Book : Scholarly edition
The virtues and vices of equilibrium and the future of financial economics
- Abstract:
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The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human reasoning into account. This approach has been the cornerstone of modern economic theory. We explain why this is so, extolling the virtues of equilibrium theory; then we present a critique and describe why this approach is inherently limited, and why economics needs to move in new directions if it is to continue to make progress. We stress that this shou...
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Bibliographic Details
- Source identifiers:
-
387699
Item Description
- Subtype:
- Scholarly edition
- Pubs id:
-
pubs:387699
- UUID:
-
uuid:8df0b004-da38-4384-923c-4dd95da14e9d
- Local pid:
- pubs:387699
- Deposit date:
- 2013-11-16
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