This treatment provides an exposition of discrete time dynamic processes evolving over an infinite horizon. Chapter 1 reviews some mathematical results from the theory of deterministic dynamical systems, with particular emphasis on applications to economics. The theory of irreducible Markov processes, especially Markov chains, is surveyed in Chapter 2. Equilibrium and long run stability of a dynamical system in which the law of motion is subject to random perturbations is the central theme of Chapters 3-5. A unified account of relatively recent results, exploiting splitting and contractions, that have found applications in many contexts is presented in detail. Chapter 6 explains how a random dynamical system may emerge from a class of dynamic programming problems. With examples and exercises, readers are guided from basic theory to the frontier of applied mathematical research.
Over the last 40 years, Professor David Gale has played a leading role in developing two themes of fundamental importance to economic theory. As a tribute to his creative research, this volume contains contributions from some leading researchers who explore different directions in these areas.
This book summarizes some issues involved in developing a theory of decentralized resource allocation mechanism in infinite horizon economies. It constitutes a definitive account of cutting-edge research on a topic of continuing importance in price theory. .
This collection of essays brings together some articles on dynamic optimization models that exhibit chaotic behavior. Chapters 3, 4, 5, 6, 7, and 9 appeared in a Symposium on Chaotic Dynamical Systems in Economic Theory (Volume 4, Number 5, 1994). Also, Chapters 10,11, and 12 appeared in the Journal of Economic The ory. We would like to thank the authors, and Academic Press for permission to reprint. We are grateful to Professor C.D. Aliprantis for suggesting the idea of a book structured around the Economic Theory Symposium, and without the support and patience of Dr. Mueller this project could not have been completed. We would like to thank Ms. Amy Gowan who cheerfully per formed the arduous task of typing the manuscript. Thanks are also due to Xiao Qing Yu, Tridip Ray and Malabika Majumdar for their help at various stages in the preparation of the manuscript. For a course on dynamic optimization addressed to students with a good background in economic theory and real analysis, one can assign Chapter 2 as a partial introduction to the basic tech niques. Chapters 3 and 4 can be assigned to provide examples of simple optmization models generating complicated behavior.
Introduction -- Evolution, extinction and sustainability -- Optimal harvesting: finite horizon -- Rolling plans: efficiency and long-run optimality -- Infinite horizon models: discounting and sustainability -- Profit maximization and extinction -- Utilization of an exhaustible resource: a partial equilibrium approach -- Production with an exhaustible resource: efficiency and intergenerational equity -- A Cobb-Douglas economy -- Technological transition: an optimistic approach -- Evolution and extinction under uncertainty -- Sustainable consumption and uncertainty -- Mathematical preliminaries.
Over the last 40 years, Professor David Gale has played a leading role in developing two themes of fundamental importance to economic theory. As a tribute to his creative research, this volume contains contributions from some leading researchers who explore different directions in these areas.
Business law, which is also referred to as mercantile or commercial law, is the group of rules that governs the dealings between individuals or companies involved in commercial matters. These laws can be enacted by: International or national legislation Agreement Convention This branch of law relates to the liabilities, duties, and legal rights of individuals or businesses involved in transactions that relate to merchandising, sales, commerce, and trade. Business law includes private and public laws as part of civil laws. The purpose of this study Material is to present an introduction to the subjects of Business Law for Commerce and Management Students. The book contains the syllabus from basics of the subjects going into the intricacies of the subjects. All the concepts have been explained with relevant examples and diagrams to make it interesting for