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The Present State of Consumer Theory

- The Implications for Social Welfare Theory
Af: Timothy P. Roth Engelsk Paperback

The Present State of Consumer Theory

- The Implications for Social Welfare Theory
Af: Timothy P. Roth Engelsk Paperback
Tjek vores konkurrenters priser
The neoclassical theory of choice is an integral part of a large and growing literature. Its elegance, simplicity and apparent generality appear, increasingly, to influence the thinking of psychologists, sociologists, and political scientists. At the same time, the theory is subject to robust attack. The theme of the book is that the critics have it right. Account must be taken of the endogeneity of preference and value structures, of decision makers'' cognitive limitations, of information asymmetries, of opportunistic behavior, and of positive transaction and decision costs. Yet these considerations militate against the specification of both the efficiency frontier and the Social Welfare Function. This, in turn, suggests that Social Welfare Theory is an inappropriate guide for the formulation of distributional and other economic policies. A corollary is that economists'' (and others) attention should center less on ''getting the prices right'' and more on ''getting the institutions right''.
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Tjek vores konkurrenters priser
The neoclassical theory of choice is an integral part of a large and growing literature. Its elegance, simplicity and apparent generality appear, increasingly, to influence the thinking of psychologists, sociologists, and political scientists. At the same time, the theory is subject to robust attack. The theme of the book is that the critics have it right. Account must be taken of the endogeneity of preference and value structures, of decision makers'' cognitive limitations, of information asymmetries, of opportunistic behavior, and of positive transaction and decision costs. Yet these considerations militate against the specification of both the efficiency frontier and the Social Welfare Function. This, in turn, suggests that Social Welfare Theory is an inappropriate guide for the formulation of distributional and other economic policies. A corollary is that economists'' (and others) attention should center less on ''getting the prices right'' and more on ''getting the institutions right''.
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Se mere i:
Produktdetaljer
Sprog: Engelsk
Sider: 236
ISBN-13: 9780761809449
Indbinding: Paperback
Udgave:
ISBN-10: 0761809449
Kategori: Økonomi
Udg. Dato: 29 dec 1997
Længde: 17mm
Bredde: 140mm
Højde: 216mm
Forlag: University Press of America
Oplagsdato: 29 dec 1997
Forfatter(e): Timothy P. Roth
Forfatter(e) Timothy P. Roth

Kategori Økonomi

ISBN-13 9780761809449

Sprog Engelsk

Indbinding Paperback

Sider 236

Udgave

Længde 17mm

Bredde 140mm

Højde 216mm

Udg. Dato 29 dec 1997

Oplagsdato 29 dec 1997

Forlag University Press of America

Kategori sammenhænge