Rationality, Bounded Rationality and Microfoundations

Name: Rationality, Bounded Rationality and Microfoundations
Brand: PALGRAVE MACMILLAN
SKU: 9780230004801
Price: 472.81 PLN
Availability: InStock

Foundations of Theoretical Economics

Autor: Reza Salehnejad

Język:

Oprawa: Twarda

Wydawca: PALGRAVE MACMILLAN

Dostępność: Dostępna u dostawcy w małych ilościach

Wysyłamy za 11-15 dni

472.81 zł

New classical economics makes three assumptions to explain economic phenomena. Firstly, people solve...

Informacje o książce

Autor

Reza Salehnejad

Język

Angielski

Oprawa

Książka - Twarda

Data wydania

2006

strony

309

EAN

9780230004801

ISBN

0230004806

Enbook ID

04551040

Wydawca

PALGRAVE MACMILLAN

Waga

508

Wymiary

158 x 222 x 22

Pełny opis

New classical economics makes three assumptions to explain economic phenomena. Firstly, people solve their decision problems by following the prescriptions of the expected utility theory. Secondly, people behave like econometricians in learning the structure of the environment and predicting economic events. And thirdly, the general forms of the laws of economics are the same in case of the individual and the economy. This book challenges these hypotheses, explaining why the expected utility theory, even if it were true, fails to be of much help in solving economic controversies. It goes on to demonstrate why there can be no theory of statistical learning and why therefore the proposal that homo economicus behaves like a statistician falls a long way short of helping us understand the dynamics of the economy. Finally the book brings to the fore the complexities that behavioural heterogeneity and interaction create for the connection between the micro and macro levels in the economy. These complexities lend strong support to atheoretical macroeconomics.

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Rationality, Bounded Rationality and Microfoundations

Foundations of Theoretical Economics

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