Book Details


Evolutionary Microeconomics

Publish Date: 2006

ISBN: 978-3-540-28537-3

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Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these limitations by considering a dynamic approach, however not biologically oriented.

Subject: Business and Economics, Action, Bounded Rationality, Evolution, Evolutionary Economics, Evolutionary Microeconomics, Institution, Interaction, Learning, Microeconomics, Passing, agents