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This book provides a synthesis of the theoretical literature of the last ten years with some empirical applications. Social learning is about individuals learning from the behavior of others and may lead to outcomes such as herding, fads, frenzies, crashes, and booms
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Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we're doing the very...
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Society -- VI. From Micro-Analysis to Social Theory: Wieser's Gedankenexperiment and Social Economics -- VII. Conclusion: From … Empirical Behavioral Theory to Evolutionary Theory of Institution -- Appendix. … on rationality and selfishness, proposing empirical evidence that not only profit seeking but also social preferences …
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