Theories of Technical Change and Investment: Riches and Rationality

by Chidem Kurdas

Overview

'Technology is becoming ever more widely recognised as the crucial element in the explanation of economic growth and business fluctuations. Yet the relationship between investors' rationality and investment strategy remains ill understood, and is often constructed in contradictory fashion. Chidem Kurdas's lucid exploration of the problem provides the basis for a synthesis that should prove extremely useful: it is the most original book if its kind that I know.' Professor Heilbroner, The New School for Social Research, New York What is involved in the rational calculation behind the decision to invest and innovate? This book compares the different answers given to this question, from the early classics to recent new classical and new institutionalist models, in a both rigorous and accessible way.

Product Details

ISBN-13:	9780333558287
Publisher:	Palgrave Macmillan UK
Publication date:	07/19/1994
Edition description:	1994
Pages:	161
Product dimensions:	5.51(w) x 8.50(h) x (d)

Table of Contents

Introduction - The Classics: Diverse Behavioral Assumptions - Keynes & the Post-Keynesians: Arbitrary Expectations - Neoclassical Models: Unbounded Rationality - Neoinstitutionalism: Bounded Rationality - Summing Up - Bibliography - Index