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Zusatztext "[ Individual Strategy and Social Structure ] should be a valuable resource for all interested in this extremely valuable and flexible technique. Self-contained and pleasant to read." Informationen zum Autor H. Peyton Young Klappentext Neoclassical economics as-sumes that people are highly rational and can reason their way through even the most complex economic problems. In Individual Strategy and Social Structure, Peyton Young argues for a more realistic view in which people have a limited understanding of their environment, are sometimes short-sighted, and occasionally act in perverse ways. He shows how the cumulative experiences of many such individuals coalesce over time into customs, norms, and institutions that govern economic and social life. He develops a theory that predicts how such institutions evolve and characterizes their welfare properties. The ideas are illustrated through a variety of examples, including patterns of residential segregation, rules of the road, claims on property, forms of economic contracts, and norms of equity. The book relies on new results in evolutionary game theory and stochastic dynamical systems theory, many of them originated by the author. It can serve as an introductory text, or be read on its own as a contribution to the study of economic and social institutions. Zusammenfassung Neoclassical economics as-sumes that people are highly rational and can reason their way through even the most complex economic problems. In Individual Strategy and Social Structure , Peyton Young argues for a more realistic view in which people have a limited understanding of their environment, are sometimes short-sighted, and occasionally act in perverse ways. He shows how the cumulative experiences of many such individuals coalesce over time into customs, norms, and institutions that govern economic and social life. He develops a theory that predicts how such institutions evolve and characterizes their welfare properties. The ideas are illustrated through a variety of examples, including patterns of residential segregation, rules of the road, claims on property, forms of economic contracts, and norms of equity. The book relies on new results in evolutionary game theory and stochastic dynamical systems theory, many of them originated by the author. It can serve as an introductory text, or be read on its own as a contribution to the study of economic and social institutions. Inhaltsverzeichnis Preface Ch. 2Learning Ch. 3Dynamic and Stochastic Stability Ch. 4Adaptive Learning in Small Games Ch. 5Variations on the Learning Process Ch. 6Local Interaction Ch. 7Equilibrium and Disequilibrium Selection in General Games Ch. 8Bargaining Ch. 9Contracts Ch. 10Conclusion AppendixProofs of Selected Theorems Notes Bibliography Index ...
"[Individual Strategy and Social Structure] should be a valuable resource for all interested in this extremely valuable and flexible technique. Self-contained and pleasant to read."
Auteur
H. Peyton Young
Texte du rabat
Neoclassical economics as-sumes that people are highly rational and can reason their way through even the most complex economic problems. In Individual Strategy and Social Structure, Peyton Young argues for a more realistic view in which people have a limited understanding of their environment, are sometimes short-sighted, and occasionally act in perverse ways. He shows how the cumulative experiences of many such individuals coalesce over time into customs, norms, and institutions that govern economic and social life. He develops a theory that predicts how such institutions evolve and characterizes their welfare properties. The ideas are illustrated through a variety of examples, including patterns of residential segregation, rules of the road, claims on property, forms of economic contracts, and norms of equity. The book relies on new results in evolutionary game theory and stochastic dynamical systems theory, many of them originated by the author. It can serve as an introductory text, or be read on its own as a contribution to the study of economic and social institutions.
Contenu
Preface Ch. 2Learning Ch. 3Dynamic and Stochastic Stability Ch. 4Adaptive Learning in Small Games Ch. 5Variations on the Learning Process Ch. 6Local Interaction Ch. 7Equilibrium and Disequilibrium Selection in General Games Ch. 8Bargaining Ch. 9Contracts Ch. 10Conclusion AppendixProofs of Selected Theorems Notes Bibliography Index