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Rich behavioural biases, mistakes, and limits on rational decision-making are often thought to make equilibrium analysis much more intractable. We establish that this is not the case in the context of one-sector growth models such as Ramsey-Cass-Koopmans or Bewley-Aiyagari models. We break down...
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contemporary economic theory / John S. Chipman -- Choice, preference and rationalizability in Pareto's theory of economic behaviour … / Marco Dardi -- Walras and Pareto on the meaning of the solution concept in general equilibrium theory / Franco Donzelli … / Fiorenzo Mornati -- Pareto on Ricardo and Bastable's comparative costs / Alberto Zanni -- The Paretian theory of ophelimity in …
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micro-economic theory on the level of individuals. Since economics is a social science, this article proposes that the next …
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