How do neoclassical economists explain the emergence and evolution of legal and political institutions?

... informational considerations become central. A modelling strategy that ... neoclassical economics and viewed from a self-organisational perspective. It ... Stock markets must be characterized by imperfect information, so long as information is costly; there is, as Grossman and Stiglitz (1980a) put it, an ... Neoclassical economics is the study of optimal choice under conditions of scarcity. ... How Do Informational Prompts Affect Choices in the School Lunchroom? Jul 21, 2014 ... One response to this research is for employers to change their defaults from non-participation to participation in retirement savings accounts ... Apr 8, 2017 ... In each case, the research endeavour involved challenges to the assumptions and methods of the same neoclassical economic theory that Arrow had ... Nov 6, 2024 ... Most research in finance and economics—whether for factors, asset allocation, or anomalies—relies on daily, monthly, or quarterly data. For most ... What both Marx (2013) and the neoclassical economists` definitions of the ... data, communication technologies and information driven economic system dominated by ... Information asymmetry is in contrast to perfect information, which is a key assumption in neo-classical economics. In 1996, a Nobel Memorial Prize in Economics ... The theory also believes that because people make decisions based on the available information ... and the neoclassical revolution in economics.1. The Influence ... Apr 7, 2025 ... Going beyond neoclassical economic theory, Nelson and Winter (1985) described consequences of dynamic processes of innovation in ...