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Big Players and the Economic Theory of Expectations
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Big Players and the Economic Theory of Expectations

Book Details

Format Hardback or Cased Book
ISBN-10 0333678265
ISBN-13 9780333678268
Publisher Palgrave Macmillan
Imprint Palgrave Macmillan
Country of Manufacture GB
Country of Publication GB
Publication Date Jun 19th, 2002
Print length 248 Pages
Weight 523 grams
Ksh 16,200.00
Werezi Extended Catalogue 0 in stock

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Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. The volume uses innovative methods to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.
Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory of expectations that assumes people interpret their situations in unpredictable ways. Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary policy interventions create ignorance and uncertainty. The volume uses innovative methods to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.

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