Becker Economies, i.e., Microeconomics Based on Random Choice within Constraints
Last update: 12 Apr 2025 11:01First version: 12 April 2025
Having written a fairly long blog post about the idea, I will not elaborate here, but just refers to that, and collect references here.
- Recommended:
- Gary Becker, "Irrational Behavior in Economic Theory", Journal of Political Economy 70 (1962): 1--13
- Jason Smith, A Random Physicist Takes on Economics
- To read:
- Jerome Garnier-Brun, Jean-Philippe Bouchaud, Michael Benzaquen, "Bounded Rationality and Animal Spirits: A Fluctuation-Response Approach to Slutsky Matrices", arxiv:2206.04468
- Dhananjay K. Gode, Shyam Sunder, "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality", The Journal of Political Economy 101 (1993): 119--137 [JSTOR. I know I read this in grad school, but I don't remember it at all...]
