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The Evolutionary Invisible Hand
The Problem of Rational Decision-Making and Social Ordering over Time
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The book introduces a novel theoretical framework for understanding economic phenomena over time, emphasizing the importance of individual portfolios of goods in satisfying needs. It modifies the traditional theory of subjective value by proposing that satisfaction arises from the overall portfolio rather than individual goods. This approach addresses the limitations of previous theories that struggled with changing value contexts over time. Additionally, it anchors this modification in an evolutionary perspective, enhancing the applicability of economic analysis over time.
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The Evolutionary Invisible Hand, Matúš Pošvanc
- Language
- Released
- 2021
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- (Hardcover)
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- Title
- The Evolutionary Invisible Hand
- Subtitle
- The Problem of Rational Decision-Making and Social Ordering over Time
- Language
- English
- Authors
- Matúš Pošvanc
- Publisher
- Springer International Publishing
- Released
- 2021
- Format
- Hardcover
- Pages
- 316
- ISBN13
- 9783030717995
- Category
- Philosophy, Business and Economics
- Description
- The book introduces a novel theoretical framework for understanding economic phenomena over time, emphasizing the importance of individual portfolios of goods in satisfying needs. It modifies the traditional theory of subjective value by proposing that satisfaction arises from the overall portfolio rather than individual goods. This approach addresses the limitations of previous theories that struggled with changing value contexts over time. Additionally, it anchors this modification in an evolutionary perspective, enhancing the applicability of economic analysis over time.