The Evolving Rationality of Rational Expectations

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Publisher : Cambridge University Press
ISBN 13 : 9780521571647
Total Pages : 256 pages
Book Rating : 4.5/5 (716 download)

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Book Synopsis The Evolving Rationality of Rational Expectations by : Esther-Mirjam Sent

Download or read book The Evolving Rationality of Rational Expectations written by Esther-Mirjam Sent and published by Cambridge University Press. This book was released on 1998-08-13 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inspired by recent developments in science studies, Professor Sent offers an innovative type of analysis of the recent history of rational expectations economics. In the course of exploring the multiple dimensions of rational expectations analysis, she focuses on the work of Thomas Sargent, an instrumental pioneer in the development of this school of thought. The treatment aims to illuminate some of the shifting negotiations and alliances that characterize the rise and shift of direction in rational expectations economics.

Routledge Handbook of Bounded Rationality

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Publisher : Routledge
ISBN 13 : 1317330803
Total Pages : 681 pages
Book Rating : 4.3/5 (173 download)

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Book Synopsis Routledge Handbook of Bounded Rationality by : Riccardo Viale

Download or read book Routledge Handbook of Bounded Rationality written by Riccardo Viale and published by Routledge. This book was released on 2020-12-02 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: Herbert Simon’s renowned theory of bounded rationality is principally interested in cognitive constraints and environmental factors and influences which prevent people from thinking or behaving according to formal rationality. Simon’s theory has been expanded in numerous directions and taken up by various disciplines with an interest in how humans think and behave. This includes philosophy, psychology, neurocognitive sciences, economics, political science, sociology, management, and organization studies. The Routledge Handbook of Bounded Rationality draws together an international team of leading experts to survey the recent literature and the latest developments in these related fields. The chapters feature entries on key behavioural phenomena, including reasoning, judgement, decision making, uncertainty, risk, heuristics and biases, and fast and frugal heuristics. The text also examines current ideas such as fast and slow thinking, nudge, ecological rationality, evolutionary psychology, embodied cognition, and neurophilosophy. Overall, the volume serves to provide the most complete state-of-the-art collection on bounded rationality available. This book is essential reading for students and scholars of economics, psychology, neurocognitive sciences, political sciences, and philosophy.

Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems

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Publisher : Cambridge University Press
ISBN 13 : 110701929X
Total Pages : 273 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems by : Cars Hommes

Download or read book Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems written by Cars Hommes and published by Cambridge University Press. This book was released on 2013-01-24 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recognising that the economy is a complex system with boundedly rational interacting agents, applies complexity modelling to economics and finance.

Imperfect Knowledge Economics

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Publisher : Princeton University Press
ISBN 13 : 0691261156
Total Pages : 368 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Imperfect Knowledge Economics by : Roman Frydman

Download or read book Imperfect Knowledge Economics written by Roman Frydman and published by Princeton University Press. This book was released on 2023-09-26 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Posing a major challenge to economic orthodoxy, Imperfect Knowledge Economics asserts that exact models of purposeful human behavior are beyond the reach of economic analysis. Roman Frydman and Michael Goldberg argue that the longstanding empirical failures of conventional economic models stem from their futile efforts to make exact predictions about the consequences of rational, self-interested behavior. Such predictions, based on mechanistic models of human behavior, disregard the importance of individual creativity and unforeseeable sociopolitical change. Scientific though these explanations may appear, they usually fail to predict how markets behave. And, the authors contend, recent behavioral models of the market are no less mechanistic than their conventional counterparts: they aim to generate exact predictions of "irrational" human behavior. Frydman and Goldberg offer a long-overdue response to the shortcomings of conventional economic models. Drawing attention to the inherent limits of economists' knowledge, they introduce a new approach to economic analysis: Imperfect Knowledge Economics (IKE). IKE rejects exact quantitative predictions of individual decisions and market outcomes in favor of mathematical models that generate only qualitative predictions of economic change. Using the foreign exchange market as a testing ground for IKE, this book sheds new light on exchange-rate and risk-premium movements, which have confounded conventional models for decades. Offering a fresh way to think about markets and representing a potential turning point in economics, Imperfect Knowledge Economics will be essential reading for economists, policymakers, and professional investors.

