Satya R. Chakravarty

Manipushpak Mitra

Suresh Mutuswami

This book analyzes the following four distinct, although not dissimilar, areas of social choice theory and welfare economics: nonstrategic choice, Harsanyi's aggregation theorems, distributional ethics and strategic choice. While for aggregation of individual ranking of social states, whether the persons behave strategically or non-strategically, the decision making takes place under complete certainty; in the Harsanyi framework uncertainty has a significant role in the decision making process. Another ingenious characteristic of the book is the discussion of ethical approaches to evaluation of inequality arising from unequal distributions of achievements in the different dimensions of human well-being. Given its wide coverage, combined with newly added materials, end-chapter problems and bibliographical notes, the book will be helpful material for students and researchers interested in this frontline area research. Its lucid exposition, along with non-technical and graphical illustration of the concepts, use of numerical examples, makes the book a useful text.

Social Aggregations and Distributional Ethics

Palash Sarkar

"Deals with real life situations where objectives of the participants are partially cooperative and partially conflicting"--

A Course on Cooperative Game Theory

This book honors the memory of Tony Atkinson, who made significant contributions to the rigorous study of income inequality, poverty, and redistribution. These essays presented, covering a span of over 30 years of research and scholarship, have been at the forefront of distributional analysis, and many of them are of prime importance for contemporary developments in the real-valued measurement of poverty and inequality, with particular reference to the concepts of fuzzy poverty assessment, vulnerability, heterogeneity/multidimensionality, unit consistency, sub-group decomposability, and dominance criteria. While all of these articles have been previously published—singly or with co-authorship—in a number of professional journals or distinguished edited volumes, this book is greatly enriched by a substantial introductions by the authors, which place the contributions in context, highlights their inter-connectedness, and relates them to the work of Tony Atkinson and other scholars. This book is of intrinsic value to welfare analysts, as well as being a tribute to a very great scholar by a fellow economist.

Poverty, Social Exclusion and Stochastic Dominance

Bikas K. Chakrabarti

Banasri Basu

Kausik Gangopadhyay

The combined efforts of the Physicists and the Economists in recent years in analyzing and modelling various dynamic phenomena in monetary and social systems have led to encouraging developments, generally classified under the title of Econophysics. These developments share a common ambition with the already established field of Quantitative Economics. This volume intends to offer the reader a glimpse of these two parallel initiatives by collecting review papers written by well-known experts in the respective research frontiers in one cover. This massive book presents a unique combination of research papers contributed almost equally by Physicists and Economists. Additional contributions from Computer Scientists and Mathematicians are also included in this volume. The book consists of two parts: the first part concentrates on Econophysics problems and the second part stresses on various quantitative issues in Economics. Both parts specialize on frontier problems in Games and Social Choices.

Econophysics & Economics of Games, Social Choices and Quantitative Techniques

“An Outline of Financial Economics” presents a systematic treatment of the theory and methodology of finance and economics. The book follows an analytical and geometric methodology, explaining technical terms and mathematical operations in clear, non-technical language, and providing intuitive explanations of the mathematical results. The text begins with a discussion of financial instruments, which form the basis of finance theory, and goes on to analyze bonds – which are regarded as fixed income securities – in a simple framework, and to discuss the valuation of stocks and cash flows in detail. Highly relevant topics such as attitudes toward risk, uncertainty, the financial structure of a firm, stochastic dominance, portfolio management, option pricing and conditions for non-arbitrage are analyzed explicitly. Because of its wide coverage and analytical, articulate and authoritative presentation, “An Outline of Financial Economics” will be an indispensable book for finance researchers and undergraduate and graduate students in fields such as economics, finance, econometrics, statistics and mathematics.

Satya R. Chakravarty

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