Cournot Marked the Turn from Classical to Neoclassical Thinking

Vernon Smith () and Sabiou Inoua

Working Papers from Chapman University, Economic Science Institute

Abstract: For classical economists, markets served the highest value buyers without anyone in the market needing to know that it was possible to write aggregate buyer reservation prices in the form, D = F (p). Cournot, thereby launched neoclassical economics as modelling and thinking of economic action in terms of their outcome effects, rather than their roots in human experience.

Keywords: History of economic thought; micro theory; experimental economics (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-his and nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:chu:wpaper:19-14

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