||26 of 26 people found the following review helpful.| Unique insights plus an enjoyable read|By Bartley J. Madden|I read a lot of books about economics. Until reading Rationality in Economics, I had not read an economics book that gave me precisely what I want: (1) genuine insights on a wide range of important issues, (2) a feel for the key contributions in the academic literature with a minimum of technical detail, and (3) a||'The journey that brought Vernon Smith to his Nobel Prize is not over. It obviously brought us constructive tools, in the form of controlled experimental methods that allow economists to see the lay of the behavioral land more clearly than before. But this ma
The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates th...
[PDF.jy07] Rationality in Economics: Constructivist and Ecological Forms Rating: 3.97 (688 Votes)
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You can specify the type of files you want, for your device.Rationality in Economics: Constructivist and Ecological Forms | Vernon L. Smith. A good, fresh read, highly recommended.
