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Paperback Bounded Rationality in Macroeconomics: The Arne Ryde Memorial Lectures Book
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ISBN: 0198288697

ISBN13: 9780198288695

Bounded Rationality in Macroeconomics: The Arne Ryde Memorial Lectures

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Book Overview

How do people behave in new situations in which previous experience is not useful? The recent changes in Eastern Europe, for example, are unprecedented and there is not an available model on which to base the mechanisms that will govern the economics in this region. The concept of "bounded (or limited) rationality" is being developed to analyze behavior in such situations. In this book Thomas Sargent describes and interprets the recent work in the...

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