Preface -- Acknowledgments for reprinted articles -- Part I. General Introduction: the design of resource allocation mechanisms L. Hurwicz -- Part II. Economies with a Single Maximand: 1. General survey: decentralization and computation in resource allocation K. J. Arrow and L. Hurwicz -- 2. Static characterization: constraint qualifications in maximization problems K. J. Arrow, L. Hurwicz and H. Uzawa -- Static characterization: quasi-concave programming K. J. Arrow and A. C. Enthoven -- 3. Decentralization within firms: optimization, decentralization, and internal pricing in business firms K. J. Arrow -- 4. Dynamic characterization: gradient methods for constrained maxima K. J. Arrow and L. Hurwicz -- 5. The handling of nonconvexities: reduction of constrained maxima to saddle-point problems K. J. Arrow and L. Hurwicz -- The handling of nonconvexities: a general saddle-point result for constrained optimization K. J. Arrow, F. J. Gould and S. M. Howe -- The handling of nonconvexities: convexity of asymptotic average production possibility sets L. Hurwicz and H. Uzawa -- Part III. Economies with Multiple Objectives: 6. Stability of competitive equilibrium: on the stability of competitive equilibrium I K. J. Arrow and L. Hurwicz -- Stability of competitive equilibrium: on the stability of competitive equilibrium II K. J. Arrow, H. D. Block and L. Hurwicz -- Stability of competitive equilibrium: on the stability of competitive equilibrium II: postscript K. J. Arrow and L. Hurwicz -- Stability of competitive equilibrium: some remarks on the equilibria of economic systems K. J. Arrow and L. Hurwicz -- 7. Competitive stability under weak gross substitutability: the 'Euclidean distance' approach K. J. Arrow and L. Hurwicz -- Competitive stability under weak gross substitutability: nonlinear price adjustment and adaptive expectations K. J. Arrow and L. Hurwicz -- 8. Stability in oligopoly: stability of the gradient process in n-person games K. J. Arrow and L. Hurwicz -- 9. Studies in local stability: a theorem on expectations and the stability of equilibrium A. C. Enthoven and K. J. Arrow -- Studies in local stability: a note on expectations and stability K. J. Arrow and M. Nerlove -- Studies in local stability: a note on dynamic stability K. J. Arrow and M. McManus -- Studies in local stability: stability independent of adjustment speed K. J. Arrow -- 10. Dynamic shortages: dynamic shortages and price rises: the engineer-scientist case K. J. Arrow and W. M. Capron -- Dynamic shortages: price-quantity adjustments in multiple markets with rising demands K. J. Arrow -- 11. Foundations of price dynamics: toward a theory of price adjustment K. J. Arrow -- Part IV. General Characterizations of Allocation Processes: Optimality and information efficiency in resource allocation processes L. Hurwicz -- On the dimensional requirements of informationally decentralized Pareto-satisfactory processes L. Hurwicz -- On informationally decentralized systems L. Hurwicz -- Appendix: an optimality criterion for decision-making under ignorance K. J. Arrow and L. Hurwicz -- Author index -- Subject index -- Index of examples.