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Distinguished Fellow: Honoring Roy Radner

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  • Frank Hahn

Abstract

Roy Radner has been elected a Distinguished Fellow of the American Economic Association. To illustrate the Radner style, I have chosen the example of his turnpike theorem, even though this is not quite illustrative of his central concerns. I shall follow this with a brief survey of his contributions to general equilibrium theory and the theory of rational expectations equilibrium. I shall then turn to his work on teams, and conclude with one of his more game-theoretic studies of organizations and private information.

Suggested Citation

  • Frank Hahn, 1992. "Distinguished Fellow: Honoring Roy Radner," Journal of Economic Perspectives, American Economic Association, vol. 6(1), pages 181-194, Winter.
    • Handle: RePEc:aea:jecper:v:6:y:1992:i:1:p:181-94
    Note: DOI: 10.1257/jep.6.1.181
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.6.1.181
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    References listed on IDEAS

    as
    1. Grossman, Sanford J & Hart, Oliver D, 1979. "A Theory of Competitive Equilibrium in Stock Market Economies," Econometrica, Econometric Society, vol. 47(2), pages 293-329, March.
    2. Frank Hahn, 1973. "On Transaction Costs, Inessential Sequence Economies and Money," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 40(4), pages 449-461.
    3. Allen, Beth E, 1981. "Generic Existence of Completely Revealing Equilibria for Economies with Uncertainty when Prices Convey Information," Econometrica, Econometric Society, vol. 49(5), pages 1173-1199, September.
    4. Grossman, Sanford J & Stiglitz, Joseph E, 1980. "On the Impossibility of Informationally Efficient Markets," American Economic Review, American Economic Association, vol. 70(3), pages 393-408, June.
    5. Jordan, J. S., 1977. "Expectations equilibrium and informational efficiency for stochastic environments," Journal of Economic Theory, Elsevier, vol. 16(2), pages 354-372, December.
    6. John Geanakoplos, 1989. "An Introduction to General Equilibrium with Incomplete Asset Markets," Cowles Foundation Discussion Papers 919, Cowles Foundation for Research in Economics, Yale University.
    7. M. Morishima, 1961. "Prices and the Turnpike: II. Proof of a Turnpike Theorem: The "No Joint Production" Case," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 28(2), pages 89-97.
    8. McKenzie, Lionel W., 1983. "Turnpike theory, discounted utility, and the von Neumann facet," Journal of Economic Theory, Elsevier, vol. 30(2), pages 330-352, August.
    9. Bray, Margaret, 1982. "Learning, estimation, and the stability of rational expectations," Journal of Economic Theory, Elsevier, vol. 26(2), pages 318-339, April.
    10. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
    11. Hart, Oliver D., 1975. "On the optimality of equilibrium when the market structure is incomplete," Journal of Economic Theory, Elsevier, vol. 11(3), pages 418-443, December.
    12. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
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    Cited by:

    1. Mukul Majumdar, 2023. "Roy Radner: A Subtle Theorist," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 21(3), pages 481-522, September.

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    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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