Advances in Behavioral Economics: Essays in Honor of Horst by Professor Dr. Friedel Bolle, Professor Dr. Michael Carlberg

By Professor Dr. Friedel Bolle, Professor Dr. Michael Carlberg (auth.), Professor Dr. Friedel Bolle, Professor Dr. Michael Carlberg (eds.)

The connection of monetary concept and behaviour is among the crucial issues of this e-book - and likewise a crucial factor in financial considering Horst Todt to whom this publication is devoted. The contributions care for subject matters of normative and descriptive decision-making: They examine, for example, the emergence of selections or the position of imitation as a aggressive precept. a few contributions deal with specific decision-making difficulties on a micro or on a macro point, while others be aware of the primary questions of decision-making or at the conceptualization of significant yet fuzzy notions like energy or solidarity.

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1996). Why Bounded Rationality? Journal of Economic Literature 34, 669-700. [6] Day, R. , S. Morley, and K. R. Smith (1974). Myopic Optimizing and Rules of Thumb in a Micro-Model of Industrial Growth. American Economic Review 64(1), 11-23. [25] von Ditfurth, H. (1976). Der Geist fiel nicht vom Himmel, Die Evolution unseres Bewufltseins. Hamburg: Hoffmann und Campe. (reprint 1993). , M. Milgate, and P. ) (1987). The New Palgrave, A Dictionary of Economics. London: Macmillan. [8] Ellison, G. and D.

1995). Der Korper des Menschen, EinfUhrung in Bau und Funktion, neubearbeitet von M. ). Stuttgart: Georg Thieme. [11] Gandolfo, G. (1996). ). Berlin: Springer. [12] Krusell, P. and A. A. Smith, Jr. (1996). Rules of thumb in Macroeconomic Equilibrium: A Quantitative Analysis. Journal of Economic Dynamics and Control 20, 527-558. [13] La Salle, J. and S. Lefschetz (1961). Stability by Liapunov's Direct Method with Applications. New York: Academic Press. [14] Lettau, M. and H. Uhlig (1999). Rules of Thumb Versus Dynamic Programming.

Note that it is not always the case that the OPI and PGI show identical results for identical games. An example would be the voting game. e. strict minimum winning coalitions) should be considered when it comes to measuring power. All other coalitions are either nonwinning or contain at least one member which does not contribute to winning. If coalitions of the second type are formed, then it is by luck, similarity of preferences, tradition, etc. - but not because of power. It should be noted that the PGI does not maintain that only minimal decisive coalitions will be formed.

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