Rationality in Economics: Constructivist and Ecological Forms (Paperback) (ISBN-13: 9780521133388)

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.

Author: Vernon L. Smith
ISBN-10: 0521133386
ISBN-13: 9780521133388
Publisher: Cambridge University Press
Language: English
Published: 10/12/2009
Pages: 386
Format: Paperback
Weight: 1.20lbs
Size: 8.90h x 6.00w x 0.50d