Rationality And Equilibrium
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Rationality And Equilibrium
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Author : Charalambos D. Aliprantis
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-04-20
Rationality And Equilibrium written by Charalambos D. Aliprantis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-04-20 with Business & Economics categories.
This book contains a collection of original and state-of-the-art contributions in rational choice and general equilibrium theory. Among the topics are preferences, demand, equilibrium, core allocations, and testable restrictions. The contributing authors are Daniel McFadden, Rosa Matzkin, Emma Moreno-Garcia, Roger Lagunoff, Yakar Kannai, Myrna Wooders, James Moore, Ted Bergstrom, Luca Anderlini, Lin Zhou, Mark Bagnoli, Alexander Kovalenkov, Carlos Herves-Beloso, Michaela Topuzu, Bernard Cornet, Andreu Mas-Colell and Nicholas Yannelis.
Collective Rationality
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Author : Paul Weirich
language : en
Publisher: OUP USA
Release Date : 2010
Collective Rationality written by Paul Weirich and has been published by OUP USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Groups of people perform acts that are subject to standards of rationality. The book's theory of collective rationality explains how to evaluate collective acts. The people engaged in a game of strategy collectively produce an outcome, and the theory reveals what makes some outcomes solutions. It generates new equilibrium standards for solutions to cooperative games.
Rationality And Coordination
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Author : Cristina Bicchieri
language : en
Publisher: CUP Archive
Release Date : 1997-03-28
Rationality And Coordination written by Cristina Bicchieri and has been published by CUP Archive this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-03-28 with Business & Economics categories.
. This major new book will be of particular interest not only to philosophers but to decision theorists, political scientists, economists, and researchers in artificial intelligence.
Equilibrium And Rationality
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Author : Paul Weirich
language : en
Publisher: Cambridge University Press
Release Date : 1998-01-28
Equilibrium And Rationality written by Paul Weirich and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-01-28 with Business & Economics categories.
This major contribution to game theory offers this conception of equilibrium in games: strategic equilibrium.
Rational Behavior And Bargaining Equilibrium In Games And Social Situations
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Author : John C. Harsanyi
language : en
Publisher: CUP Archive
Release Date : 1986
Rational Behavior And Bargaining Equilibrium In Games And Social Situations written by John C. Harsanyi and has been published by CUP Archive this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Decision-making categories.
This is a paperback edition of a major contribution to the field, first published in hard covers in 1977. The book outlines a general theory of rational behaviour consisting of individual decision theory, ethics, and game theory as its main branches. Decision theory deals with a rational pursuit of individual utility; ethics with a rational pursuit of the common interests of society; and game theory with an interaction of two or more rational individuals, each pursuing his own interests in a rational manner.
Rationality In Economics Alternative Perspectives
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Author : Ken Dennis
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Rationality In Economics Alternative Perspectives written by Ken Dennis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Ideas linked to rational choice theory started to appear frequently in the economics literature in the 1960s and 1970s, but the attention given to rationality widened to include commentators presenting far-reaching appraisals and critiques. The literature grew to a steady flow and spanned diverse areas of thought including socialist and `rational-choice Marxist' assessments, and other approaches including institutional, sociological, psychological, ethical, choice-theoretical, strategic, and game-theoretical treatments of rationality. This diversity of literature led to the creation of this volume. What does rationality mean? Was there some common core of meaning that held all of these seemingly disparate developments together, or were there discernable schools of thought with peculiarities that set them clearly apart from one another? The essays in this volume illustrate that diversity, and despite the variety of approaches there remains a common core of meaning that accommodates not so much a radically different set of concepts of rationality as a highly variegated array of methods and approaches to this subject. Contributors address topics of their choice on the concept of rationality in economics, and the selection of these contributors is meant to represent a variety of backgrounds and approaches.
The Limits Of Rationality
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Author : Karen Schweers Cook
language : en
Publisher: University of Chicago Press
Release Date : 2008-10-03
The Limits Of Rationality written by Karen Schweers Cook and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-03 with Political Science categories.
