Synopsis
This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation.
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Synopsis
This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation.
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A Theory of Adaptive Economic Behavior
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Paperback. Condition: new. Paperback. This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation. This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780521067119
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Paperback. Condition: new. Paperback. This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation. This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Seller Inventory # 9780521067119
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A Theory of Adaptive Economic Behavior (Paperback)
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Paperback. Condition: new. Paperback. This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation. This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability. Seller Inventory # 9780521067119