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.n 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 socioeconomic 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.
How to download book
Buy this book
You can buy this book now only for $20.19. This is the lowest price for this book.
Download book free
If you want to download this book for free, please register, approve your account and get one book for free.
After that you may download book «Rationality in Economics»: