No Prices No Games!
While current economic theory focuses on prices and games, this book models economic settings where harmony is established through one of the following societal conventions: • A power relation according to which stronger agents are able to force weaker ones to do things against their will. • A norm...
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| Autor principal: | |
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| Formato: | Online |
| Idioma: | inglês |
| Publicado em: |
Open Book Publishers
2024
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| Assuntos: | |
| Acesso em linha: | https://library.oapen.org/handle/20.500.12657/94844 |
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| _version_ | 1869529490915328000 |
|---|---|
| author | Richter, Michael |
| author_browse | Richter, Michael |
| author_facet | Richter, Michael |
| author_sort | Richter, Michael |
| collection | Directory of Open Access Books |
| description | While current economic theory focuses on prices and games, this book models economic settings where harmony is established through one of the following societal conventions: • A power relation according to which stronger agents are able to force weaker ones to do things against their will. • A norm that categorizes actions as permissible or forbidden. • A status relation over alternatives which limits each agent's choices. • Systematic biases in agents' preferences. These four conventions are analysed using simple and mathematically straightforward models, without any pretensions regarding direct applied usefulness. While we do not advocate for the adoption of any of these conventions specifically – we do advocate that when modelling an economic situation, alternative equilibrium notions should be considered, rather than automatically reaching for the familiar approaches of prices or games. |
| format | Online |
| id | doab-20.500.12854ir-148360 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | Open Book Publishers |
| publisherStr | Open Book Publishers |
| record_format | ojs |
| spelling | doab-20.500.12854ir-1483602024-12-10T06:01:19Z No Prices No Games! Richter, Michael Economic Theory;Models;Prices;Games;Agents;Equilibrium thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCK Behavioural economics While current economic theory focuses on prices and games, this book models economic settings where harmony is established through one of the following societal conventions: • A power relation according to which stronger agents are able to force weaker ones to do things against their will. • A norm that categorizes actions as permissible or forbidden. • A status relation over alternatives which limits each agent's choices. • Systematic biases in agents' preferences. These four conventions are analysed using simple and mathematically straightforward models, without any pretensions regarding direct applied usefulness. While we do not advocate for the adoption of any of these conventions specifically – we do advocate that when modelling an economic situation, alternative equilibrium notions should be considered, rather than automatically reaching for the familiar approaches of prices or games. 2024-12-10T06:01:18Z 2024-12-10T06:01:18Z 2024-12-02T11:37:12Z 2024 book https://library.oapen.org/handle/20.500.12657/94844 9781805114581 9781805114598 9781805114604 https://directory.doabooks.org/handle/20.500.12854/148360 eng open access image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/94844/1/obp.0438.pdf Open Book Publishers 10.11647/OBP.0438 10.11647/OBP.0438 b014b543-78bd-4c3b-bc71-b68e2ac855b9 9781805114581 9781805114598 9781805114604 156 Cambridge open access |
| spellingShingle | Economic Theory;Models;Prices;Games;Agents;Equilibrium thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCK Behavioural economics Richter, Michael No Prices No Games! |
| title | No Prices No Games! |
| title_full | No Prices No Games! |
| title_fullStr | No Prices No Games! |
| title_full_unstemmed | No Prices No Games! |
| title_short | No Prices No Games! |
| title_sort | no prices no games |
| topic | Economic Theory;Models;Prices;Games;Agents;Equilibrium thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCK Behavioural economics |
| topic_facet | Economic Theory;Models;Prices;Games;Agents;Equilibrium thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCK Behavioural economics |
| url | https://library.oapen.org/handle/20.500.12657/94844 |
| work_keys_str_mv | AT richtermichael nopricesnogames |