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Reduction Rationality And Game Theory In Marxian Economics
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Book Synopsis Reduction, Rationality and Game Theory in Marxian Economics by : Bruce Philp
Download or read book Reduction, Rationality and Game Theory in Marxian Economics written by Bruce Philp and published by Routledge. This book was released on 2004-10-28 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the main areas of interest in Marxian economics, paying particular attention to class conflict, analytical Marxism and game theory. Very few books can claim to cover the areas that this book does with such clarity, academic rigour and originality. Its study of game theory and Marxism makes it a particularly unique book that will
Book Synopsis Reduction, Rationality and Game Theory in Marxian Economics by : Bruce Philp
Download or read book Reduction, Rationality and Game Theory in Marxian Economics written by Bruce Philp and published by Routledge. This book was released on 2004-10-28 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main areas of interest in Marxian economics are examined, paying particular attention to class conflict, analytical Marxism and game theory and will be of interest to a wide variety of economists and social scientists.
Book Synopsis Modeling Rational Agents by : Nicola Giocoli
Download or read book Modeling Rational Agents written by Nicola Giocoli and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book explores the evolution, through the first half of the 20th century, of the key neoclassical concept of rationality. The analysis begins with the development of modern decision theory, covers the interwar debates over the role of perfect foresight and analyzes the first game-theoretic solution concepts of von Neumann and Nash. The author's proposition is that the notion of rationality suffered a profound transformation that reduced it to a formal property of consistency. Such a transformation paralleled that of neoclassical economics as a whole from a discipline dealing with real economic processes to one investigating issues of logical consistency between mathematical relationships."
Book Synopsis Equilibrium and Rationality by : Paul Weirich
Download or read book Equilibrium and Rationality written by Paul Weirich and published by Cambridge University Press. This book was released on 1998-01-28 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This major contribution to game theory offers this conception of equilibrium in games: strategic equilibrium.
Book Synopsis Game Theory, Experience, Rationality by : W. Leinfellner
Download or read book Game Theory, Experience, Rationality written by W. Leinfellner and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: When von Neumann's and Morgenstern's Theory of Games and Economic Behavior appeared in 1944, one thought that a complete theory of strategic social behavior had appeared out of nowhere. However, game theory has, to this very day, remained a fast-growing assemblage of models which have gradually been united in a new social theory - a theory that is far from being completed even after recent advances in game theory, as evidenced by the work of the three Nobel Prize winners, John F. Nash, John C. Harsanyi, and Reinhard Selten. Two of them, Harsanyi and Selten, have contributed important articles to the present volume. This book leaves no doubt that the game-theoretical models are on the right track to becoming a respectable new theory, just like the great theories of the twentieth century originated from formerly separate models which merged in the course of decades. For social scientists, the age of great discover ies is not over. The recent advances of today's game theory surpass by far the results of traditional game theory. For example, modem game theory has a new empirical and social foundation, namely, societal experiences; this has changed its methods, its "rationality. " Morgenstern (I worked together with him for four years) dreamed of an encompassing theory of social behavior. With the inclusion of the concept of evolution in mathematical form, this dream will become true. Perhaps the new foundation will even lead to a new name, "conflict theory" instead of "game theory.
Book Synopsis Economics, Rational Choice and Normative Philosophy by : Thomas Boylan
Download or read book Economics, Rational Choice and Normative Philosophy written by Thomas Boylan and published by Routledge. This book was released on 2008-10-27 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following Amartya Sen’s insistence to expand the framework of rational choice theory by taking into account ‘non-utility information,’ economists, political scientists and philosophers have recently concentrated their efforts in analysing the issues related to rights, freedom, diversity intentions and equality. Thomas Boylan and Ruvin Gekker have gathered essays that reflect this trend. The particular themes addressed in this volume include: the measurement of diversity and freedom, formal analysis of individual rights and intentions, judgment aggregation under constraints and strategic manipulation in fuzzy environments. Some papers in the volume also deal with philosophical aspects of normative social choice.
Book Synopsis The Economic Ideas of Marx's Capital by : Ludo Cuyvers
Download or read book The Economic Ideas of Marx's Capital written by Ludo Cuyvers and published by Taylor & Francis. This book was released on 2016-09-13 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly two hundred years have passed since the birth of Karl Marx and continuing to this day the influence of his economic views, insights and theories can still be felt. However, since the publication of Das Kapital, the scientific community has not been sitting idle – it is time to evaluate Marx as an economist and explore what he can bring to modern economic thinking, particularly post-Keynesian economics. Starting with Marx’s schemes of reproduction, which, it is shown, are the basis of the linear model of production as used since the 1960s by Piero Sraffa, Michio Morishima and others, the book reviews and assesses Marx’s major economic theses. These include: the labour theory of value; accumulation and technical change and its impact on labour; the concept of unproductive labour; the tendential falling rate of profits; the evolution and determinants of the share of wages in national income; as well as short-run and long-run economic dynamics. The Economic Ideas of Marx's Capital updates the theses of the labour theory of value and the conditions for balanced growth using the recent scholarly literature, and also further develops issues related to Marx’s concept of productive labour. Moreover, the book analyses the intellectual relationship of Marx’s economic theory with post-Keynesian neo-Marxism, particularly in the writings of Michal Kalecki, Joan Robinson and others. By doing so, the book shows the need and possibilities of integrating major insights of Marxist and post-Keynesian theory. This volume will be of interest to those who wish to explore Marx’s economic theories through a non-ideological approach, as well as students of Marxist economics, post-Keynesian economics and the history of economic thought.
