How is the increasing availability of data and computing power affecting neoclassical economics?

normative than the neoclassical economics assumptions of rational economic agents and ... research as neoclassical because such a broad definition of ... Jul 2, 2008 ... major element of standard neoclassical economics‖ (1992, p. ... Other Theorems of Institutional Economics,' Journal of Labor Research, 29. (Spring) ... The information economics approach did not supplant the neoclassical model but rather extended it to include an explicit analysis of how information ... This research focuses on testing Mexicans' economic and non-economic motivations to migrate ... neoclassical economics and the social capital theory. First, ... Apr 1, 2017 ... Neoclassical economics posits a direct relationship between the object and the choice made. But in behavioral economics, the choice depends on ... Apr 8, 2010 ... In this paper, we study how such information spillovers impact the incentives that agents face when making their real economic decisions. Jan 20, 2025 ... Environmental economists have attempted to integrate ecological concerns into the neoclassical framework by putting a monetary value on ... 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 ... Jul 20, 2006 ... In short, the economics benchmark statement seemingly enshrines neoclassical economic theory as the only economic theory to teach ... That is, market prices synthetize a huge amount of information dispersed throughout the economy and hence coordinates economic activity vastly beyond the narrow ...