Evolutionary Microeconomics

By: Jacques Lesourne, Bernard Walliser, Andre Orlean

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Hardcover | 20 April 2006

At a Glance

Hardcover
308 Pages

Dimensions(cm)
23.5 x 15.88 x 2.54

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Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these limitations by considering a dynamic approach, however not biologically oriented. Agents have local information and bounded rationality, they are involved in explicit processes of interactions through time, various institutions sustain the market or substitute to it. It explains then some phenomena hardly explained by classical microeconomics: dispersion of prices, variety of industrial structures, financial bubbles.

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You Can Find This Book In

Non-Fiction Economics Microeconomics Sociology & Anthropology Psychology Cognition & Cognitive Psychology Science Biology, Life Sciences Life Sciences in General Evolution Economic Theory & Philosophy Econometrics

Introduction	p. 1
The standard paradigm	p. 2
Towards an evolutionary paradigm	p. 6
Presentation of the book	p. 7
References	p. 9
The basic concepts
Individual decision	p. 13
Background and problems	p. 14
Canonical principles	p. 22
Some models	p. 31
Theses and conjectures	p. 39
References	p. 41
The elementary market	p. 43
Background and problems	p. 43
Canonical principles	p. 48
Some models	p. 50
Theses and conjectures	p. 64
References	p. 65
Game situations	p. 67
Background and problems	p. 68
Canonical principles	p. 76
Some models	p. 87
Theses and conjectures	p. 108
References	p. 110
The markets
Market with irreversibilities	p. 115
Background and problems	p. 116
Canonical principles	p. 117
Some models	p. 118
Theses and conjectures	p. 128
References	p. 129
Mimetic interactions	p. 131
Background and problems	p. 131
Canonical principles	p. 140
Some models	p. 147
Theses and conjectures	p. 169
References	p. 171
Competition between firms	p. 173
Background and problems	p. 173
Canonical principles	p. 180
Some models	p. 182
Theses and conjectures	p. 196
References	p. 198
The institutions
Organization of the firm	p. 203
Background and problems	p. 203
Canonical principles	p. 205
Some models	p. 207
Theses and conjectures	p. 232
References	p. 233
Emergence of institutions	p. 237
Background and problems	p. 237
Canonical principles	p. 242
Some models	p. 247
Theses and conjectures	p. 256
References	p. 257
State and economic system regulation	p. 259
Background and problems	p. 259
Canonical principles	p. 263
Some models	p. 265
Theses and conjectures	p. 282
References	p. 287
Epilogue	p. 291
Table of Contents provided by Publisher. All Rights Reserved.

Evolutionary Microeconomics

At a Glance

Hardcover

Shipping

How to return your order

Defective items

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