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Generalized Microeconomics

Generalized Microeconomics

Hlaváček, Jiří Hlaváček, Michal

subjects: economics and finance, mathematics and statistics

, 208 pp., 1. edition
published: february 2012
ISBN: 978-80-246-2024-4
recommended price: 250 czk



The generalization of microeconomics (maximization of probability of agent's survival) enabled model description of economic rationality even in the fields, where profit maximization is not suitable, like redistribution, non-profit sector, both positive and negative externalities, centrally planned economy etc. When profit criterion is adequate, the general criterion is identical with profit maximization.

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