What are the challenges of moving from individual behavior to aggregate outcomes?

Apr 16, 2025 ... Neoclassical Economics: Later, economists refined these notions using mathematical models, emphasizing that markets operate optimally when ... Practical economists who could not ignore the bouts of unemployment which had plagued capitalism since its inception talked of the neoclassical synthesis: using ... Neoclassical economists argue that behavioral biases cannot survive in competitive markets and question the relevance of behavioral insights for economic policy ... Oct 22, 2024 ... PDF | For a research program that counts improved empirical realism among its primary goals, it is surprising that behavioral economics ... for the relevance of any theory. Moreover, neoclassical research is typically narrowed to questions that are accessible to mathematical modelling; content ... Informational Directory for Heterodox Economists ... Keynesian economics, institutional economics, economic history, and mainstream neoclassical economics. Aug 27, 2012 ... Pingback: Economists This Week: What is neoclassical economics? ... informational assumptions underlying formal models. There is a lot ... ... economics,” which provides a new way of assessing and reconciling (albeit partially) the growing conflict between conventional or neoclassical economics ... Apart from his research on asymmetric information, Akerlof has developed economic theory with insights from sociology and social anthropology. His most ... Postlewaite (1993): “Finite Bubbles with Short Sale Constraints and Asymmetric Information,” Journal of Economic Theory, 61, 206–229. Brunnermeier, M. K. (2001): ...