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Autor
Tomczyk Emilia
Tytuł
Rationality of expectations: comparison of neoclassical and evolutionary approaches
Źródło
Department of Applied Econometrics Working Papers, 2006, nr 1, 15 s., bibliogr. 21 poz.
Słowa kluczowe
Racjonalność, Historia myśli ekonomicznej, Ekonomia neoklasyczna, Teoria ewolucyjna w ekonomii
Rationality, History of economic thought, Neoclassical economy, Evolutionary theory in economics
Abstrakt
Paper compares two major schools of economic thought - neoclassical and evolutionary - from the perspective of keystone assumption: rationality of economic agents. It discusses role of rationality assumption in neoclassical and evolutionary theories; importance of expectations; and perspectives for analyzing them within the framework of evolutionary game theory - namely, through replicator dynamics.(original abstract)
Pełny tekst
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Bibliografia
Pokaż
  1. Albin P. S. [1998] Barriers and Bounds to Rationality: Essays on Economic Complexity and Dynamics in Interactive Systems, Princeton University Press
  2. Alchian A. A. [1950] Uncertainty, Evolution and Economic Theory, Journal of Political Economy 58:211-222
  3. Evans G. W., Honkapohja S. [2001] Learning and Expectations in Macroeconomics, Princeton University Press
  4. Foster J., Hölzl W. [2004] Introduction and overview, in: Foster J., Hölzl W. (eds.) Applied Evolutionary Economics and Complex Systems, Edward Elgar
  5. Fudenberg D., Levine D. K. [1998] The Theory of Learning in Games, MIT Press
  6. Hodgson G. M. [1999] Evolution and Institutions. On Evolutionary Economics and the Evolution of Economics, Edward Elgar
  7. Hodgson G. M. [2004] The Evolution of Institutional Economics. Agency, Structure and Darwinism in American Institutionalism, Routledge
  8. Keita L. D. [1992] Science, Rationality, and Neoclassical Economics, Associated University Presses
  9. Kwaśnicki W. [2001] Ekonomia ewolucyjna - w poszukiwaniu alternatywnego wyjaśnienia rzeczywistości społeczno-gospodarczej, Zeszyt 9. Polskiego Towarzystwa Ekonomicznego, Warszawa
  10. Nelson R. R., Winter S. G. [1982] An Evolutionary Theory of Economic Change, The Belknap Press of Harvard University Press
  11. Parke W. R., Waters G. A. [2002] An evolutionary game theory approach to rational expectations, working paper, Department of Economics, University of North Carolina
  12. Penrose E. T. [1952] Biological Analogies in the Theory of the Firm, American Economic Review 42:804-819
  13. Pesaran M. H. [1989] The Limits to Rational Expectations, Basil Blackwell
  14. Ramstad Y. [1994] On the nature of economic evolution: John R. Commons and the metaphor of artificial selection, in: Magnusson L. (ed.) Evolutionary and Neo-Schumpeterian Approaches to Economics, Kluwer Academic Publishers
  15. Schmidt C. [2004] Are evolutionary games another way of thinking about game theory? Some historical considerations, Journal of Evolutionary Economics 14:249-262
  16. Tomczyk E. [2004] Propozycja analizy oczekiwań polskich przedsiębiorców za pomocą teorii gier ewolucyjnych, working paper, Szkoła Główna Handlowa, Warszawa
  17. Vega-Redondo F. [1996] Evolution, Games, and Economic Behaviour, Oxford University Press
  18. Weibull J. W. [1995] Evolutionary Game Theory, The MIT Press
  19. Witt U. [2003] The Evolving Economy. Essays on the Evolutionary Approach to Economics, Edward Elgar
  20. Young H. P. [1998] Individual Strategy and Social Structure. An Evolutionary Theory of Institutions, Princeton University Press
  21. Young H. P. [2002] On the limits to rational learning, European Economic Review 46:791-799.
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ISSN
2084-4573
Język
eng
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