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Microeconomic Theory

Microeconomic Theory

Hardcover

Series: Recent Economic Thought, Book 6

Economics

ISBN10: 0898381703
ISBN13: 9780898381702
Publisher: Springer
Published: Mar 31 1986
Pages: 278
Weight: 1.31
Height: 0.69 Width: 6.14 Depth: 9.21
Language: English
It is often said that everyone understands precisely what is meant by the notion of probability-except those who have spent their lives studying the matter. Upon close scrutiny, the intuitively obvious idea of probability becomes quite elusive. Is it a subjective or objective concept? Are random variables simply improperly measured deterministic variables, or inherently random? What is meant by the phrase other things held constant that often appears in descriptions of probability? These questions involve fundamental philosophical and scientific issues, and promise to elude definitive answers for some time. The same type of difficulty arises when attempting to produce a volume on microeconomic theory. The obvious first question-what is microeconomic theory?--

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