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Eric Maskin

Institute for Advanced Study

Titles by This Editor

Essays in Honor of János Kornai
Edited by Eric Maskin

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.

János Kornai is one of the world's leading experts on the economics of socialism and transition. An early advocate of reform in Hungary, he has written penetrating analyses of centrally planned economies and their transformation to market-oriented systems. This volume is being published in celebration of Kornai's seventieth birthday.

Abram Bergson, Sharad Bhandari, Bernard Chavance, Mathias Dewatripont, Jacques Drèze, Michael Ellman, Richard Ericson, István R. Gábor, Paul Hare, David M. Kemme, János Köllö, Georges Korsun, Mári Lackó, Marie Lavigne, Edmond Malinvaud, Béla Martos, Eric S. Maskin, Peter Murrell, Yingyi Qian, Richard Quandt, John Roemer, Gérard Roland, Jeffrey Sachs, András Simonovits, Robert Solow, Wim Swaan, Jörgen Weibull, Martin Weitzman, Wing Thye Woo, Chenggang Xu.

Essays in Honor of Frank Hahn

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.

The essays in Part I deal with the microeconomic foundations of macroeconomics - a field in which Hahn has made important contributions, most notably in the theory of monetary economics. Topics include an evaluation of Hahn's contribution to the theory of distribution and such macroeconomic themes as coordination failure, multiple equilibria, and strategic issues.

Part II contains recent contributions to game theory reflecting Hahn's interest in the question of what is rational behavior. The essays in Part III concentrate on general-equilibrium theory with missing markets, a field in which Hahn has made major advances. Although the essays address a different set of issues , they share with Hahn's works such themes as market failure, indeterminacy of equilibrium, and the role of money.

Partha Dasgupta is Professor of Economics at Cambridge University. Douglas Gale is Professor of Economics at Boston University. Oliver Hart is Professor of Economics at the Massachusetts Institute of Technology. Eric Maskin is Professor of Economics at Harvard University.