Book Synopsis Rationality and Irrationality in Economics by : Maurice Godelier
Download or read book Rationality and Irrationality in Economics written by Maurice Godelier and published by Verso Books. This book was released on 2013-01-16 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the result of a research project begun by the author in 1958 with the aim of answering two questions: First, what is the rationality of the economic systems that appear and disappear throughout history—in other words, what is their hidden logic and the underlying necessity for them to exist, or to have existed? Second, what are the conditions for a rational understanding of these systems—in other words, for a fully developed comparative economic science? The field of investigation opened up by these two questions is vast, touching on the foundations of social reality and on how to understand them. The author, being a Marxist, sought the answers, as he writes, ‘not in philosophy or by philosophical means, but in and through examining the knowledge accumulated by the sciences.’ The stages of his journey from philosophy to economics and then to anthropology are indicated by the divisions of his book. Godelier rejects, at the outset, any attempt to tackle the question of rationality or irrationality of economic science and of economic realities from the angle of an a priori idea, a speculative definition of what is rational. Such an approach can yield only, he feels, an ideological result. Rather, he treats the appearance and disappearance of social and economic systems in history as being governed by a necessity ‘wholly internal to the concrete structures of social life.
Download or read book Hayek Versus Marx written by Eric Aarons and published by Routledge. This book was released on 2009-03-13 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author provides a thorough examination of the theories of Marx and Hayek in the belief that the work of these two thinkers, in their commonalities and differences, successes and failures, contain important indicators of the content of a social philosophy suited to today?s conditions.
Book Synopsis Marx for the 21st Century by : Hiroshi Uchida
Download or read book Marx for the 21st Century written by Hiroshi Uchida and published by Routledge. This book was released on 2004-08-02 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book testifies that the economic thinking of Karl Marx is still valid for the 21st century, introducing readers to unknown materials buried in archives which portray Marx's attitudes to democracy.
Book Synopsis Marx and Living Labour by : Laurent Baronian
Download or read book Marx and Living Labour written by Laurent Baronian and published by Routledge. This book was released on 2013-05-29 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: From his early economic works on, Marx conceived the labour of any kind of society as a set of production activities and analysed the historical modes of production as specific ways of distributing and exchanging these activities. Political economy on the contrary considers the labour only under the form of its product, and the exchange of products as commodities as the unique form of social labour exchange. For Marx, insofar as the labour creating value represents a specific mode of exchanging the society's living labour, general and abstract labour cannot not only be defined as the substance or measure unit of the commodity, as in Smith or Ricardo, but foremost as an expense of living labour, i.e. of nerves, muscles, brain, etc. Hence the twofold nature of living labour, as a concrete activity producing a use value and an expense of human labour in general producing exchange value. Marx himself claimed that this twofold nature of labour creating value was its main and most important contribution to economic science. This book aims at showing how both determines the original categories and economic laws in Capital and constitutes the profound innerspring of Marx's critique of political economy. The role and function of living labour is highlighted by dealing with the difference between Marx and Classics' theories of labour value; money and the problems of its integration in economic analysis, especially in Keynes; the transition from feudalism to capitalism; the theory of capital through a discussion on the Cambridge controversy and the transformation problem; the labour process and the principles of labour management; unemployment and overpopulation; the formulas of capital in the history of economic thought; finally, an interpretation of the current crisis based on Marx's conception of overaccumulation and speculation after having distinguished it from underconsumption and stagnation theories of crises.
Book Synopsis The Core Theory in Economics by : Lester Telser
Download or read book The Core Theory in Economics written by Lester Telser and published by Routledge. This book was released on 2012-11-12 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: An important tenet of game theory, core theory has nonetheless been all but ignored by the mainstream. Its basic premise is that individuals band together in order to promote their interests as much as possible. The return to an individual depends on competition among various coalitions for its membership, and a group of people can obtain a joint maximum by suitable coordinated actions. In this key title, Lester Telser investigates the following issues: Markets Multiproduct Industry Total Cost Functions with Avoidable Costs Critical Analyses of Noncooperative Equilibria. Through these distinct sections, Telser skilfully brings the ideas of core theory to bear on a range of issues within economics – with particular emphasis on supply and demand and the way markets function.
Book Synopsis Marxian Reproduction Schema by : Andrew Trigg
Download or read book Marxian Reproduction Schema written by Andrew Trigg and published by Routledge. This book was released on 2006-04-18 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Andrew Trigg relates Marx's reproduction schema to Keynes's multiplier, Leontieff's input-output analysis, Domar's growth model and Kalecki's principle - in the process offering intriguing and innovative clarifications.
