UID:
almafu_9959242885002883
Format:
1 online resource (xx, 364 pages) :
,
digital, PDF file(s).
ISBN:
9780511754364 (e-book)
,
9780521871358 (hbk.)
,
9780521133388 (pbk.)
Content:
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 them with the main themes of the Scottish Enlightenment and with the thoughts of F. A. Hayek: through emergent socio-economic institutions and cultural norms, people achieve ends that are unintended and poorly understood. In cultural changes, the role of constructivism, or reason, is to provide variation, and the role of ecological processes is to select the norms and institutions that serve the fitness needs of societies.
Note:
Title from publisher's bibliographic system (viewed on 05 Oct 2015).
,
Introduction -- PART I: RATIONALITY, MARKETS, AND INSTITUTIONS -- 1 Rediscovering the Scottish Philosophers -- 2 On Two Forms of Rationality -- PART II: IMPERSONAL EXCHANGE: THE EXTENDED ORDER OF THE MARKET -- 3 Relating the Two Concepts of a Rational Order -- 4 Market Institutions and Performance -- 5 Asymmetric Information and Equilibrium without Process -- 6 FCC Spectrum Auctions and Combinatorial Designs -- 7 Psychology and Markets -- 8 What Is Rationality? -- PART III: PERSONAL EXCHANGE: THE EXTERNAL ORDER OF SOCIAL EXCHANGE -- 9 Emergent Order without the Law -- 10 The Effects of Context on Behavior -- 11 Investment Trust Games -- 12 Reciprocity in Trust Games -- PART IV: ORDER AND RATIONALITY IN METHOD AND MIND -- 13 Rationality in Science -- 14 Neuroeconomics -- 15 A Summary -- References -- Index.
Language:
English
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