Publication
Jun 2008
This publication develops a methodology for examining social interactions in a business climate that challenges conventional notions of rational-based behavior. A stochastic model of social interactions forms the basis of the analysis in conjunction with simulation experiments. The author argues the theory of animal spirit proves to be a significant alternative to rational explanations of swings in consumer opinions and behavior.
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English (PDF, 40 pages, 718 KB) |
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Author | Thomas Lux |
Series | Kiel Institute Working Papers |
Issue | 1424 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2008 Kiel Institute for the World Economy. |