Learning and Rationality in Economics
Published on 16. March 1995
Book
Hardback
320 pages
978-0-631-18488-1 (ISBN)
Description
Bringing together specially commissioned chapters, this book examines how agents learn about the economic environment in which they operate and how they learn about the behaviour of other participants. The first part of the book presents surveys of the state of the art in the various approaches to this question. These range across evolution and survival of various types of behaviour, Bayesian learning and bounded rationality, and consider the consequences of the learning process from both an individual and social perspective. The second part analyzes different aspects of the learning process and its implications for economic activity.
More details
Language
English
Place of publication
Oxford
United Kingdom
Publishing group
John Wiley and Sons Ltd
Target group
College/higher education
Professional and scholarly
Illustrations
index
Dimensions
Height: 229 mm
Width: 152 mm
Weight
724 gr
ISBN-13
978-0-631-18488-1 (9780631184881)
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Schweitzer Classification
Content
What has the rational learning literature taught us?, L. Blume and D. Easley; Savage-Bayesian models of economics, N. Kiefer and Y. Nyarko; on adaptive learning in strategic games, R. Narimon and E. McGrattan; adaptive learning and expectational stability, G. Evans and S. Honkapohja; learning in oligopoly - theory, simulation and experimental evidence, A. Kirman; speed of convergence of recursive least squares - learning with autoregressive moving-average perceptions; increasing social returns, learning and bifurcation phenomena, G. Evans and S. Honkapohja; bounded rationality and learning - procedural learning, M. Salmon; learning and reputation in repeated games of incomplete information, D. Canning; learning and social equilibrium in large populations, D. Canning; evolution and rationality in competitive markets, L. Blume and D. Easley; evolutionary selection and rational behaviour, A. Banerjee and J. Weibull; equilibrium selection through adaption and experimentation, H. Young.