Equilibrium Models in Economics
Purposes and Critical Limitations
Lawrence A. Boland
Reviews and Awards
Â"Equilibrium Models in Economics is a trenchant exploration of how the discipline has grappled with attempts to understand and explain the way information, knowledge, and the expectations of actors participating in the economy influence outcomes and behavior. It presents a realistic, workable theory of knowledge and learning, simulating how decision makers and other actors operate in fast-changing equilibrium conditions." -- MathSciNet
"Too often these days, students of economics are simply taught techniques, without being trained to question basic assumptions. Lawrence Boland's book helps to fill that vital gap. Written by a well-established philosopher of economics, it probes the basic equilibrium apparatus of mainstream theory. Both students of economics and established scholars will find lots of very interesting and useful questions here." -- Geoffrey Hodgson, Research Professor, Hertfordshire Business School, University of Hertfordshire, UK
"Lawrence Boland is one of the most lucid authors when it comes to methodology in economics. His new book is no exception. It offers profound insights on the explanatory potential and limitations of the theory of market equilibria. Every student of economics should early on be confronted with Boland's challenging discussion." -- Ulrich Witt, Professor of Economics, Max Planck Institute of Economics Jena, Germany