Uncertainty, Expectations, and Financial Instability: Reviving Allais's Lost Theory of Psychological Time Format:Hardcover a prominent social anthropologist

a prominent social anthropologist

or they will have only idle curiosity concerning what the preacher will make of the text

and more or less everything under the sun

ISBN-13: 9780125060417

Uncertainty, Expectations, and Financial Instability: Reviving Allais's Lost Theory of Psychological Time Format:Hardcover a prominent social anthropologistEric Barthalon applies the neglected theory of psychological time and memory decay of Nobel Prize winning economist Maurice Allais (1911 2010) to model investors' psychology in the present context of recurrent financial crises. Shaped by the behavior of the demand for money during episodes of hyperinflation, Allais's theory suggests economic agents perceive the flow of clocks' time and forget the past at a context dependent pace: rapidly in the