You might also like

More about Rationality in Economics

• Book details
• Synopsis
• Trending among others

You get 264 loyalty points

Book synopsis

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: through emergent socio-economic institutions and cultural norms, people achieve ends that are unintended and poorly understood. In cultural changes, the role of constructivism, or reason, is to provide variation, and the role of ecological processes is to select the norms and institutions that serve the fitness needs of societies.

Book details

Book category Books in English Society & social sciences Psychology

• Full title: Rationality in Economics
• Subtitle: Constructivist and Ecological Forms
• Author: Vernon L. Smith
• Language: English
• Binding: Hardback
• Number of pages: 388
• EAN: 9780521871358
• ISBN: 0521871352
• ID: 02048288
• Publisher: Cambridge University Press
• Weight: 646 g
• Dimensions: 236 × 163 × 26 mm
• Date of publishing: 05. November 2007

---

---

---