Bounded Rationality in Macroeconomics : The Arne Ryde Memorial Lectures
by
Sargent
Book Details
Format
Paperback / Softback
ISBN-10
0198288697
ISBN-13
9780198288695
Publisher
Oxford University Press
Imprint
Clarendon Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Oct 21st, 1993
Print length
200 Pages
Weight
292 grams
Dimensions
21.40 x 13.80 x 1.40 cms
Product Classification:
Economic theory & philosophyMacroeconomics
Ksh 10,600.00
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Focusing on a new development in economic theory which involves bounded or limited rationality, the author describes two laboratory experiments that test versions of his macroeconomic models. He analyzes some promising applications of the methods surveyed, as well as their limitations.
This is a survey of bounded rationality, an area of theoretical macroeconomics which is receiving increased attention. The book is written by a leading macroeconomist who outlines the issues involved, describes some of the analytic tools that are being used, and shows how they can be applied in a range of models. It points to further potential positive developments of the theory as well as some of its limitations.
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