Bounded rationality in macroeconomics : the Arne Ryde memorial lectures
著者
書誌事項
Bounded rationality in macroeconomics : the Arne Ryde memorial lectures
Clarendon Press , Oxford University Press, 1993
- : hard
- : pbk
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注記
Bibliography: p. [171]-180
Includes indexes
内容説明・目次
- 巻冊次
-
: hard ISBN 9780198288640
内容説明
Many developments in economic theory in the 1970s and 1980s depended on the assumption that economic agents made decisions on the basis of "rational expectations" about economic developments, government action and individual behaviour. These rational expectations are based on experience, but how do economic agents behave in new situations in which previous experience is less useful? The concept of bounded or limited rationality is being developed to analyze behaviour in such situations. In this monograph, the author describes and interprets some of the recent work in the area, especially in statistics and econometrics, and in networks and artificial intelligence. He focuses on a number of examples designed to illustrate the issues involved. He describes two laboratory experiments testing versions of the models and concludes by pointing to some promising applications of the methods surveyed, as well as their limitations.
- 巻冊次
-
: pbk ISBN 9780198288695
内容説明
This is a survey of bounded rationality, an area of theoretical macroeconomics which is receiving increased attention. The book is written by a leading macroeconomist who outlines the issues involved, describes some of the analytic tools that are being used, and shows how they can be applied in a range of models. It points to further potential positive developments of the theory as well as some of its limitations.
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