Approximating Prudence : Aristotelian Practical Wisdom and Economic Models of Choice
by
A. Yuengert
Book Details
Format
Hardback or Cased Book
Book Series
Perspectives from Social Economics
ISBN-10
0230120911
ISBN-13
9780230120914
Publisher
Palgrave Macmillan
Imprint
Palgrave Macmillan
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Jul 25th, 2012
Print length
245 Pages
Weight
414 grams
Dimensions
22.20 x 13.80 x 1.90 cms
Product Classification:
Behavioural economicsWelfare economicsWelfare economics
Ksh 16,200.00
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In a unique undertaking, Andrew Yuengert explores and describes the limits to the economic model of the human being, providing an alternative account of human choice, to which economic models can be compared.
The economic model of choice is a powerful tool, applied widely in economic analysis. Approximating Prudence outlines the limits of the economic model by comparing it to a more comprehensive account of reasoned choice: the account of practical wisdom in the Aristotelian tradition. Although certain aspects of Aristotelian practical wisdom can be captured by the quantitative optimization models of economics, other aspects will always elude attempts to model them. The realization that there are limits to what economic models can do puts into perspective the place of economics in the larger conversation about markets, society, and politics.
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