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Economic Fables Paperback – 20 April 2012
by
Ariel Rubinstein
(Author)
Ariel Rubinstein
(Author)
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Product details
- Publisher : Open Book Publishers (20 April 2012)
- Language : English
- Paperback : 264 pages
- ISBN-10 : 1906924775
- ISBN-13 : 978-1906924775
- Dimensions : 12.85 x 1.4 x 19.84 cm
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Best Sellers Rank:
450,726 in Books (See Top 100 in Books)
- 345 in Microeconomics (Books)
- 391 in Biographies of Social Scientists & Psychologists (Books)
- 67,481 in Social Sciences (Books)
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4.3 out of 5 stars
4.3 out of 5
23 global ratings
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Mr A. Bullen
5.0 out of 5 stars
A highly accessible and academic overview of economic thinking
Reviewed in the United Kingdom on 18 April 2017Verified Purchase
I am a third year student of economics at UEA where this book was suggested by my lecturer of microeconomics. I found it both informative and highly interesting. The book offers a unique and refreshing approach to economic models in an extremely clear and easy to follow style. There are also some well written and interesting autobiographical sections which are a welcome break from the economic theory. The book is appropriate for anyone interested in economics and does not require you to be a student of economics to understand and enjoy.
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Twist Barbie
5.0 out of 5 stars
Fascinating biography/economics book
Reviewed in the United Kingdom on 30 September 2014Verified Purchase
I bought this short book on the basis of a recommendation on Diane Coyle's blog http://www.enlightenmenteconomics.com/blog/ where she chose it as her book of the year for 2012. It's difficult to describe: part biography, part series of lectures on game theory and the limits of models, and a few other things as well. Probably best if you find the review on Diane's blog.

AAW Pepper
5.0 out of 5 stars
Brilliant
Reviewed in the United Kingdom on 8 November 2012Verified Purchase
This small book gives some brilliant insights into economic thinking, written by a brilliant man. Very accessible to readers from all backgrounds

Dalmo Moreira Jr.
4.0 out of 5 stars
Boa qualidade
Reviewed in Brazil on 4 June 2020Verified Purchase
Produto de boa qualidade com ótimo tamanho, permitindo um uso confortável do mouse.

C. R. Palma
3.0 out of 5 stars
Too narrow a view of economic models
Reviewed in the United Kingdom on 11 November 2014Verified Purchase
The author makes an interesting, albeit highly debatable, point, that economic models are nothing but fables and should not be taken too seriously. I would agree that some models are mostly meant to illuminate a simple idea, therefore realism is not essential. This is true for many of the models used for teaching (naturally) and I would say also for lots of published literature on new theoretical results. However, for positive economic analysis this sort of attitude is unacceptable. Policy impact assessment, for example, is basically useless if modelling is not done properly. There will always be flaws in any models, in Economics as in other areas, but we must continue to strive for improvement so our models can do a better job at forecasting and decision support, which the author does not seem to be very interested in, perhaps because he is a game theorist.
It would be a shame if all economists thought that models are fables and therefore stop trying to actually make them more realistic and more useful. For example, perhaps current DGES models are not great, but we must continue searching for better, as is done in other sciences. Do we continue to use the equilibrium assumption? Would we be better off with massive agent-based simulation models? How should expectations be modelled? These are relevant questions that cannot be so easily dismissed.
At any rate, the book rambles a bit, jumping among seemingly disconnected topics mixed with personal vignettes which occasionally seem beside the point. Hence the 3-star rating.
It would be a shame if all economists thought that models are fables and therefore stop trying to actually make them more realistic and more useful. For example, perhaps current DGES models are not great, but we must continue searching for better, as is done in other sciences. Do we continue to use the equilibrium assumption? Would we be better off with massive agent-based simulation models? How should expectations be modelled? These are relevant questions that cannot be so easily dismissed.
At any rate, the book rambles a bit, jumping among seemingly disconnected topics mixed with personal vignettes which occasionally seem beside the point. Hence the 3-star rating.