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Knowledge, Beliefs and Economics

Edited by Richard Arena, Professor of Economics, University of Nice–Sophia Antipolis and GREDEG – UMR 7321 and Agnès Festré, Professor of Economics, University of Picardie Jules Verne/CRIISEA, University of Nice–Sophia Antipolis and GREDEG – UMR 7321, France
This book surveys how economists engage with knowledge and beliefs in various fields of economic analysis, such as general equilibrium theory, decision theory, game theory, experimental economics, evolutionary theory of the firm, financial markets and the history of economic thought.
Extent: 288 pp
Hardback Price: $136.00 Web: $122.40
Publication Date: 2006
ISBN: 978 1 84376 405 2
Availability: In Stock
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This book surveys how economists engage with knowledge and beliefs in various fields of economic analysis, such as general equilibrium theory, decision theory, game theory, experimental economics, evolutionary theory of the firm, financial markets and the history of economic thought.

The contributors to this book also suggest the need for a more integrated perspective on the meaning, as well as the role, of knowledge and beliefs in economics in the future. Possible lines of future research, such as the extension of the concept of rationality in economics or the focus on cognitive processes in economic action, are discussed.

A platform for future research and investigation into the role of knowledge and beliefs in economics, this book will be of great appeal to advanced scholars interested in cross-fertilization between different fields of the social sciences and also to post-graduate students interested in the lines of research suggested in the book.
Contributors: R. Arena, R. Boudon, P. Cohendet, M. Diani, A. Festré, R. Guesnerie, B.J. Loasby, S. Ngo-Maï, M. Novarese, A. Orléan, A. Raybaut, S. Rizzello, C. Schmidt, J.-M. Tallon, J.-C. Vergnaud, B. Walliser
Contents:

1. Introduction
Richard Arena and Agnès Festré

PART I: KNOWLEGDE AND BELIEFS IN THE HISTORY OF ECONOMIC ANALYSIS: MARSHALLIANS, AUSTRIANS AND WALRASIANS
2. Expectations, Uncertainty and Beliefs in Marshallian and Post-Marshallian Analyses of Economic Systems
Brian J. Loasby

3. Knowledge and Beliefs in Economics: The Case of the Austrian Tradition
Richard Arena and Agnès Festré

4. General Equilibrium, Co-ordination and Multiplicity on Spot Markets
Roger Guesnerie

PART II: KNOWLEDGE AND BELIEFS IN GAME THEORY
5. Justifications of Game Theoretic Equilibrium Notions
Bernard Walliser

6. Game Theory and Players’ Beliefs on the Play
Christian Schmidt

PART III: BELIEFS AND DECISION THEORY
7. Beliefs and Dynamic Consistency
Jean-Marc Tallon and Jean-Christophe Vergnaud

8. Utility or Rationality? Restricted or General Rationality?
Raymond Boudon

PART IV: KNOWLEDGE, BELIEFS AND COGNITIVE ECONOMICS
9. The Cognitive Turning Point in Economics: Social Beliefs and Conventions
André Orléan

10. A Cognitive Approach to Individual Learning: Some Experimental Results
Marco Novarese and Salvatore Rizzello

PART V: AGENTS, COMMUNITIES AND COLLECTIVE BELIEFS
11. Consumer Communities, Self-organization and Beliefs
Stéphane Ngo-Maï and Alain Raybaut

12. Informal Communication, Collective Beliefs and Corporate Culture: A Conception of the Organization as a ‘Community of Communities’
Patrick Cohendet and Morad Diani

Index