Microeconomics

Behavior, Institutions, and Evolution (The Roundtable Series in Behavioral Economics)

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In this novel introduction to modern microeconomic theory, Samuel Bowles returns to the classical economists' interest in the wealth and poverty of nations and people, the workings of the institutions of capitalist economies, and the coevolution of i ...Continua
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[d157opia]
Ha scritto il Aug 29, 2016, 20:07
If many aspects of economic interactions are not governed solely by contracts, how are they governed? The answer is that noncontractual aspects of interactions are governed by a combination of norms and power.
[d157opia]
Ha scritto il Aug 29, 2016, 20:07
Economists have commonly regarded behaviors that violate the stringent canons of formal rationality as idiosyncratic, unstable, or irrational, in short, not exhibiting the regularities that would allow scientific analysis. But the fact that experimen...Continua
Pag. 11
[d157opia]
Ha scritto il Aug 29, 2016, 20:06
Second, relaxation of the Walrasian assumptions confronts us with an embarrassment of riches. In the absence of some empirical restrictions or theoretical refinements, the price of generality will be vacuousness. This was the conclusion of Hugo Sonne...Continua
Pag. 16
[d157opia]
Ha scritto il Aug 29, 2016, 20:03
If the exciting novelties of the Walrasian era were highly abstract theorems of surprising generality, the excitement in the coming years may come from compelling answers to such questions as are raised by the empirical puzzles concerning the wealth...Continua
Pag. 17
[d157opia]
Ha scritto il Aug 29, 2016, 19:59
I will make extensive use of the notion of Pareto efficiency, so a comment on its shortcomings is in order. As a basis for choice among allocations, the Pareto standard is at once too weak and too strong. It is too strong because in any practical app...Continua
Pag. 24

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