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Book details
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Author : Itzhak Gilboa
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Pages : 176 pages
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Publisher : The MIT Press 2010-03-26
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Language : English
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ISBN-10 : 0262014009
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ISBN-13 : 9780262014007
Book Synopsis
This book offers a rigorous, concise, and nontechnical introduction to some of the fundamental insights of rational choice theory. It draws on
formal theories of microeconomics, decision making, games, and social choice, and on ideas developed in philosophy, psychology, and
sociology. Itzhak Gilboa argues that economic theory has provided a set of powerful models and broad insights that have changed the way we
think about everyday life. He focuses on basic insights of the rational choice paradigm--the general conceptualization rather than a particular
theory--that survive recent (and well-justified) critiques of economic theory s various failures. Gilboa explains the main concepts in language
accessible to the nonspecialist, offering a nonmathematical guide to some of the main ideas developed in economic theory in the second half of
the twentieth century. Chapters cover feasibility and desirability, utility maximization, constrained optimization, expected utility, probability and
statistics, aggregation of preferences, games and equilibria, free markets, and rationality and emotions. Online appendixes offer additional
material, including a survey of relevant mathematical concepts.