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Microeconomics --- Operational research. Game theory --- Game theory --- Oligopolies

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In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning.This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart heuristics can exploit the structure of environments.

Decision making --- Reasoning --- Argumentation --- Ratiocination --- Reason --- Thought and thinking --- Judgment (Logic) --- Logic --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Choice (Psychology) --- Problem solving --- -Reasoning --- -153.43 --- Conferences - Meetings --- bedrijven, management --- besluitvorming --- 65.012.4 --- Business management, administration. Commercial organization --- Social Sciences --- Psychology --- COGNITIVE SCIENCES/Psychology/Cognitive Psychology --- COGNITIVE SCIENCES/General --- Decision making - Congresses. --- Reasoning - Congresses.

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Motivation. That elegant fiction the competitive equilibrium seems still to dominate the frontiers of theoretical microeconomics. We may think of it in a general way as a state of affairs wherein economic agents, responding "rationally" to annoWlced prices, make choices which are consistent and feasible. The prices may also be described as "taken": for one reason or another the agents who respond to them consider them as given. The existence of such a state, its optimality, its robustness against free bargaining among agents when there are many of them, its Wliqueness, its stability when price displacements evoke specified adjustments--all these issues have been studied, and continue to be studied in a variety of settings. Slowly the equilibrium investigated begins to incorporate public goods, externalities of certain kinds, differences in agents' information, and infinitely many time periods. The appeal of such results need not be belabored: the equilibrium studied may sustain an optimal resource allocation, and when it does it sus­ tains it in a manner that appears to be informationally efficient and to accord well with individual incentives. Therefore it is important to extend the circumstances under which an equilibrium exists, under which it sustains opti­ mality, and under which it survives displacements as well as free bargaining among agents.

Microeconomics --- Equilibrium (Economics) --- 330.105 --- Wiskundige economie. Wiskundige methoden in de economie --- Business & Economics --- Economic Theory --- 330.105 Wiskundige economie. Wiskundige methoden in de economie --- Théorie des jeux --- Economie mathematique --- Modeles economiques

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Operational research. Game theory --- Cooperation --- Equilibrium (Economics) --- Game theory --- 330.1 --- Games, Theory of --- Theory of games --- Mathematical models --- Mathematics --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Economics --- Statics and dynamics (Social sciences) --- Collaborative economy --- Cooperative distribution --- Cooperative movement --- Distribution, Cooperative --- Peer-to-peer economy --- Sharing economy --- Profit-sharing --- 330.1 Economische grondbegrippen. Algemene begrippen in de economie --- Economische grondbegrippen. Algemene begrippen in de economie --- Cooperation. --- Equilibrium (Economics). --- Game theory.

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Laboratory experiments with human subjects now provide crucial data in most fields of economics and there has been a tremendous upsurge in interest in this relatively new field of economics. This textbook introduces the student to the world of experimental economics. Contributors including Reinhard Selten and Axel Leijonhufvud that sketch the history of experimental economics before moving on to describe how to set up an economics experiment and to survey selected applications and the latest methods. This user-friendly book demonstrates how students can use the lessons to conduct ori

AA / International- internationaal --- 330.3 --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Experimental economics. --- Microeconomics --- Economics --- Methodology. --- Research. --- Simulation methods. --- Experimental economics --- Economic theory --- Political economy --- Research --- Simulation methods --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Social sciences --- Economic man --- Methodology