A History of Econometrics

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Publisher :
ISBN 13 : 0199679347
Total Pages : 257 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis A History of Econometrics by : Duo Qin

Download or read book A History of Econometrics written by Duo Qin and published by . This book was released on 2013-07-25 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written from the Haavelmo-Cowles Commission econometric perspective, this book provides an account of the advances in the field of econometrics since the 1970s.

Predictably Rational?

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Publisher : Springer Science & Business Media
ISBN 13 : 3642015867
Total Pages : 319 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis Predictably Rational? by : Richard B. McKenzie

Download or read book Predictably Rational? written by Richard B. McKenzie and published by Springer Science & Business Media. This book was released on 2009-10-21 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.

The New Palgrave Dictionary of Economics

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Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)

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Book Synopsis The New Palgrave Dictionary of Economics by :

Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.

The Big Problem of Small Change

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Publisher : Princeton University Press
ISBN 13 : 1400851629
Total Pages : 429 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Big Problem of Small Change by : Thomas J. Sargent

Download or read book The Big Problem of Small Change written by Thomas J. Sargent and published by Princeton University Press. This book was released on 2014-04-24 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved. Two leading economists, Thomas Sargent and François Velde, examine the evolution of Western European economies through the lens of one of the classic problems of monetary history--the recurring scarcity and depreciation of small change. Through penetrating and clearly worded analysis, they tell the story of how monetary technologies, doctrines, and practices evolved from 1300 to 1850; of how the "standard formula" was devised to address an age-old dilemma without causing inflation. One big problem had long plagued commodity money (that is, money literally worth its weight in gold): governments were hard-pressed to provide a steady supply of small change because of its high costs of production. The ensuing shortages hampered trade and, paradoxically, resulted in inflation and depreciation of small change. After centuries of technological progress that limited counterfeiting, in the nineteenth century governments replaced the small change in use until then with fiat money (money not literally equal to the value claimed for it)--ensuring a secure flow of small change. But this was not all. By solving this problem, suggest Sargent and Velde, modern European states laid the intellectual and practical basis for the diverse forms of money that make the world go round today. This keenly argued, richly imaginative, and attractively illustrated study presents a comprehensive history and theory of small change. The authors skillfully convey the intuition that underlies their rigorous analysis. All those intrigued by monetary history will recognize this book for the standard that it is.

How Economics Became a Mathematical Science

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Publisher : Duke University Press
ISBN 13 : 0822383802
Total Pages : 329 pages
Book Rating : 4.8/5 (223 download)

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Book Synopsis How Economics Became a Mathematical Science by : E. Roy Weintraub

Download or read book How Economics Became a Mathematical Science written by E. Roy Weintraub and published by Duke University Press. This book was released on 2002-05-28 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: In How Economics Became a Mathematical Science E. Roy Weintraub traces the history of economics through the prism of the history of mathematics in the twentieth century. As mathematics has evolved, so has the image of mathematics, explains Weintraub, such as ideas about the standards for accepting proof, the meaning of rigor, and the nature of the mathematical enterprise itself. He also shows how economics itself has been shaped by economists’ changing images of mathematics. Whereas others have viewed economics as autonomous, Weintraub presents a different picture, one in which changes in mathematics—both within the body of knowledge that constitutes mathematics and in how it is thought of as a discipline and as a type of knowledge—have been intertwined with the evolution of economic thought. Weintraub begins his account with Cambridge University, the intellectual birthplace of modern economics, and examines specifically Alfred Marshall and the Mathematical Tripos examinations—tests in mathematics that were required of all who wished to study economics at Cambridge. He proceeds to interrogate the idea of a rigorous mathematical economics through the connections between particular mathematical economists and mathematicians in each of the decades of the first half of the twentieth century, and thus describes how the mathematical issues of formalism and axiomatization have shaped economics. Finally, How Economics Became a Mathematical Science reconstructs the career of the economist Sidney Weintraub, whose relationship to mathematics is viewed through his relationships with his mathematician brother, Hal, and his mathematician-economist son, the book’s author.

Never Let a Serious Crisis Go to Waste

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Publisher : Verso Books
ISBN 13 : 1781683026
Total Pages : 497 pages
Book Rating : 4.7/5 (816 download)

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Book Synopsis Never Let a Serious Crisis Go to Waste by : Philip Mirowski

Download or read book Never Let a Serious Crisis Go to Waste written by Philip Mirowski and published by Verso Books. This book was released on 2014-04-15 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators concluded that the economic convictions behind the disaster would now be consigned to history. Yet in the harsh light of a new day, attacks against government intervention and the global drive for austerity are as strong as ever. Never Let a Serious Crisis Go to Waste is the definitive account of the wreckage of what passes for economic thought, and how neoliberal ideas were used to solve the very crisis they had created. Now updated with a new afterword, Philip Mirowski’s sharp and witty work provides a roadmap for those looking to escape today’s misguided economic dogma.

