New Informational-behavioral Paradigm: The End of the Theory of Equilibrium or Its Second Wind?

Yu. Yassinskiy and A. Tikhonov

Voprosy Ekonomiki, 2007, issue 7

Abstract: The authors analyze the informational paradigm in economic theory. The article introduces and develops a concept of information consistency; the authors apply this concept to the analysis of labor market, credit market, etc. Moreover, they suggest that the microeconomic conclusions be extended to the macroeconomic level. So they introduce a concept of a favorable type of macrodynamics and describe macroeconomic features of economy with respect to the information consistency of certain markets. The authors come to the conclusion that the informational paradigm serves as a good supplement to the traditional equilibrium theory.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2007:id:1624

DOI: 10.32609/0042-8736-2007-7-35-58

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