ENGLISH

An Economic Theorist's Book of Tales

By George A. Akerlof

Book information

Year
1984
ISBN
9780511609381, 0521269334, 0521263239, 0511609388, 9780521263238, 9780521269339
LCC
HB71 .A34 1984
Open Library ID
OL2841345M
Language
english
Format
PDF
Filesize
4 MB (4372338 bytes)
Pages
208\204
Topic
Economy
Time added
2011-06-04 13:46:07

Description

These essays explore what happens when a skilful economist makes unconventional assumptions. Economic theory has traditionally relied upon a tacit and 'classical' set of assumptions that have gradually acquired a life of their own in defining how economists write and how they justify economic models. Similarly, these assumptions have acquired an autonomous character: they guide the way economists think about the world. In consequence, consideration of alternative assumptions has become taboo. These essays are substantively and stylistically novel because they break these taboos and bring new assumptions into economic theory. The papers apply this adventurous approach to a wide range of issues - from insurance markets and trade in underdeveloped countries to unemployment and discrimination. Some of the essays derive the implications for economic markets of costly asymmetric information. Others explore the findings of other social sciences such as anthropology, psychology and sociology.

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