An Economic Theorist's Book of Tales
| Author | : | |
| Rating | : | 4.36 (618 Votes) |
| Asin | : | 0521269334 |
| Format Type | : | paperback |
| Number of Pages | : | 208 Pages |
| Publish Date | : | 2016-01-18 |
| Language | : | English |
DESCRIPTION:
Some of the essays derive the implications for economic markets of costly asymmetric information. These essays are substantively and stylistically novel because they break these taboos and bring new assumptions into economic theory. In consequence, consideration of alternative assumptions has become taboo. The papers apply this adventurous approach to a wide range of issues - from insurance markets and trade in underdeveloped countries to unemployment and discrimination. Others explore the findings of other social sciences such as ant
"Akerlof Entertains While Educating" according to Dr. N. B. Firoozye. Beautifully simple models to explain common phenomena economically. Why do the values of used cars depreciate so much relative to new? (and why are there so many that are "lemons"). Does it make sense to use statistical indicators (e.g., be racist or otherwise biased)? When?Lots of simple models in the spirit of Becker. A must read.
'These essays show how much good can come from combining skillful economic analysis with a willingness to take seriously the elementary facts of social life. Solow, Massachusetts Institute of Technology . Many of us pay lip service to that ideal; George Akerlof is one of the few who actually live up to it, with fascinating results.' Robert M