOI: 10.1007/978-1-349-01989-2_4

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