Book Synopsis Economic Theory and Social Change by : Hasse Ekstedt
Download or read book Economic Theory and Social Change written by Hasse Ekstedt and published by Routledge. This book was released on 2010-06-30 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a discourse on modelling Man in a social context. Its focus is on economic main-stream theory in its capacity to handle basic problems such as uncertainty, social dynamics and ethics. The point of departure is a systematic critique of the specific methodology of economics and its axiomatic structure. The ultimate aim is to develop an economic theory for a socially sustainable society. Economic Theory and Social Change analyses the foundation of economic market theory in relation to its social implications. On rejecting the axiomatic structure of the market theory Hasse Ekstedt and Angelo Fusari analyse the concept of growth and uncertainty with respect to a more realistic modelling of man, The book also addresses central political problems and their potential solutions, including permanent unemployment, distribution of income, the interaction of real and financial growth, money and the credit system. In seeking objective values to help to obtain a socially sustainable society, the book traces a tentative revision of economic and social thought based on a deepening of some crucial features of modern economies and societies. These features include innovation, the connected flows of uncertainty, entrepreneurship, and their role in fuelling and characterizing economic growth and development. This book will be of interest to postgraduate students and researchers of Economics, particularly to those focussing on Economic Theory and Political Economy.
Book Synopsis Karl Marx’s Grundrisse by : Marcello Musto
Download or read book Karl Marx’s Grundrisse written by Marcello Musto and published by Routledge. This book was released on 2008-07-25 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written between 1857 and 1858, the Grundrisse is the first draft of Marx’s critique of political economy and, thus, also the initial preparatory work on Capital. Despite its editorial vicissitudes and late publication, Grundrisse contains numerous reflections on matters that Marx did not develop elsewhere in his oeuvre and is therefore extremely important for an overall interpretation of his thought. In this collection, various international experts in the field, analysing the Grundrisse on the 150th anniversary of its composition, present a Marx in many ways radically different from the one who figures in the dominant currents of twentieth-century Marxism. The book demonstrates the relevance of the Grundrisse to an understanding of Capital and of Marx’s theoretical project as a whole, which, as is well known, remained uncompleted. It also highlights the continuing explanatory power of Marxian categories for contemporary society and its present contradictions. With contributions from such scholars as Eric Hobsbawm and Terrell Carver, and covering subject areas such as political economy, philosophy and Marxism, this book is likely to become required reading for serious scholars of Marx across the world.
Book Synopsis Capital, Exploitation and Economic Crisis by : John Weeks
Download or read book Capital, Exploitation and Economic Crisis written by John Weeks and published by Routledge. This book was released on 2011-03-15 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2008 the capitalist world was swept by the severest crisis since the Great Depression of the 1930s. Mainstream economics neither anticipated nor could account for this disastrous financial crisis, which required massive state intervention throughout the capitalist world. Karl Marx did anticipate this type of financial collapse, arguing that it was derivative from the ‘fetishism of commodities’ inherent in the capitalist mode of production. This book substantiates the foregoing claim by a journey from Marx’s analysis of commodities to the capitalist crisis of the twenty-first century. The book demonstrates that Marx's framework (1) demonstrates that capitalism is but one historical form of class society among many; (2) explains the transition from pre-capitalist to capitalist society; (3) reveals the concrete operation of a capitalist economy; and (4) shows why others would explain the capitalist economy in alternative theoretical frameworks. The central element in his framework from which all else derives is ‘the theory of value’. This book is not an exercise in the history of thought. It is an attempt to analyze the nature of contemporary capitalist society. While Marx’s analysis of capitalism has implications for political action, these need not lead one to embrace revolution in place of reform, though it can and has provided the analytical foundation for both. Marx’s analysis of capitalism is a coherent whole, and meaningful insights cannot be obtained by extracting elements from it. Weeks starts out by looking at the nature of capitalism and an analysis circulation, money and credit unfold from the theory of value. The nature and inherent necessity of competition are demonstrated in chapter eight. A consequence of competition, expressed in the movement of capital, is technical change, the contradictory impact of which is explained in chapter nine. This is brought together with the other elements of value theory (money, credit and competition) in chapter ten, where economic crises are treated in detail. The final chapter applies the theory of crisis to the extreme financial disturbances of the 2000s. This book should be of interest to students and researchers of economics, politics and sociology.
Book Synopsis Economic Representations by : David F Ruccio
Download or read book Economic Representations written by David F Ruccio and published by Routledge. This book was released on 2008-05-16 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is there such a proliferation of economic discourses in literary theory, cultural studies, anti-sweatshop debates, popular music, and other areas outside the official discipline of economics? How is the economy represented in different ways by economists and non-economists? In this volume, scholars from a wide variety of disciplines and countries, from inside and outside the academy, explore the implications of the fact that the economy is being represented in so many different ways. They analyze what it means for scholars and activists in trying to make sense of existing representations-theories, pictures, and stories--of the economy. They also show how new representations can be produced and utilized to change how we look at and participate in current economic debates. By encouraging the mutual recognition of existing approaches and exploring the various ways economic representations function in diverse venues within and beyond mainstream economics, Ruccio has produced a book that is relevant to subjects as diverse as economic sociology and anthropology, political economy, globalization and cultural studies.
