Identifiant pérenne de la notice : 209085991
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Note publique d'information : Classical microeconomics is intended to explain how a price system is able to coordinate
the economic agents. But even if it can be extended to incomplete information and
externalities, it remains grounded on very heroic assumptions. Agents are endowed
with a very strong rationality, equilibrium is stated without a concrete process to
achieve it, market is the unique institution considered. Evolutionary microeconomics
is aimed at bypassing these limitations by considering a dynamic approach, however
not biologically oriented. Agents have local information and bounded rationality,
they are involved in explicit processes of interactions through time, various institutions
sustain the market or substitute to it. It explains then some phenomena hardly explained
by classical microeconomics: dispersion of prices, variety of industrial structures,
financial bubbles.
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