Bounded rationality and animal spirits: a fluctuation-response approach to Slutsky matrices
The Slutsky equation, central in consumer choice theory, is derived from the usual hypotheses underlying most standard models in Economics, such as full rationality, homogeneity, and absence of interactions. We present a statistical physics framework that allows us to relax such assumptions. We firs...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
IOP Publishing
2023-01-01
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| Series: | Journal of Physics: Complexity |
| Subjects: | |
| Online Access: | https://doi.org/10.1088/2632-072X/acb0a7 |