The three major themes of János Kornai's work reflected in the title of this book—planning, shortage, and transition, or transformation—figure prominently in the essays. After a philosophical introduction by Edmond Malinvaud, the book is divided into three sections: Markets and Organizations, Theory of Transition, and The Transitional Experience.
These original essays focus on a wide range of topics related to Frank Hahn's distinguished work in economics. Ranging from market analysis and game theory to the microeconomic foundations of macroeconomics and from equilibrium and optimality with missing markets to economics and society, they reflect the diversity of modem research in economic theory. What distinguishes Hahn's work and many of the essays in this book is that the motivation often comes from practical concerns about unemployment, savings and investment, poverty, or the stability of markets.