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Paperback Big Players and the Economic Theory of Expectations Book
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ISBN: 134939968X

ISBN13: 9781349399680

Big Players and the Economic Theory of Expectations

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Format: Paperback

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Book Overview

Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory of expectations that assumes people interpret their situations in unpredictable ways. Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary policy interventions create ignorance and uncertainty. The volume uses innovative methods...

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