Publisher's Synopsis
This volume consists of eleven previously unpublished papers by some of the world's most distinguished economic theorists. The papers were written in honour of Leonaid Hurwicz, and they address and extend his classic work on welfare and consumer preferences. Part one on preferences and optimality deals with the relationship between welfare measurement and consumer preferences. The papers in part two extend the classical theory of rational consumer behaviour to uncertain environments. The subject of part three is production under uncertainty. "Preferences, Uncertainty, and Optimality" is essential reading for scholars and advanced students of consumer behaviour and welfare economics.
