Complex economics : individual and collective rationality / Alan Kirman.

Format:

Book

Author/Creator:

Kirman, A. P.

Language:

English

Subjects (All):

Economics.

Social sciences.

Physical Description:

1 online resource (272 p.)

Edition:

1st ed.

Place of Publication:

New York, NY : Routledge, 2010.

Language Note:

English

Summary:

The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view.The economy should b

Contents:

Book Cover; Title; Copyright; Contents; List of tables; List of figures; Preface; 1 Introduction; 2 The structure of interaction; 3 Fish markets: An example of the emergence of aggregate coordination; 4 Financial markets: Bubbles, herds and crashes; 5 Public goods: A coordination problem; 6 Segregation: Schelling's model; 7 Conclusion; Bibliography; Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

1-136-94167-3

1-282-78154-5

9786612781544

0-203-84749-0

9780203847497

OCLC:

664551621