Uneconomic Economics and the Crisis of the Model World
Buch in deiner Nähe kaufen
Beschreibung
What has gone wrong with economics? Economists now routinely devise highly sophisticated abstract models that score top marks for theoretical rigour but are clearly divorced from observable activities in the current economy. This creates an 'uneconomic economics', where models explain relationships in blackboard rather than real-life markets.
Autor*in
M. Watson
Themen in »Uneconomic Economics and the Crisis of the Model World«
Arrow-Debreu Black-Scholes CDO David Li EMH Guassian copula formula MBS Schumpeterian Vision Walrasian economics austerity collateralised debt obligations crisis crisis construction dynamic stochastic general equilibrium economic theory