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OverviewClassical 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. Full Product DetailsAuthor: Professor of Economics Jacques Lesourne (Conservatoire National des Arts et Metiers, Paris; Chairman and Managing Director of Le Monde) , Bernard WalliserPublisher: Springer Imprint: Springer ISBN: 9781280625671ISBN 10: 1280625678 Pages: 296 Publication Date: 01 January 2006 Audience: General/trade , General Format: Undefined Publisher's Status: Active Availability: In stock  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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