Bounded Rationality in Macroeconomics: The Arne Ryde Memorial Lectures

by Thomas J. Sargent

Book Overview

How do people behave in new situations in which previous experience is not useful? The recent changes in Eastern Europe, for example, are unprecedented and there is not an available model on which to base the mechanisms that will govern the economics in this region. The concept of "bounded (or limited) rationality" is being developed to analyze behavior in such situations. In this book Thomas Sargent describes and interprets the recent work in the...

• Format: Paperback
• Language: English
• ISBN: 0198288697
• ISBN13: 9780198288695
• Release Date: February 1994
• Publisher: Clarendon Press
• Length: 200 Pages
• Weight: 0.65 lbs.
• Dimensions: 0.6" x 5.5" x 8.5"