Michael Richter, Ariel Rubinstein

No Prices No Games!

Four Economic Models

• Broschiertes Buch

Produktbeschreibung

While current economic theory focuses on prices and games, this book models economic settings where harmony is established through one of the following societal conventions:¿ A power relation according to which stronger agents are able to force weaker ones to do things against their will.¿ A norm that categorizes actions as permissible or forbidden.¿ A status relation over alternatives which limits each agent's choices.¿ Systematic biases in agents' preferences.These four conventions are analysed using simple and mathematically straightforward models, without any pretensions regarding direct applied usefulness. While we do not advocate for the adoption of any of these conventions specifically - we do advocate that when modelling an economic situation, alternative equilibrium notions should be considered, rather than automatically reaching for the familiar approaches of prices or games.

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Produktdetails

• Verlag: Open Book Publishers
• Seitenzahl: 156
• Erscheinungstermin: 13. November 2024
• Englisch
• Abmessung: 254mm x 178mm x 11mm
• Gewicht: 449g
• ISBN-13: 9781805114581
• ISBN-10: 1805114581
• Artikelnr.: 72157485

Autorenporträt

Michael Richter is a professor of Economics at Baruch College, City University of New York and Royal Holloway, University of London. He is a graduate of the University of Chicago (BS, Math) and New York University (PhD, Economics). His research interests are in microeconomic theory, particularly decision theory, general equilibrium, and search. He lives in New York, with his wife and two kids. For other works, the author's website is: http://www.mrichter.co