What Kind of Economics Should We Teach?
What Kind of Economics Should We Teach?
What Kind of Economics Should We Teach?
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5. The hole in the middle<br />
<strong>What</strong> kind <strong>of</strong> economics should we teach?<br />
complete<br />
Extent <strong>of</strong><br />
knowledge and<br />
deliberative<br />
(rational)<br />
consideration <strong>of</strong> the<br />
(rational)<br />
deliberation and<br />
knowledge <strong>of</strong> other<br />
individual actors<br />
absent<br />
logicall<br />
y<br />
empty<br />
simple<br />
monopoly<br />
one two<br />
the realm <strong>of</strong> game theory<br />
imperfect competition<br />
without strategic interaction<br />
rational expectations<br />
modeling<br />
perfect<br />
competition<br />
many<br />
Minimum number <strong>of</strong> actors<br />
16<br />
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