Information, Finance and General Equilibrium: Collected Papers on the Experimental Foundations of Economics and Political Science, Volume III (Economists of the Twentieth Century series)
Language: English
Published by Edward Elgar Publishing, 2001
- Hardcover
- New
Seller: Ria Christie Collections, Uxbridge, United KingdomRia Christie Collections
AbeBooks seller since March 25, 2015
Condition: New
US$ 269.41
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In English.
Seller Inventory # ria9781840643961_new
- Title
- Information, Finance and General Equilibrium: Collected Papers on the Experimental Foundations of Economics and Political Science, Volume III (Economists of the Twentieth Century series)
- Author
- Plott, Charles R.
- Publisher
- Edward Elgar Publishing
- Publication year
- 2001
- Condition
- New
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 184064396X
- ISBN 13
- 9781840643961
- Item weight
- 1,000 grams
These works reflect the broad and overlapping nature of economics, public economics, public choice and political science. They examine the fundamental problem encountered in of all these subject areas - understanding the nature of allocation under conditions of limited resources and how decision processes, institutions and procedures shape these allocations.
In particular, this volume contains papers placed at the two extremes of economic phenomena: the largest system and the smallest system - multiple markets and the individual. It contains the first evidence that multiple market systems can equilibrate to the general competitive equilibrium while allocating risk bearing and information. It is here that the experimental foundations for rational expectations models are discovered and developed. A challenging paradox results, which leads Plott to question why the behaviour of a system so complex as a multiple market system can be modelled so well when individuals can exhibit behaviours that are so at odds with the theory.
This fascinating work, from a writer at the forefront of experimental economics, will be warmly welcomed by academics, scholars and researchers involved in experimental economics, the methodology of economics, political theory, and political economy.
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Ria Christie Collections
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AbeBooks seller since March 25, 2015
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