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Equilibrium Models in Economics by Lawrence A. Boland (Paperback, 2017)

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The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations.Lawrence Boland here explores whether equilibrium models can provide a realistic explanation of economic events and objects such as prices, market demands and market supplies. He traces how the different perspectives on equilibrium models represented by such creators as Kenneth Arrow, Robert Clower, and George Richardson influenced subsequent developments in economics. A key debate is about the comparative importance of whether equilibrium refers to a state of an actual economy or a property of a formal mathematical model. Another is the extent that the distinction between a model's exogenous vs. endogenous variables involves causality. Also explored are more recent efforts provided by behavioral, evolutionary, and complexity economics-whether they might change how economics is practiced in the future and how they could. Equilibrium Models in Economics is a trenchant exploration of how the discipline has grappled with attempts to understand and explain the way information, knowledge, and the expectations of actors participating in the economy influence outcomes and behavior. It presents a realistic, workable theory of knowledge and learning, simulating how decision makers and other actors operate in fast-changing equilibrium conditions.

Product Identifiers

Publisher
Oxford University Press Inc
ISBN-13
9780190274337
eBay Product ID (ePID)
233788914

Product Key Features

Author
Lawrence A. Boland
Publication Name
Equilibrium Models in Economics
Format
Paperback
Language
English
Subject
Economics
Publication Year
2017
Type
Textbook
Number of Pages
288 Pages

Dimensions

Item Height
233mm
Item Width
157mm
Item Weight
408g

Additional Product Features

Title_Author
Lawrence A. Boland
Country/Region of Manufacture
United States

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Equilibrium Models in Economics by Lawrence A. Boland (Paperback, 2017)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

A guide to the Project Management Body of Knowledge (PMBOK guide) and the Standard for project management by Project Management Institute (Paperback, 2021)

The Weed Forager's Handbook: A Guide to Edible and Medicinal Weeds in Australia by Adam Grubb, Annie Raser-Rowland (2012, Paperback)

Polyvagal Exercises for Safety and Connection: 50 Client-Centered Practices by Deb Dana (Paperback, 2020)

Save on Adult Learning & University

Ford Falcon EF, EL/Fairlane NF, NL/LTD DF, DL 1994-1998 Haynes Workshop Manual

Netter Atlas of Human Anatomy: Classic Regional Approach

Michael Price Nick Vandome Windows 11 for Seniors in easy steps (Paperback)

Dr. Robert Melillo Disconnected Kids - Revised and Updated (Paperback)

The Demon-Haunted World: Science as a Candle in the Dark by Carl Sagan (English)

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