Jump to ContentJump to Main Navigation
Equilibrium Models in EconomicsPurposes and Critical Limitations$
Users without a subscription are not able to see the full content.

Lawrence A. Boland

Print publication date: 2017

Print ISBN-13: 9780190274320

Published to Oxford Scholarship Online: May 2017

DOI: 10.1093/acprof:oso/9780190274320.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 January 2020

Epilogue

Epilogue

Prospects for changing equilibrium model building practice in economics

Chapter:
(p.229) Epilogue
Source:
Equilibrium Models in Economics
Author(s):

Lawrence A. Boland

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190274320.003.0017

This chapter considers whether new efforts provided by behavioural, evolutionary and complexity economics have any chance of changing how economics is taught and practiced in the future. The main question at issue is whether the new views based on experimental behavioural, evolutionary and complexity models have any hope of displacing textbook equilibrium economic explanations. The prognosis is they do not at the introductory level, but perhaps might at the advanced undergraduate and the graduate levels. The chapter concludes by stressing the need to understand the role of learning in the process of equilibrium attainment if equilibrium models are ever to be useful for understanding real world economies and guiding policy makers.

Keywords:   behavioural economics, evolutionary economics, complexity economics, experimental economics, teaching economics

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .