Modeling Rational Agents: From Interwar Economics to Early Modern Game Theory

By Nicola Giocoli

Exploring the evolution, through the first half of the 20th century, of the key neoclassical concept of rationality, this book begins with the development of modern decision theory, covers the interwar debates over the role of perfect foresight and analyses the first game-theoretic solution concepts of von Neumann and Nash. profound transformation that reduced it to a formal property of consistency. Such a transformation paralleled that of neoclassical economics as a whole from a discipline dealing with real economic processes to one investigating issues of logical consistency between mathematical relationships.

• Format: Hardcover
• Language: English
• ISBN: 1840648686
• ISBN13: 9781840648683
• Release Date: August 2003
• Publisher: Edward Elgar Publishing
• Length: 480 Pages
• Weight: 1.90 lbs.
• Dimensions: 9.3" x 1.3" x 6.5"