ID - 843415 TI - A theory of adaptive economic behavior PY - 1983 SN - 0521251109 0521067111 0511983859 9780521251105 9780511983856 9780521067119 PB - Cambridge Cambridge University Press DB - UniCat KW - Marketing KW - Microeconomics KW - Equilibrium (Economics) KW - Learning, Psychology of KW - Psychological aspects KW - Business, Economy and Management KW - Economics KW - Microeconomics - Psychological aspects KW - Learning, Psychology of. KW - Psychological aspects. KW - Price theory KW - Learning KW - Psychology of learning KW - Educational psychology KW - Comprehension KW - Learning ability KW - DGE (Economics) KW - Disequilibrium (Economics) KW - DSGE (Economics) KW - Dynamic stochastic general equilibrium (Economics) KW - Economic equilibrium KW - General equilibrium (Economics) KW - Partial equilibrium (Economics) KW - SDGE (Economic theory) KW - Statics and dynamics (Social sciences) UR - https://www.unicat.be/uniCat?func=search&query=sysid:843415 AB - 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. ER -