Von Neumann, Morgenstern, and the Creation of Game Theory

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Publisher : Cambridge University Press
ISBN 13 : 052156266X
Total Pages : 421 pages
Book Rating : 4.5/5 (215 download)

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Book Synopsis Von Neumann, Morgenstern, and the Creation of Game Theory by : Robert Leonard

Download or read book Von Neumann, Morgenstern, and the Creation of Game Theory written by Robert Leonard and published by Cambridge University Press. This book was released on 2010-06-28 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: A reconstruction of the creation of game theory in the twentieth century by John von Neumann and Oskar Morgenstern.

The Oxford Handbook of Philosophy of Economics

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Publisher : Oxford Handbooks Online
ISBN 13 : 0195189256
Total Pages : 689 pages
Book Rating : 4.1/5 (951 download)

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Book Synopsis The Oxford Handbook of Philosophy of Economics by : Harold Kincaid

Download or read book The Oxford Handbook of Philosophy of Economics written by Harold Kincaid and published by Oxford Handbooks Online. This book was released on 2009-03-26 with total page 689 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is the first comprehensive, cohesive, and accessible reference source to the philosophy of economics, presenting important new scholarship by top scholars.

William Stanley Jevons and the Making of Modern Economics

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Publisher : Cambridge University Press
ISBN 13 : 9780521827126
Total Pages : 364 pages
Book Rating : 4.8/5 (271 download)

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Book Synopsis William Stanley Jevons and the Making of Modern Economics by : Harro Maas

Download or read book William Stanley Jevons and the Making of Modern Economics written by Harro Maas and published by Cambridge University Press. This book was released on 2005-04-04 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines William Stanley Jevons's role in revolutionizing nineteenth-century economics.

Building Chicago Economics

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Publisher : Cambridge University Press
ISBN 13 : 1139501712
Total Pages : 455 pages
Book Rating : 4.1/5 (395 download)

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Book Synopsis Building Chicago Economics by : Robert Van Horn

Download or read book Building Chicago Economics written by Robert Van Horn and published by Cambridge University Press. This book was released on 2011-10-17 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past forty years, economists associated with the University of Chicago have won more than one-third of the Nobel prizes awarded in their discipline and have been major influences on American public policy. Building Chicago Economics presents the first collective attempt by social science historians to chart the rise and development of the Chicago School during the decades that followed the Second World War. Drawing on new research in published and archival sources, contributors examine the people, institutions and ideas that established the foundations for the success of Chicago economics and thereby positioned it as a powerful and controversial force in American political and intellectual life.

Reflexivity and Development Economics

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Publisher : Springer
ISBN 13 : 0230250599
Total Pages : 232 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Reflexivity and Development Economics by : D. Gay

Download or read book Reflexivity and Development Economics written by D. Gay and published by Springer. This book was released on 2009-10-09 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book outlines a taxonomy of development practice using the notion of reflexivity, and examines it in the case of two countries at opposite ends of the development spectrum: Vanuatu and Singapore. The methodological approach, which gives greater voice to people in developing countries, has practical benefits for economic policy.

The Nobel Factor

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Publisher : Princeton University Press
ISBN 13 : 0691196311
Total Pages : 344 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Nobel Factor by : Avner Offer

Download or read book The Nobel Factor written by Avner Offer and published by Princeton University Press. This book was released on 2019-11-19 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic theory may be speculative, but its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world--the "market turn." This is what Avner Offer and Gabriel Soderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets

The Effortless Economy of Science?

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Publisher : Duke University Press
ISBN 13 : 9780822333227
Total Pages : 478 pages
Book Rating : 4.3/5 (332 download)

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Book Synopsis The Effortless Economy of Science? by : Philip Mirowski

Download or read book The Effortless Economy of Science? written by Philip Mirowski and published by Duke University Press. This book was released on 2004 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: A compilation of essays by the author that reveals the value for science studies of examples arising within the history of economics.