Evolutionary Microeconomics

  • Jacques Lesourne
  • André Orléan
  • Bernard Walliser

Table of contents

  1. Front Matter
    Pages I-IX
  2. La formation des grandeurs économiques:déséquilibre et instabilité

    1. Pages 1-9
  3. The basic concepts

    1. Front Matter
      Pages 11-11
    2. Pages 13-42
    3. Pages 43-66
    4. Pages 67-112
  4. The markets

    1. Front Matter
      Pages 113-113
    2. Pages 131-172
  5. The institutions

    1. Front Matter
      Pages 201-201
    2. Pages 203-235
  6. Back Matter
    Pages 291-296

About this book


Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these limitations by considering a dynamic approach, however not biologically oriented. Agents have local information and bounded rationality, they are involved in explicit processes of interactions through time, various institutions sustain the market or substitute to it. It explains then some phenomena hardly explained by classical microeconomics: dispersion of prices, variety of industrial structures, financial bubbles.


Action Bounded Rationality Evolution Evolutionary Economics Evolutionary Microeconomics Institution Interaction Learning Microeconomics Passing agents

Authors and affiliations

  • Jacques Lesourne
    • 1
  • André Orléan
    • 2
  • Bernard Walliser
    • 3
  1. 1.Conservatoire National des Arts et MétiersParisFrance
  2. 2.Paris-Jourdan Sciences Economiques (PSE)ParisFrance
  3. 3.Ecole Nationale des Ponts et ChausséesParisFrance

Bibliographic information