Big Players and the Economic Theory of Expectations (Hardcover) (ISBN-13: 9780333678268)

Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory of expectations that assumes people interpret their situations in unpredictable ways. Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary policy interventions create ignorance and uncertainty. The volume uses innovative methods to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.

Author: R. Koppl
ISBN-10: 0333678265
ISBN-13: 9780333678268
Publisher: Palgrave MacMillan
Language: English
Published: 06/19/2002
Pages: 248
Format: Hardcover
Weight: 1.14lbs
Size: 8.32h x 6.08w x 0.83d