Showing 1 - 6 of 6
No abstract.
Persistent link: https://www.econbiz.de/10010685062
Bounded rationality provides a fundamental economic explanation for non-rational modes of behavior. These non-rational modes underlie both the erratic perturbations of entrepreneurship and the systematic waves of diffusion they initiate which in turn guarantee that the economy operates out of...
Persistent link: https://www.econbiz.de/10011019055
An adaptive economizing framework is proposed for analyzing labor market aspects of long-term industrial development using a dynamic, disaggregate economic model based upon principles of bounded rationality and markets in disequilibrium. The approach is applied to a firm's investment-production...
Persistent link: https://www.econbiz.de/10010684452
Economic growth in the very long run is described by a multiple-phase, dynamic process with potentially complex dynamics during transitions between regimes. Technology is assumed to rest on a managerial-administrative infrastructure which influences natality, mortality and the productivity of...
Persistent link: https://www.econbiz.de/10010684536
Our concern is with economizing behavior when preferences depend on experience. It is shown that such dependence, reflecting 'deep psychological structure', even when it is stable or habit forming in a fixed environment, can be destabilizing in a market context when prices are adjusting, even...
Persistent link: https://www.econbiz.de/10010818396
No abstract.
Persistent link: https://www.econbiz.de/10010818479