Economic Fables"I had the good fortune to grow up in a wonderful area of Jerusalem, surrounded by a diverse range of people: Rabbi Meizel, the communist Sala Marcel, my widowed Aunt Hannah, and the intellectual Yaacovson. As far as I'm concerned, the opinion of such people is just as authoritative for making social and economic decisions as the opinion of an expert using a model." Part memoir, part crash-course in economic theory, this deeply engaging book by one of the world's foremost economists looks at economic ideas through a personal lens. Together with an introduction to some of the central concepts in modern economic thought, Ariel Rubinstein offers some powerful and entertaining reflections on his childhood, family and career. In doing so, he challenges many of the central tenets of game theory, and sheds light on the role economics can play in society at large. Economic Fables is as thought-provoking for seasoned economists as it is enlightening for newcomers to the field. |
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academic accept according action algorithm allocation alternative Amos Tversky argument Ariel Rubinstein asked assets assume assumption of rationality bargaining Beach Beautiful Mind behavior called chapter choice chose competitive equilibrium cycle decision problem describe economic game economic models economic theory economists example experts support fact father foreign workers Forest formal models game theory hand hider homestead individuals interdisciplinary realms interested Israel Israeli Jerusalem Jewish John Nash jungle economy jungle equilibrium jungle tale lecture less mathematical mixed strategy Nash equilibrium Nightclub offer outcome Pareto efficiency participants perfect equilibrium person perspective persuasion situation physicians player chooses possible predict preferences presented probability questions receive residents respondents result rule of persuasion seeker social society solution concept someone strategy string support the petitioner symmetric equilibrium tailors Tomb trader Traveler's Dilemma Tversky Ultimatum Game Vineyard weaker words