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Rationality in Economics: Constructivist and Ecological Forms

Rationality in Economics: Constructivist and Ecological Forms

Hardcover

Economics

ISBN10: 0521871352
ISBN13: 9780521871358
Publisher: Cambridge
Published: Nov 5 2007
Pages: 388
Weight: 1.45
Height: 1.21 Width: 6.38 Depth: 9.18
Language: English
The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of F. A. Hayek.

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