Imperfect Knowledge Economics by Roman Frydman
Posing a challenge to economic orthodoxy, this title asserts that exact models of purposeful human behavior are beyond the reach of economic analysis. It argues that longstanding empirical failures of conventional economic models stem from their futile efforts to make exact predictions about the consequences of rational, self-interested behavior.
"[T]he challenge that existing economic orthodoxy may find most disconcerting is Imperfect Knowledge Economics (IKE), the name of a path-breaking recent book"--Anatole Kaletsky, The Times (London) "... sets out an alternative approach to prediction, in which the forecaster recognizes that his model will inevitably be less than perfect."--The Economist "A new book ... coins the phrase "imperfect knowledge economics" to describe this world of fundamental uncertainty."--Finanical Times "A new conceptual framework--Imperfect Knowledge Economics (IKE)--provides the rationale for policy intervention in asset markets, and also has important implications for how regulators should measure and manage systemic financial risk."--Edmund Phelps, Guardian.co.uk
Roman Frydman is professor of economics at New York University and the coauthor or coeditor of many books, including "Individual Forecasting and Aggregate Outcomes: "Rational Expectations" Examined". Michael D. Goldberg is associate professor of economics at the University of New Hampshire. His articles on international finance and macroeconomics have appeared in "Economic Journal" and "Journal of International Money and Finance".
| SKU | Unavailable |
| ISBN 13 | 9780691121604 |
| ISBN 10 | 0691121605 |
| Title | Imperfect Knowledge Economics |
| Author | Roman Frydman |
| Condition | Unavailable |
| Binding Type | Hardback |
| Publisher | Princeton University Press |
| Year published | 2007-09-02 |
| Number of pages | 368 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |