Demand revelation and tatonnement auctions

Article Abstract:

The underrevelation of quantities bid or offered by traders in a tatonnement auction leads to a lower efficiency than double auctions in such a level wherein the marginal unit is rationed from the market. The equilibrium price is in the competitive equilibrium tunnel when traders bid against each other, since underrevelation is symmetric. Traders bidding against a completely revealing automation systematically try to control price by underrevealling quantity bid or offered.

Usage, Marketing, Auctions, Walrasian model

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On the impossibility of rational choice under incomplete information

Article Abstract:

A rational decision was found to be impossible when a natural set of limitations were imposed on the agent's knowledge of the factors affecting his/her decision. This was substantiated by insights offered by the social choice theory. However, it was discovered that relaxing a number of assumptions made decision making possible. The importance of said analysis in economics research was examined and applied to the patent law.

Research, Decision-making, Decision making, Information theory, Social choice, Information theory in economics

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Cooperative agreements and the theory of the firm: focusing on barriers to change

Article Abstract:

The analysis of cooperative agreements has led to the progression of the theory of the firm through centering on the adaptation of firms' resources and capabilities to change. The evolutionary theory of the company and the management studies have then led to analyzing the relationship between the competences of a firm, its strategy and its organizational machinery.

Multinational Corporations, International business enterprises

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