The Economics of Information and Uncertainty

The eight papers and associated commentaries that compose this volume make pioneering contributions to a rapidly developing field of ever-widening interest, the economics of information and uncertainty. While the papers cover a broad range of topics, they share a strong central concern for the role of incentives, risk, and risk sharing in organizational structure. Questions of internal organization and problems of external interaction are covered in contexts involving specific organizational forms. Among the topics covered are asset prices in a production economy, planning and market structure, moral hazard, entrepreneurial behavior under uncertainty, and corporate financial structure and managerial incentives.