It is easy to take potshots at the field of economics today, whether motivated by the financial crisis or the fact that Nobel laureates, such as economist and New York Times columnist Paul Krugman, ...

For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...

This thesis critiques neoclassical economic theory. In each chapter, with the exception of the last two, I will examine a different neoclassical theory and reveal its lack of realism, and how said ...

A simple idea from game theory could yet upset the sacred tenants of neoclassical economics. This articles explores the implications for the theory of distribution and Keynes's theory of effective ...

Conventional economic theory does a fair job of predicting prices in simple buying and selling transactions. But it fails to account for the influence of traders' experience on a market's efficiency ...