the readers. An attempt is made here by the experts of TMC to assist the students by way of providing Study Material as per the curriculum with non-commercial considerations. However, it is implicit that these are exam-oriented Study Material and students are advised to attend regular lectures in the Institute and utilize reference books available in the library for Indepth knowledge. We owe to many websites and their free contents; we would like to specially acknowledge contents of website www.wikipedia.com and various authors whose writings formed the basis for this book. We acknowledge our thanks to them. At the end we would like to say that there is always a room for improvement in whatever we do. We would appreciate any suggestions regarding this study material from the readers so that the contents can be made more interesting and meaningful. Readers can email their queries and doubts to our authors on tmcnagpur@gmail.com. We shall be glad to help you immediately. Dr. Hemant Babulkar I Dr. Mukul Burghate Authors
An outstanding literary biography" AMITAV GHOSH "Mukul writes beautifully, and brings to life a man who has often been misunderstood" BENJAMIN MOSER "This book is a remarkable contribution to the world of Indian letters: ANNIE ZAIDI Sachchidanand Hirananda Vatsyayan 'Agyeya' is unarguably one of the most remarkable figures of Indian literature. From his revolutionary youth to acquiring the mantle of a (highly controversial) patron saint of Hindi literature, Agyeya's turbulent life also tells a history of the Hindi literary world and of a new nation-spanning as it does two world wars, Independence and Partition, and the building and fraying of the Nehruvian state. Akshaya Mukul's comprehensive and unflinching biography is a journey into Agyeya's public, private and secret lives. Based on never-seen-before archival material-including a mammoth trove of private papers, documents of the CIA-funded Congress for Cultural Freedom and colonial records of his years in jail-the book delves deep into the life of the nonconformist poet-novelist. Mukul reveals Agyeya's revolutionary life and bomb-making skills, his CIA connection, a secret lover, his intense relationship with a first cousin, the trajectory of his political positions, from following M.N. Roy to exploring issues dear to the Hindu right, and much more. Along the way, we get a rare peek into the factionalism and pettiness of the Hindi literary world of the twentieth century, and the wondrous and grand debates which characterized that milieu. Writer, Rebel, Soldier, Lover features a formidable cast of characters: from writers like Premchand, Phanishwarnath Renu, Raja Rao, Mulk Raj Anand and Josephine Miles to Prime Minister Jawaharlal Nehru, revolutionary Chandra Shekhar Azad and actor Balraj Sahni. And its landscapes stretch from British jails, an intellectually robust Allahabad and modern-day Delhi to monasteries in Europe, the homes of Agyeya's friends in the Himalayas and universities in the US. This book is a magnificent examination of Agyeya's civilizational enterprise. Ambitious and scholarly, Writer, Rebel, Soldier, Lover is also an unputdownable, whirlwind of a read.
The latest edition in the popular Yearbook of Anesthesiology series, Volume 11 is an up-to-date guide to the latest advances in anaesthesiology practice. Comprising 25 chapters covering all three specialties associated with anaesthesiology – regional and general anaesthesia, pain, and intensive care - this book presents the most recent information in the field, in a concise and highly illustrated format. The book covers the complete field from techniques and post-surgical recovery, to pharmacology, non-technical skills and medicolegal issues. This new volume features chapters on new technologies to secure the airway, tubeless anaesthesia for laryngeal surgery, delirium in critical care, anaesthetic implications in robotic pelvic surgery, advances in cardiopulmonary resuscitation, opioid free anaesthesia, and many more topics. A complete chapter is dedicated to anaesthesia during the Covid pandemic. Written in an easy-to-read format, this yearbook is invaluable reading for trainees preparing for examinations and interviews, as well as for practising anaesthesiologists in keeping up to date with the latest advances in the field. The previous volume (9789390595013) published in 2021.
