Individual and Collective RationalityBook - 2011
The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes....
Publisher: London ; New York, NY : Routledge, 2011
Branch Call Number: HB171 .K514 2011
Characteristics: xiv, 241 p.,  p. of col. plates : ill. ; 25 cm