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Rationality in Economics: Constructivist and…
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Rationality in Economics: Constructivist and Ecological Forms

by Vernon L. Smith

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Amazon.com Product Description (ISBN 0521871352, Hardcover)

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of F. A. Hayek.

(retrieved from Amazon Thu, 12 Mar 2015 18:10:34 -0400)

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