A Theory of Individual Behavior
A Theory of Individual Behavior dispels the notion that individuals act as rational agents and strives to capture idiosyncratic humanness through rigorous mathematics. Wichers describes a version of economic behavior that is more comprehensive and satisfying than neoclassical models yet still consistent with the usual aggregated concepts that form the basis of applied microeconomics. Written in an accessible and convincing style, A Theory of Individual Behavior discusses innovative material in a format that encourages classroom use. All chapters have questions at their conclusions, and there is a strong emphasis on testable results. The book contains a short review of mathematical models and discussion of received microeconomic theory, as well as summaries at the ends of chapters and many examples and illustrations.
What people are saying - Write a review
We haven't found any reviews in the usual places.
action space activity analysis agent apples basic actions budget constraint budget line changes Chapter choose columns commodity consumer coordinate curve da(t db(t defined definition demand rate demanded bundles dichotomy direction dollar dual space elements endowment endowment's equation example feasible action feasible set Figure flow rates Hicksian illustration indifference curves individual behavior infinitely inner product input interpretation L/Qo labor power linear combination linearly independent long-response function marginal utility mathematical matrix maximize utility means measured milk Model money illusion motion law neoclassical theory neoclassical utility theory nonnegative null null vector objective function orthogonal output parameter plane point space positive producer Q/Qo quadratic quadratic form quantities real numbers scalar multiplication short-response function Slutsky equation steepest constrained ascent subset Suppose testable results Theorem tion tuna utility function utility maximization utility theory utility-maximizing variable vector space widgets zero