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Most of the writings of Maurice Allais, 1988 Nobel Laureate in Economics have only been published in French. Thus to date, economists, management scientists and operations researchers have been severely restricted in gaining access to his work.
Markets, Risk and Money presents, for the first time in English, Allais' unconventional views on economic competition, the significance of free markets and overlapping generations, risk psychology, central banking, taxation systems, monetary dynamics and reform. The volume provides a consistent vision of our society and offers readers an evaluation of the impact of Allais' work on our present body of knowledge.
Markets, Risk and Money contains contributions from a number of distinguished European and American scholars including Bertrand Munier, Thierry Montbrial, J. Lesourne, Claude Ponsard, Edmond Malinvaud, André Babeau, Marcel Boiteux, Lola L. Lopes, Mark J. Machina, James B. Ramsey, Xavier Freixas, B. Roy and D. Bouyssou, Werner Leinfellner and Jean-Jacques Durand.
A biographical sketch and complete bibliography of the author are also included.
List of contents
1: Fifty Years of Maurice Allais' Economic Writings: Seeds for Renewal in Contemporary Economic Thought.- 2: Maurice Allais, a Belatedly Recognized Genius.- 3: Self-Organizing Markets.- 4: A Theory of Spatial General Equilibrium in a Fuzzy Economy.- 5: Maurice Allais, Unrecognized Pioneer of Overlapping Generations Models.- 6: Some Possible Uses of Household Assets Accounts in National Accounting: The Case of American Households.- 7: Should We Get Rid of Economic Calculus?.- 8: Economics as Psychology: A Cognitive Assay of the French and American Schools of Risk Theory.- 9: On Maurice Allais' and Ole Hagen's Expected Utility Hypotheses and the Allais Paradox: Contemporary Discussions of Decisions under Uncertainty with Allais' Rejoinder. 'Rational' Decision Making versus 'Rational' Decision Modelling?.- 10: Probability of Ruin: A Useful Alternative to the Expected Utility Hypothesis in Firm Decision Making.- 11: Complexity and Strategic Decision under Uncertainty. How Can We Adapt the Theory?.- 12: The Generalized Irreversibility Effect.- 13: Comparison of Two Decision-Aid Models Applied to a Nuclear Power Plant Siting Example.- 14: Risk in Serial Conflicts, Evolution, Intelligence and Chaos.- 15: Money, Credit and Monetary Dynamics in Maurice Allais' Work.- Biographical Data.- Bibliography 1943-1991.
