An Economic Theorist's Book of Tales
By (author) George A. Akerlof
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Economic Theorist's Book of Tales by George A. Akerlof
Book DescriptionThese 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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Book DetailsISBN: 9780521269339
(228mm x 152mm x 12mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 26-Oct-1984
Country of Publication: United Kingdom
Books By Author George A. Akerlof
Identity Economics, Paperback (September 2011)
Provides an important way to understand human behavior, revealing how our identities - and not just economic incentives - influence our decisions. This title explains how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save.
Animal Spirits, Paperback (February 2010)» View all books by George A. Akerlof
The global financial crisis has made it clear that powerful psychological forces are imperiling the wealth of nations. This title challenges the economic wisdom that got us into this mess, and puts forward a vision that transforms economics and restores prosperity. It asserts the necessity of an active government role in economic policymaking.
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