Models of Individual Decision Making in Economics
| Author: | Mgr. Michal Skořepa |
|---|---|
| Year: | 1995 - summer |
| Leaders: | prof. RNDr. Jiří Hlaváček CSc. |
| Consultants: | |
| Work type: | Economic Theory Masters |
| Language: | Czech |
| Pages: | 76 |
| Awards and prizes: | M.A. with distinction from the Dean of the Faculty of Social Sciences for an extraordinarily good masters diploma thesis |
| Link: | |
| Abstract: | Within many current economic theories, we find quite a few models of the way an individual decides. These models start from various assumptions and emphasise various aspects of the individual's decision making process. In the present thesis, selected models of this type are described - in particular, search models, models of expectation formation, the model of maximisation of a criterial function with constraints and the model of bounded rationality. The thesis thus covers models of decision making under certainty, under risk as well as under uncertainty. For the description, a unified terminology was selected, which makes relations between various models more salient. A lot of attention is devoted to the question of how informed the individual is. The thesis should be valuable for research, as its unified terminology uncovers linkages among various models and the roomfor their further development. It should be valuable for didactic purposes as well, since it is the first text in Czech explaining a number of models of individual decision making. Keywords: individual decision making, psychology, information, search, expectation, utility, uncertainty, bounded rationality JEL Classification: D1, D8 |
| Downloadable: | Diploma Thesis - Skořepa |
