Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory … economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary … economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional …

This volume addresses the subject of uncertainty from the point of view of an extended conception of rationality. In …

This book challenges the generally accepted theories of classical economics, explaining why the expected utility theory …

Economists’ “Irrational Passion for Dispassionate Rationality” -- The Methodological Constraints on the Rationality … Premise -- Human Motivation and Adam Smith’s “Invisible Hands” -- Rationality in Economic Thought: From Thomas Robert Malthus … to Alfred Marshall and Philip Wicksteed -- Rationality in Economic Thought: Frank Knight, Ludwig von Mises, Friedrich …