Expectations, Rationality and Economic Performance: Models and Experiments - Couverture rigide

Rötheli, Tobias F.

 
9781845427429: Expectations, Rationality and Economic Performance: Models and Experiments
Couverture rigide
ISBN 10 : 1845427424 ISBN 13 : 9781845427429
Editeur : Edward Elgar Publishing Ltd, 2007

Synopsis

This book offers a broad perspective on the economics of expectations. Experimental studies are used to analyse how human bounded rationality affects economic performance. The challenges posed for policy making are also addressed.

Tobias Rotheli begins by presenting the basic tools and theoretical models necessary to our understanding of rational and boundedly rational expectations and their role in economic life. Key topics discussed include expectations in general equilibrium theory, probabilities and expected utility, heterogeneity of economic agents, behavioural alternatives to forecasting and the effects of expectations heuristics, particularly in financial markets. The author then goes on to explore the fascinating insights behavioural economics - the empirical analysis of economic decision making - has to offer. Here experimental studies illustrate the effects of costly information, the role of pattern recognition as basis of expectations, anticipation and coordination failures, and the role of expectations in determining the general price level. The book also addresses the implications of the experimental findings for applied economics.

Aiming to achieve the accessibility of a textbook, this research monograph will appeal to economic researchers interested in economic behaviour and theory, as well as students taking upper-level undergraduate and graduate courses. It will also be of interest to economists working in business and government.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

À propos de l?auteur

Tobias F. Rötheli, Professor of Economics, University of Erfurt, Germany

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Edward Elgar Publishing Ltd
Date d'édition
2007
Langue
anglais
ISBN 10 
1845427424
ISBN 13 
9781845427429
Reliure
Relié
Nombre de pages
224
Coordonnées du fabricant
non disponible
Personne responsable
non disponible

Autres éditions populaires du même titre

9781848444683: Expectations, Rationality and Economic Performance: Models and Experiments

Edition présentée

ISBN 10 :  1848444680 ISBN 13 :  9781848444683
Editeur : Edward Elgar Publishing Ltd, 2009
Couverture souple