Rationality in Economics

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Business & Economics
Rationality in Economics

Rationality in Economics

Name: Rationality in Economics
ISBN: 9780521871358

Vernon L. Smith

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The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of F. A. Hayek.

Kategorije:

Business & Economics

Godina:

2007

Izdanje:

Izdavač:

Cambridge University Press

Jezik:

english

Strane:

386

ISBN 10: