Evolutionary Microeconomics is popular PDF and ePub book, written by Jacques Lesourne in 2006-07-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Evolutionary Microeconomics can be Read Online from any device for your convenience.
Evolutionary Microeconomics Book PDF Summary
Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these limitations by considering a dynamic approach, however not biologically oriented. Agents have local information and bounded rationality, they are involved in explicit processes of interactions through time, various institutions sustain the market or substitute to it. It explains then some phenomena hardly explained by classical microeconomics: dispersion of prices, variety of industrial structures, financial bubbles.
Detail Book of Evolutionary Microeconomics PDF
- Author : Jacques Lesourne
- Release : 01 July 2006
- Publisher : Springer Science & Business Media
- ISBN : 9783540285373
- Genre : Business & Economics
- Total Page : 296 pages
- Language : English
- PDF File Size : 11,8 Mb
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