Market Competition and Selection
نویسندگان
چکیده
Most economic models make use of extreme rationality hypotheses: firms maximize profits with full knowledge of their technology and prices, and, investors are subjective expected utility maximizers whose beliefs are correct. Surely, some firms and some investors do not always behave as these models hypothesize. But does this matter for predictions of market outcomes? It could be that the aggregation that takes place in supply and demand results
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تاریخ انتشار 2007