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Methodology for a New Microeconomics : the Critical Foundations.

Author: Lawrence A Boland
Publisher: Abingdon, Oxon ; New York : Routledge, Taylor & Francis Group, 2014.
Series: Routledge revivals.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Boland, Lawrence A.
Methodology for a New Microeconomics (Routledge Revivals) : The Critical Foundations.
Hoboken : Taylor and Francis, ©2014
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Lawrence A Boland
ISBN: 9781317680901 1317680901 1306855748 9781306855747
OCLC Number: 881416679
Notes: 11. Learning Methodology and the Equilibrium Process: A Murky Mews.
Description: 1 online resource (202 pages).
Contents: Cover; Title Page; Copyright Page; Original Title Page; Original Copyright Page; Dedication; Table of Contents; Acknowledgements; Preface; Introduction: On the Foundations of Comparative Statics; 1. Equilibrium and Explanation; 2. Equilibrium Implies Disequilibrium Dynamics; 3. The Hidden Agenda of Comparative Static Methodology; 4. An Outline of the Book; Part I: The Economics of Sub-optimal Economies; 1. The State of Equilibrium as an Optimum; 1. Methodological Individualism and Equilibrium Methodology; 2. General Equilibrium and Psychologism; 3. An Equilibrium as a Necessary Optimum. 4. A Disequilibrium State as a Sub-optimum2. Optimization vs. Equilibrium; 1. Sub-optimality as Equilibrium: Externalities vs. Market Failures; 2. Sub-optimality as Market Failure; 3. Disequilibrium as Optimality; 4. Disequilibrium as Information Optimality; 5. Methodological Costs/Benefits of Invisible Equilibrium Prices; Part II: Foundations of Equilibrium Methodology; 3. Individualism and Differential Calculus; 1. Long-run General Equilibrium and Individualism; 2. Varieties of Individualism in Economic Theory; 3. The Long-run Equilibrium as a Special Short-run Equilibrium. 4. Methods of Explaining Disequilibrium States1. Critiques of Partial Equilibrium Explanations; 2. Disequilibrium vs. Individualism; 5. Proofs vs. Conjectures in Analytical Economics; 1. The Problem of the Integral vs. the Differential; 2. Equivalence of Set Theory and Calculus Analysis; 3. Continuity vs. Connectedness in Choice Theory; 4. Continuity, Convexity, Uniqueness and Choice Theory; 5. Infinity and Induction in Analytical Economics; 6. Proofs and Conjectures; Part III: Limits of Equilibrium Methodology; 6. Equilibria and Teleological Statics. 1. Exogenous Variables and Teleological Comparative Statics2. Hayek's Contingent Equilibria; 3. Calculus of Variations, Dynamic Programming, Control Theory, etc.; 4. Mechanical Solutions vs. Learning; 7. Equilibria vs. Equilibrium Processes; 1. Equilibrium and Theories of Knowledge; 2. Equilibrium and Theories of Ignorance; 3. Responding to Disequilibrium Awareness; 4. Learning vs. Knowing the Equilibrium Price; 8. Against Macroeconomics as Defeatist Microeconomics; 1. Macroeconomics and Rational Expectations; 2. Stochasticism and Macroeconomics; 3. Stochasticism as Instrumentalism. Part IV: Avenues for a New Microeconomics of Non-Equilibria9. Ad Hoc Theorizing about Price Dynamics: A Slippery Slope; 1. The Analytical Problem of Price Adjustment; 2. Ad Hoc Closure of the Analytical Equilibrium Model; 3. Toward Closure through Ad Hoc Ignorance; 4. Exogenous Convergence with Forced Learning; 5. Endogenous Convergence with Autonomous Learning; 10. Ad Hoc Theorizing about Non-clearing Markets: A Rocky Road; 1. Exogenously Unintentional Disequilibria; 2. Deliberate Disequilibria: Keynes-Hicks Generalized Liquidity; 3. Methodological Individualism vs. Deliberate Disequilibria.
Series Title: Routledge revivals.

Abstract:

First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains t.

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