In the theoretical framework of General Equilibrium Theory, agents's cognitive abilities do not go beyond mere calculation. In the Austrian perspective, on the contrary, agents are endowed with evaluation skills which make them capable of making real entrepreneurial choices. In this paper we propose a modification of the assumptions on rational behavior to account for evaluation processes: this allows us to provide a solution to the problem of general stability of General Equilibrium Theory.
Equilibrio, stabilità e profitto: Una ricostruzione austriaca / Filoso, Valerio. - STAMPA. - (2011), pp. 230-237.
Equilibrio, stabilità e profitto: Una ricostruzione austriaca
FILOSO, VALERIO
2011
Abstract
In the theoretical framework of General Equilibrium Theory, agents's cognitive abilities do not go beyond mere calculation. In the Austrian perspective, on the contrary, agents are endowed with evaluation skills which make them capable of making real entrepreneurial choices. In this paper we propose a modification of the assumptions on rational behavior to account for evaluation processes: this allows us to provide a solution to the problem of general stability of General Equilibrium Theory.File in questo prodotto:
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