Author: Edward J. Nell
Publisher: Edward Elgar Publishing
ISBN: 1849809623
Category : Business & Economics
Languages : en
Pages : 576
Book Description
•If you are interested in understanding the underlying philosophical reasons why structural econometrics seems dead, read this book. Not only do the authors provide a comprehensive, stimulating, and provocative account of the debate and literature, the
Rational Econometric Man
Author: Edward J. Nell
Publisher: Edward Elgar Publishing
ISBN: 1849809623
Category : Business & Economics
Languages : en
Pages : 576
Book Description
•If you are interested in understanding the underlying philosophical reasons why structural econometrics seems dead, read this book. Not only do the authors provide a comprehensive, stimulating, and provocative account of the debate and literature, the
Publisher: Edward Elgar Publishing
ISBN: 1849809623
Category : Business & Economics
Languages : en
Pages : 576
Book Description
•If you are interested in understanding the underlying philosophical reasons why structural econometrics seems dead, read this book. Not only do the authors provide a comprehensive, stimulating, and provocative account of the debate and literature, the
Rational Economic Man
Author: Hollis
Publisher: Cambridge University Press
ISBN: 0521033888
Category : Philosophy
Languages : en
Pages : 0
Book Description
Discusses the alliance between economics and philosophy.
Publisher: Cambridge University Press
ISBN: 0521033888
Category : Philosophy
Languages : en
Pages : 0
Book Description
Discusses the alliance between economics and philosophy.
Rational Economic Man
Rational Economic Man
The Economic Man and Rationality in Adam Smith
Author: Vanesa V. D'Elia
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The assumption of rationality is central in current economic theory. This hypothesis is the pillar for the creation of the homo economicus of conventional theory. Starting with Adam Smith's approach to rationality, the aim of this paper is to contribute to the discussion of the main characteristics of the individual underlying the rational man of economics and their implications for economic analysis. The meaning of rationality in several authors is reexamined and it is argued that the basis of Adam Smith's work are still valid.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The assumption of rationality is central in current economic theory. This hypothesis is the pillar for the creation of the homo economicus of conventional theory. Starting with Adam Smith's approach to rationality, the aim of this paper is to contribute to the discussion of the main characteristics of the individual underlying the rational man of economics and their implications for economic analysis. The meaning of rationality in several authors is reexamined and it is argued that the basis of Adam Smith's work are still valid.
Predictably Rational?
Author: Richard B. McKenzie
Publisher: Springer Science & Business Media
ISBN: 3642015867
Category : Business & Economics
Languages : en
Pages : 319
Book Description
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.
Publisher: Springer Science & Business Media
ISBN: 3642015867
Category : Business & Economics
Languages : en
Pages : 319
Book Description
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.
Rational Expectations and Econometric Practice
Author: Robert E. Lucas
Publisher: U of Minnesota Press
ISBN: 1452908281
Category :
Languages : en
Pages : 335
Book Description
Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
Publisher: U of Minnesota Press
ISBN: 1452908281
Category :
Languages : en
Pages : 335
Book Description
Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
Thoughtful Economic Man
Author: J. Gay Tulip Meeks
Publisher: Cambridge University Press
ISBN: 9780521325745
Category : Business & Economics
Languages : en
Pages : 190
Book Description
An authoritative examination of the implications of conventional conceptions of rational economic man for all economic study as well as the role of rationality and morals in economics.
Publisher: Cambridge University Press
ISBN: 9780521325745
Category : Business & Economics
Languages : en
Pages : 190
Book Description
An authoritative examination of the implications of conventional conceptions of rational economic man for all economic study as well as the role of rationality and morals in economics.
Rational Expectations Econometrics
Author: Lars Peter Hansen
Publisher: CRC Press
ISBN: 1000237087
Category : Mathematics
Languages : en
Pages : 305
Book Description
At the core of the rational expectations revolution is the insight that economic policy does not operate independently of economic agents' knowledge of that policy and their expectations of the effects of that policy. This means that there are very complicated feedback relationships existing between policy and the behaviour of economic agents, and these relationships pose very difficult problems in econometrics when one tries to exploit the rational expectations insight in formal economic modelling. This volume consists of work by two rational expectations pioneers dealing with the "nuts and bolts" problems of modelling the complications introduced by rational expectations. Each paper deals with aspects of the problem of making inferences about parameters of a dynamic economic model on the basis of time series observations. Each exploits restrictions on an econometric model imposed by the hypothesis that agents within the model have rational expectations.
Publisher: CRC Press
ISBN: 1000237087
Category : Mathematics
Languages : en
Pages : 305
Book Description
At the core of the rational expectations revolution is the insight that economic policy does not operate independently of economic agents' knowledge of that policy and their expectations of the effects of that policy. This means that there are very complicated feedback relationships existing between policy and the behaviour of economic agents, and these relationships pose very difficult problems in econometrics when one tries to exploit the rational expectations insight in formal economic modelling. This volume consists of work by two rational expectations pioneers dealing with the "nuts and bolts" problems of modelling the complications introduced by rational expectations. Each paper deals with aspects of the problem of making inferences about parameters of a dynamic economic model on the basis of time series observations. Each exploits restrictions on an econometric model imposed by the hypothesis that agents within the model have rational expectations.