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Generalized Microeconomics

Generalized Microeconomics

Hlaváček, JiříHlaváček, Michal

subjects: economics and finance, mathematics and statistics

e-book, 1. edition
published: september 2014
ISBN: 978-80-246-2721-2
e-book formats PDF, epub, mobi
recommended price: 160 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.