Micro motives and macro behaviour

    Project: Research project

    Description

    All economic action involves interaction among individuals. Moreover,
    most of these interactions have a primarily social character. We talk
    with friends, we ask others for advice, we arrange to meet people, we
    work together with colleagues, we live next to neighbours. This
    thesis takes a closer analytical look at the issue of social
    interaction in relation with the decision-making of individuals.
    Inspired by ideas from evolutionary game theory, learning theory, and
    models of bounded rationality it considers three main topics:
    problems of coordination, economic effects of rumours, and
    behavioural consequences of regret. The study demonstrates in
    particular how both individual decision-making and social interaction
    affect not only the behaviour of individuals in an economy but also,
    via the system of interaction, the aggregate behaviour of the economy
    itself.
    Short titleMicro motives and macro behaviour
    StatusFinished
    Effective start/end date1/01/9730/06/99