Evolution, Reputation and Rationality

Language: English

Published by LAP LAMBERT Academic Publishing Mai 2010, 2010

383830523X / 9783838305233

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This item is printed on demand - Print on Demand Titel. Neuware -The book consists of three parts. The first part analyzes the stock market dynamic under the presence of agents with heterogeneous beliefs and connects it to commonly observed asset overvaluation. Its two main results are that the long-run equilibrium price is the risk-neutral fundamental price even though all agents are risk-averse and that heterogeneity of beliefs persists. The second chapter describes the interactions between a borrower and creditors, where the borrower has private information, and the loan sizes are determined endogenously by the competitive credit market. It is shown that without behaviorally honest types all equilibria but one are inefficient and result in the country's eventual default. The result helps to explain why developing countries often fail to establish a good reputation in order to attract potential investors. The third chapter experimentally analyzes the importance of utility and action interdependence in subjects' reasoning. The results show that such recent theories as fairness, altruism, reciprocation, etc. have a rather modest effect and explain less than half of subjects' deviation from payoff-maximizing behavior.VDM Verlag, Dudweiler Landstraße 99, 66123 Saarbrücken 116 pp. Englisch.

Seller Inventory # 9783838305233

Title
Evolution, Reputation and Rationality
Author
Dmitry Shapiro
Publisher
LAP LAMBERT Academic Publishing Mai 2010
Publication year
2010
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
383830523X
ISBN 13
9783838305233
Item weight
191 grams
Dimensions
220x150x8 mm

buchversandmimpf2000

Emtmannsberg, BAYE, Germany

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Impressum Thorsten Retsch Buchversand Mimpf2000 Oberölschnitz 16 95517 Emtmannsberg Deutschland Telefon: 09209-2023188 Email: mimpf2000@online.de USt-ID-Nr.: DE 235096871 Wir führen gebrauchte Bücher aus allen Sparten der Literatur

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