Entrepreneurship is a discipline with a knowledge base theory. It is an outcome of complex socio-economic, psychological, technological, legal and other factors. It is a dynamic and risky process. It involves a fusion of capital, technology and human talent. Entrepreneurship is equally applicable to big and small businesses, to economic and non-economic activities. Entrepreneurship lies more in the ability to minimize the use of resources and put them to maximum advantage. Without any awareness of quality and desire for excellence, consumer acceptance cannot be achieved and sustained. Above all, entrepreneurship today is the product of teamwork and the ability to create, build and work as a team. The entrepreneur is the maestro of the business orchestra, wielding his baton to which the band is played. It is in this context, a study Material on introduction to the subject ‘Entrepreneurship Development’ is presented to the students of Professional Post-Graduate MBA degree. The book contains the syllabus from basics of the subjects going into the intricacies of the subjects. All the concepts have been explained with relevant examples and diagrams to make it interesting for the readers. An attempt is made here by the authors to assist the students by way of providing Study Material as per the curriculum with non-commercial considerations. However, it is implicit that these are exam-oriented Study Material and students are advised to attend regular class room classes in the Institute and utilize reference books available in the library for In-depth knowledge. We owe to many websites and their free contents; we would like to specially acknowledge contents of website www.wikipedia.com and various authors whose writings formed the basis for this book. We acknowledge our thanks to them. At the end we would like to say that there is always a room for improvement in whatever we do. We would appreciate any suggestions regarding this study material from the readers so that the contents can be made more interesting and meaningful. Readers can email their queries and doubts to our authors on tmcnagpur@gmail.com. We shall be glad to help you immediately. Sr. J.D .Wadate I Er. Rahul K. Wadichar I Dr. Mukul Burghate Authors
One of the fundamental themes in economic theory is the study of the role of prices in achieving an optimal allocation of resources in a competitive, decentralized economy. The book begins with a review of the basic results on the rigorous elaboration of the Walras-Pareto theory (following the lead of Arrow and Debreu) in the context of a static economy with many agents. It summarizes some subsequent research in which the limits of the price-mechanism as a successful coordination device are recognized. When economic activity is allowed with no pre-assigned terminal period, the two fundamental theorems linking competitive equilibrium allocations to Pareto optimality are challenged and the question of decentralization is carefully re-examined. With incomplete markets, and sequential trading, the concept of a Radner equilibrium is next introduced, and some of the striking properties of this are summarized. In a large economy with random shocks to preferences and/or endowments of individual agents, the implications of the celebrated laws of probability theory are explored. This book provides a clear and comprehensive analysis of the efficiency properties of general equilibrium, with many agents and an expanded list of commodities. It will be of particular interest to postgraduate and doctorate students of economic theory as well as scholars on Walrasian equilibrium, Pareto optimality and uncertainty theories.
This book summarizes some issues involved in developing a theory of decentralized resource allocation mechanism in infinite horizon economies. It constitutes a definitive account of cutting-edge research on a topic of continuing importance in price theory. .
This collection of essays brings together some articles on dynamic optimization models that exhibit chaotic behavior. Chapters 3, 4, 5, 6, 7, and 9 appeared in a Symposium on Chaotic Dynamical Systems in Economic Theory (Volume 4, Number 5, 1994). Also, Chapters 10,11, and 12 appeared in the Journal of Economic The ory. We would like to thank the authors, and Academic Press for permission to reprint. We are grateful to Professor C.D. Aliprantis for suggesting the idea of a book structured around the Economic Theory Symposium, and without the support and patience of Dr. Mueller this project could not have been completed. We would like to thank Ms. Amy Gowan who cheerfully per formed the arduous task of typing the manuscript. Thanks are also due to Xiao Qing Yu, Tridip Ray and Malabika Majumdar for their help at various stages in the preparation of the manuscript. For a course on dynamic optimization addressed to students with a good background in economic theory and real analysis, one can assign Chapter 2 as a partial introduction to the basic tech niques. Chapters 3 and 4 can be assigned to provide examples of simple optmization models generating complicated behavior.
The book, Sustainability and Resources: Theoretical Issues in Dynamic Economics, presents a collection of mathematical models dealing with sustainability and resource management.The focus in Part A is on harvesting renewable resources, while Part B explores the optimal extraction of exhaustible resources. Part C introduces models dealing with uncertainty. Some are descriptive models; others have deep roots in intertemporal welfare economics. The tools of dynamic optimization developed in the 1960s are used in a formal, rigorous presentation to address wide-ranging issues that have appeared in academic research as well as policy debates on the world stage.The book also provides a self-contained treatment that is accessible to advanced undergraduate and graduate students, who are interested in dynamic models of resource allocation and social welfare, resource management, and applications of optimization theory and methods of probability theory to economics. For researchers in dynamic economics, it will be an invaluable source for formal treatment of substantive macroeconomic issues raised by policymakers. The part dealing with uncertainty and random dynamical systems (largely developed by the author and his collaborators) exposes the reader to contemporary frontiers of research on stochastic processes with novel applications to economic problems.
Diary and correspondences, chiefly autobiographical, of a painter, art college principal, and art museum curator from India, about his visit to Japan when he accompanied Rabindranath Tagore, 1861-1941, Bengali poet, to his journey to the country between 1916 and 1917.
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