Amazon cover image
Image from Amazon.com

Evolutionary Microeconomics [electronic resource] / by Jacques Lesourne, André Orléan, Bernard Walliser.

By: Contributor(s): Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2006Description: IX, 296 p. online resourceContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9783540285373
Subject(s): Genre/Form: Additional physical formats: Printed edition:: No titleDDC classification:
  • 338.5 23
LOC classification:
  • HB172
Online resources:
Contents:
La formation des grandeurs économiques:déséquilibre et instabilité -- The basic concepts -- Individual decision -- The elementary market -- Game situations -- The markets -- Market with irreversibilities -- Mimetic interactions -- Competition between firms -- The institutions -- Organization of the firm -- Emergence of institutions -- State and economic system regulation.
In: Springer eBooksSummary: 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.
Item type: eBooks
Star ratings
    Average rating: 0.0 (0 votes)
No physical items for this record

La formation des grandeurs économiques:déséquilibre et instabilité -- The basic concepts -- Individual decision -- The elementary market -- Game situations -- The markets -- Market with irreversibilities -- Mimetic interactions -- Competition between firms -- The institutions -- Organization of the firm -- Emergence of institutions -- State and economic system regulation.

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.

Copyright © 2020 Alfaisal University Library. All Rights Reserved.
Tel: +966 11 2158948 Fax: +966 11 2157910 Email:
librarian@alfaisal.edu