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Interaction and Market Structure

Interaction and Market Structure

Essays on Heterogeneity in Economics

by Mauro GallegatiDomenico Delli Gatti and Alan P. Kirman
Paperback
Publication Date: 27/03/2000

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This book is a collection of essays which examine how the properties of aggregate variables are influenced by the actions and interactions of heterogenous individuals in different economic contexts. The common denominator of the essays is a critique of the representative agent hypothesis. If this hypothesis were correct, the behaviour of the aggregate variable would simply be the reproduction of individual optimising behaviour. In the methodology of the hard sciences, one of the achievements of the quantum revolution has been the rebuttal of the notion that aggregate behaviour can be explained on the basis of the behaviour of a single unit: the elementary particle does not even exist as a single entity but as a network, a system of interacting units. In this book, new tracks in economics which parallel the developments in physics mentioned above are explored. The essays, in fact are contributions to the analysis of the economy as a complex evolving system of interacting agents.
ISBN:
9783540669791
9783540669791
Category:
Macroeconomics
Format:
Paperback
Publication Date:
27-03-2000
Language:
English
Publisher:
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Country of origin:
Germany
Pages:
298
Dimensions (mm):
235x155x16mm
Weight:
0.48kg

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