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This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation.

Marketing --- Microeconomics --- Equilibrium (Economics) --- Learning, Psychology of --- Psychological aspects --- Business, Economy and Management --- Economics --- Microeconomics - Psychological aspects --- Learning, Psychology of. --- Psychological aspects. --- Price theory --- Learning --- Psychology of learning --- Educational psychology --- Comprehension --- Learning ability --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Statics and dynamics (Social sciences)

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Game theory --- Equilibrium (Economics) --- 330.115 --- 330.1 --- 519.8 --- Games, Theory of --- Theory of games --- Mathematical models --- Mathematics --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Economics --- Stagnation (Economics) --- Statics and dynamics (Social sciences) --- Econometrie --- Economische grondbegrippen. Algemene begrippen in de economie --- Operational research --- Game theory. --- Equilibrium (Economics). --- 519.8 Operational research --- 330.1 Economische grondbegrippen. Algemene begrippen in de economie --- 330.115 Econometrie --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory)

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Equilibrium (Economics) --- Keynesian economics --- 330.01 --- 330.47 --- 333.403 --- 380.20 --- AA / International- internationaal --- Post-Keynesian economics --- Schools of economics --- 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) --- Theorie van het economisch evenwicht --- Keynes en zijn school --- Monetaire theorieën. Kwantitatieve theorie. Theorie van de incasso's. Optiek van de uitgaven en inkomens --- Prijstheorieën: algemeenheden --- Macroeconomics --- Economic schools --- Equilibrium (Economics). --- Keynesian economics.

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336.741.28 --- Equilibrium (Economics) --- Money --- AA / International- internationaal --- 333.403 --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Economics --- Stagnation (Economics) --- Statics and dynamics (Social sciences) --- Geldtheorie. Monetaire theorieen. Monetaire analyse. Monetair evenwicht. Geldtheorieen --- Monetaire theorieën. Kwantitatieve theorie. Theorie van de incasso's. Optiek van de uitgaven en inkomens. --- 336.741.28 Geldtheorie. Monetaire theorieen. Monetaire analyse. Monetair evenwicht. Geldtheorieen --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Monetaire theorieën. Kwantitatieve theorie. Theorie van de incasso's. Optiek van de uitgaven en inkomens

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These thirteen papers and accompanying commentaries are the first fruits of an ongoing research project that has concentrated on developing simulation models that incorporate the behavioral responses of individuals and businesses to alternative tax rules and rates and on expanding computational general equilibrium models that analyze the long-run effects of changes on the economy as a whole. The principal focus of the project has been on the microsimulation of individual behavior. Thus, this volume includes studies of individual responses to an over reduction in tax rates and to changes in the highest tax rates; a study of alternative tax treatments of the family; and studies of such specific aspects of household behavior as tax treatment of home ownership, charitable contributions, and individual saving behavior. Microsimulation techniques are also used to estimate the effects of alternative policies on the long-run financial status of the social security program and to examine the effects of alternative tax rules on corporate investment and of foreign-source income on overseas investment. The papers devoted to the development of general equilibrium simulation models to include an examination of the implications of international trade and capital flows, a study of the effects of capital taxation that uses a closed economy equilibrium model, and an examination of the effect of switching to an inflation-indexed tax system. In the volume's final paper, a life-cycle model in which individuals maximize lifetime utility subject to a lifetime budget constraint is used to simulate the effects of tax rules on personal savings.

Taxes --- United States --- Taxation --- Fiscal policy --- Simulation methods. --- -Taxation --- -politique fiscale --- eua --- AA / International- internationaal --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 336.61 --- 336.201 --- Duties --- Fee system (Taxation) --- Tax policy --- Tax reform --- Taxation, Incidence of --- Finance, Public --- Revenue --- Economic policy --- Simulation methods --- Simulation methods, --- fiscaal beleid --- vsa --- Financieel beleid. --- Fiscaal regime: structuur en evolutie. Fiscale hervorming. --- Government policy --- politique fiscale --- Fiscaal regime: structuur en evolutie. Fiscale hervorming --- Financieel beleid --- Taxation - United States - Simulation methods. --- Fiscal policy - United States - Simulation methods. --- economics, tax policy, taxes, money, finances, government, governing policies, research project, simulation models, behavioral responses, individuals, businesses, computational general equilibrium model, long term effects, change, microsimulation, home ownership, saving behaviors, charitable contributions, taxation, united states of america, usa, american economy, fiscal, life cycle, methodology, labor, income, social security, welfare, domestic. --- United States of America