Big Players and the Economic Theory of Expectations
Download or Read eBook Big Players and the Economic Theory of Expectations PDF written by R. Koppl and published by Springer. This book was released on 2002-06-19 with total page 258 pages. Available in PDF, EPUB and Kindle.
Author | : R. Koppl |
Publisher | : Springer |
Total Pages | : 258 |
Release | : 2002-06-19 |
ISBN-10 | : 9780230629240 |
ISBN-13 | : 0230629245 |
Rating | : 4/5 (40 Downloads) |
Book Synopsis Big Players and the Economic Theory of Expectations by : R. Koppl
Book excerpt: 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 to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.