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Rationality in Economics: Constructivist and Ecological Forms
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Rationality in Economics: Constructivist and Ecological Forms

4.20  ·  Rating Details  ·  30 Ratings  ·  3 Reviews
The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional ga ...more
Hardcover, 364 pages
Published November 1st 2007 by Cambridge University Press (first published October 31st 2007)
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Radovan Kavický
Jan 12, 2016 Radovan Kavický rated it it was amazing  ·  review of another edition
Shelves: economics
Until reading Rationality in Economics, I had not read an economics book that gave me precisely what I want: (1) genuine insights on a wide range of important issues, (2) a feel for the key contributions in the academic literature with a minimum of technical detail, and (3) a writing style that explains so much in straightforward language that reading the book becomes a uniquely enjoyable learning experience.

Vernon Smith embraces Hayek's model of human psychology in The Sensory Order (1952), wh
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Bill Easterly
Jul 29, 2009 Bill Easterly rated it really liked it
The best Hayekian book in a while -- unfortunately the writing is so turgid (starting with the title!) that it is unlikely to find a very wide audience.
Homo Ludens
Feb 25, 2010 Homo Ludens rated it it was amazing
As a huge fan of F.A. Hayek, I was very happy to see some of his deepest ideas pursued by a great scholar.
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