Prevailing economic theory presumes that agents act rationally when they make decisions, striving to maximize the efficient use of their resources. Psychology has repeatedly challenged the rational choice paradigm with persuasive evidence that people do not always make the optimal choice. Yet the paradigm has proven so successful a predictor that its use continues to flourish, fueled by debate across the social sciences over why it works so well. Intended to introduce novices to rational choice theory, this accessible, interdisciplinary book collects writings by leading researchers. The Limits of Rationality illuminates the rational choice paradigm of social and political behavior itself, identifies its limitations, clarifies the nature of current controversies, and offers suggestions for improving current models. In the first section of the book, contributors consider the theoretical foundations of rational choice. Models of rational choice play an important role in providing a standard of human action and the bases for constitutional design, but do they also succeed as explanatory models of behavior? Do empirical failures of these explanatory models constitute a telling condemnation of rational choice theory or do they open new avenues of investigation and theorizing? Emphasizing analyses of norms and institutions, the second and third sections of the book investigate areas in which rational choice theory might be extended in order to provide better models. The contributors evaluate the adequacy of analyses based on neoclassical economics, the potential contributions of game theory and cognitive science, and the consequences for the basic framework when unequal bargaining power and hierarchy are introduced.
Counterfactuals Rationality And Equilibrium Concepts In Game Theory
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Author : Graciela Küchle
language : en
Publisher:
Release Date : 2009
Counterfactuals Rationality And Equilibrium Concepts In Game Theory written by Graciela Küchle and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Bounded Rationality And Industrial Organization
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Author : Ran Spiegler
language : en
Publisher: Oxford University Press
Release Date : 2011-02-18
Bounded Rationality And Industrial Organization written by Ran Spiegler and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-18 with Business & Economics categories.
Conventional economic theory assumes that consumers are fully rational, that they have well-defined preferences and easily understand the market environment. Yet, in fact, consumers may have inconsistent, context-dependent preferences or simply not enough brain-power to evaluate and compare complicated products. Thus the standard model of consumer behavior-which depends on an ideal market in which consumers are boundlessly rational-is called into question. While behavioral economists have for some time confirmed and characterized these inconsistencies, the logical next step is to examine the implications they have in markets. Grounded in key observations in consumer psychology, Bounded Rationality and Industrial Organization develops non-standard models of "boundedly rational" consumer behavior and embeds them into familiar models of markets. It then rigorously analyses each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. Ran Spiegler analyses phenomena such as exploitative price plans in the credit market, complexity of financial products and other obfuscation practices, consumer antagonism to unexpected price increases, and the role of default options in consumer decision making. Spiegler unifies the relevant literature into three main strands: limited ability to anticipate and control future choices, limited ability to understand complex market environments, and sensitivity to reference points. Although the challenge of enriching the psychology of decision makers in economic models has been at the frontier of theoretical research in the last decade, there has been no graduate-level, theory-oriented textbook to cover developments in the last 10-15 years. Thus, Bounded Rationality and Industrial Organization offers a welcome and crucial new understanding of market behavior-it challenges conventional wisdom in ways that are interesting and economically significant, and which in the end effect the well-being of all market participants.
Bounded Rationality In Macroeconomics
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Author : Thomas J. Sargent
language : en
Publisher: Oxford University Press, USA
Release Date : 1993
Bounded Rationality In Macroeconomics written by Thomas J. Sargent and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
How do people behave in new situations in which previous experience is not useful? The recent changes in Eastern Europe, for example, are unprecedented and there is not an available model on which to base the mechanisms that will govern the economics in this region. The concept of "bounded (orlimited) rationality" is being developed to analyze behavior in such situations. In this book Thomas Sargent describes and interprets the recent work in the area, especially in statistics, econometrics, networks and artificial intelligence. He focuses on examples designed to illustrate the issuesinvolved and the kinds of questions that are being asked and answered in this research. He points to further potential positive developments of the theory as well as some of its limitations.