image description
# 635468
USD 32.00 (Book Not in Ready Stock, will take 45-60 days to source and dispatch)
- +

Risk, Choice, and Uncertainty : Three Centuries of Economic Decision-Making

Author :  George G. Szpiro

Product Details

Country
United States
Publisher
Columbia University Press
ISBN 9780231194747
Format HardBound
Language English
Year of Publication 2020
Bib. Info 264 p,152 x 229 x 25.4mm
Categories BUSINESS & ECONOMICS,Economic History
Product Weight 522 gms.
Shipping Charges(USD)

Product Description

At its core, economics is about making decisions. In the history of economic thought, great intellectual prowess has been exerted toward devising exquisite theories of optimal decision making in situations of constraint, risk, and scarcity. Yet not all of our choices are purely logical, and so there is a longstanding tension between those emphasizing the rational and irrational sides of human behavior. One strand develops formal models of rational utility maximizing while the other draws on what behavioral science has shown about our tendency to act irrationally. In Risk, Choice, and Uncertainty, George G. Szpiro offers a new narrative of the three-century history of the study of decision making, tracing how crucial ideas have evolved and telling the stories of the thinkers who shaped the field. Szpiro examines economics from the early days of theories spun from anecdotal evidence to the rise of a discipline built around elegant mathematics through the past half century's interest in describing how people actually behave. Considering the work of Locke, Bentham, Jevons, Walras, Friedman, Tversky and Kahneman, Thaler, and a range of other thinkers, he sheds light on the vast scope of discovery since Bernoulli first proposed a solution to the St. Petersburg Paradox. Presenting fundamental mathematical theories in easy-to-understand language, Risk, Choice, and Uncertainty is a revelatory history for readers seeking to grasp the grand sweep of economic thought.

Product added to Cart
Copied