Economists prefer simple algorithms but these are not up to the job. The simple supply-demand methodology based on pop psychology (rational choice theory, rational maximization) has shown itself to be inadequate for the reasons that heterodox economists point out.
And complex algorithms are, well, complex. So there is as yet no alternative theoretical framework based on a more realistic method.
The Radford Free Press
The Information Conundrum
Peter Radford
The Radford Free Press
The Information Conundrum
Peter Radford
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