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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

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summary

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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