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Palgrave Macmillan

Big Players and the Economic Theory of Expectations

  • Book
  • © 2002

Overview

Authors:
  1. Roger Koppl

    1. Fairleigh Dickinson University, Madison, USA

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xv
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. Introduction and Summary

      • Roger Koppl
      Pages 3-21

  3. Methodology

    1. Front Matter

      Pages 23-23
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    2. The Misesian Context

      • Roger Koppl
      Pages 25-39

    3. Schutz

      • Roger Koppl
      Pages 40-55

    4. Hayek

      • Roger Koppl
      Pages 56-70

  4. Theory

    1. Front Matter

      Pages 71-71
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    2. Language Games and Economic Theory

      • Roger Koppl
      Pages 73-95

    3. Expectations

      • Roger Koppl
      Pages 96-119

    4. Big Players

      • Roger Koppl
      Pages 120-138

  5. Applications

    1. Front Matter

      Pages 139-139
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    2. Big Players in Czarist Russia

      • Roger Koppl
      Pages 141-163

    3. The Angular Distribution of Asset Returns in Delay Space

      • Roger Koppl
      Pages 164-183

    4. Herding in Money Demand

      • Roger Koppl
      Pages 184-194

    5. Coda

      • Roger Koppl
      Pages 195-203

  6. Back Matter

    Pages 204-248
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Keywords

About this book

Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory of expectations that assumes people interpret their situations in unpredictable ways. Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary policy interventions create ignorance and uncertainty. The volume uses innovative methods to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.

Reviews

'The research contained... is of a very high level.' - Giampaolo Garzarelli, Journal of Public Finance and Public Choice

Authors and Affiliations

  • Fairleigh Dickinson University, Madison, USA

    Roger Koppl

About the author

ROGER KOPPL is Professor of Economics and Finance at Fairleigh Dickinson University, Madison, USA.

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