Generalized Microeconomics

Jiri Hlavacek and Michal Hlaváček

in University of Chicago Press Economics Books from University of Chicago Press

Abstract: The generalization of microeconomics enables model descriptions of economic rationality, even in fields that standard microeconomics more or less avoids, like nonprofit sectors of market economies, altruism, or externalities. Here, the authors broaden the scope of microeconomics while treating standard profit maximization as a special case. They argue, ultimately, that the generalizing criterion is a Darwinian maximization of the probability of survival.

Date: 2014
ISBN: 9788024620244
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