Aggregation, Learning and Rationality

Jean-Michel Grandmont () and Alan Kirman

Chapter 3 in Economics in a Changing World, 1996, pp 63-89 from Palgrave Macmillan

Abstract: Abstract The assumption that individual economic units behave ‘rationally’ is widely used in many areas of economic theorizing, be it in microeconomics or macroeconomics. The purpose of this chapter is to review briefly a few recent studies that tend to challenge two aspects of this assumption.

Keywords: Demand Function; Market Demand; Rational Expectation; Price Vector; Imperfect Competition (search for similar items in EconPapers)
Date: 1996
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Working Paper: Aggregation, learning and rationality (1992)
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DOI: 10.1007/978-1-349-25168-1_3

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