Rationality-Individualism-Equilibrium Nexus

Home/Rationality-Individualism-Equilibrium Nexus

The term rationality-individualism-equilibrium nexus refers to a set of assumptions about economic actors and markets that is foundational to standard economic theory. It includes the assumptions that, agents are rational choice makers, that they act individually and that free markets will result in an equilibrium between supply and demand.

2016-10-14T22:47:17+00:00