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Beschreibung

This book is a proposal to address the incoherencies of New Keynesian economics by replacing the standard neoclassical rational choice theory used in New Keynesian economics with bounded rationality. Bounded rationality is redefined as people are rational, but are bounded by asymmetric and imperfect knowledge. This decomposition of bounded rationality makes it possible for us to operationalize bounded rationality, which was founded by Herbert Simon in the 1950s, but has not been widely adopted in economics because the concept was considered too difficult to formalize.
Bounded rationality does not just provide better micro-foundations for New Keynesian economics. It also provides better explanations to various anomalies in neoclassical economics, enhancing economics scientific aspirations, as well as opening the possibility of unifying various schools of economic thought.

Mitwirkende

Autor Cung Cao

Produktdetails

DUIN BNOCVRL3N5N

GTIN 9783639020779

Sprache Englisch

Seitenanzahl 192

Produkttyp Taschenbuch

Größe 220 x 150 x 11  mm

Produktgewicht 305 g

Asymmetric and Imperfect Knowledge

A Proposal to Replace Unbounded Rationality with Bounded Rationality

Cung Cao

CHF 60.35

Verkäufer: Dodax

Lieferdatum: Donnerstag, 11. Juni

Zustand: Neu

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