Pareto Optimal Organizations and Allocations with Private   Information, Limited Communication, and Other Impediments toTrade
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Daniel H. Newlon', 'PO_EMAI': None, 'PO_PHON': None}
The project addresses core economic issues associated with developing           tractable economic models of environments with uncertainty and with             private information.  Despite past advances much work is needed to              make these models of economies more like the environments of actual             economies.  The project contributes to resolving this problem in                three ways.  First, it extends theory to include more realistic and             more complicated private information possibilities and various                  additional impediments to trade, e.g., limited communication, spatial           separation, indivisibilities, and limited commitments.  Second, it              investigates numerical methods to map the parameters describing the             environments to outcomes even if strong qualitative theorems are not            readily available.  Numerical methods are used to see how the time              series of currency, prices, interest rates, incomes, and consumption            vary with the parameters of the environment.  Third, historical                 material and panel data from contemporary village economies are used            to test predictions from the theory with actual observations.                                                                                                   The new theory is used to address issues such as optimal information            acquisition; the implications for volatility of optimal learning;               group accounting systems and financial instruments as communication             devices; the information and store-of-value roles for currency; the             role of financial intermediaries and optimal regulation of                      intermediaries; the intertemporal and asset pricing implications of             indivisible and nonretradable durable goods.
{'FirstName': 'Robert', 'LastName': 'Townsend', 'PI_MID_INIT': 'M', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Robert M Townsend', 'EmailAddress': 'rtownsen@midway.uchicago.edu', 'NSF_ID': '000224464', 'StartDate': '07/15/1987', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'National Opinion Research Center', 'CityName': 'CHICAGO', 'ZipCode': '606035713', 'PhoneNumber': '7732566000', 'StreetAddress': '55 E MONROE ST', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Illinois', 'StateCode': 'IL', 'CONGRESSDISTRICT': '07', 'CONGRESS_DISTRICT_ORG': 'IL07', 'ORG_UEI_NUM': 'MPYFY5UMSDP4', 'ORG_LGL_BUS_NAME': 'NATIONAL OPINION RESEARCH CENTER', 'ORG_PRNT_UEI_NUM': 'MPYFY5UMSDP4'}
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8708242.xml'}