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The Future of Microeconomic Theory

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Author Info
Beth Allen
Abstract

The question of what constitutes good economic theory is analyzed. Current good and bad aspects of its methodologies are discussed. Interdisciplinary work that goes beyond the social sciences is advocated. The future predictions are presented concerning research in game theory and the economics of information. Finally, the importance of technology and the need for microeconomists to understand it better are argued.

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Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 14 (2000)
Issue (Month): 1 (Winter)
Pages: 143-150
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Handle: RePEc:aea:jecper:v:14:y:2000:i:1:p:143-150

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Prescott, Edward C, 1998. "Needed: A Theory of Total Factor Productivity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 525-51, August.
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  2. Barro, Robert J, 1980. "A Capital Market in an Equilibrium Business Cycle Model," Econometrica, Econometric Society, vol. 48(6), pages 1393-1417, September. [Downloadable!] (restricted)
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  3. Zhao, Jingang, 1992. "The hybrid solutions of an N-person game," Games and Economic Behavior, Elsevier, vol. 4(1), pages 145-160, January. [Downloadable!] (restricted)
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  4. Forges, Francoise M, 1986. "An Approach to Communication Equilibria," Econometrica, Econometric Society, vol. 54(6), pages 1375-85, November. [Downloadable!] (restricted)
  5. Allen, Beth, 1991. "Choosing R&D Projects: An Informational Approach," American Economic Review, American Economic Association, vol. 81(2), pages 257-61, May. [Downloadable!] (restricted)
  6. Allen, Beth, 1990. "Information as an Economic Commodity," American Economic Review, American Economic Association, vol. 80(2), pages 268-73, May. [Downloadable!] (restricted)
  7. Holmes, Thomas J & Schmitz, James A, Jr, 1995. "On the Turnover of Business Firms and Business Managers," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 1005-38, October. [Downloadable!] (restricted)
  8. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April. [Downloadable!] (restricted)
  9. Robert E. Lucas Jr., 1978. "On the Size Distribution of Business Firms," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 508-523, Autumn. [Downloadable!] (restricted)
  10. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March. [Downloadable!] (restricted)
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  11. Kohlberg, Elon & Mertens, Jean-Francois, 1986. "On the Strategic Stability of Equilibria," Econometrica, Econometric Society, vol. 54(5), pages 1003-37, September. [Downloadable!] (restricted)
  12. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Eric Howe & Jingang Zhao, 2004. "Merger Incentives and Inverse Matrices from Bertrand Competition," Econometric Society 2004 North American Summer Meetings 586, Econometric Society. [Downloadable!]
  2. Urs W. Birchler, 2000. "Are banks excessively monitored?," Working Papers 00.14, Swiss National Bank, Study Center Gerzensee. [Downloadable!]
  3. Jingang Zhao, 2001. "Stable Market Structure and Sufficient Conditions for Horizontal Mergers," Grand Coalition 66, Grand Coalition Web Site. [Downloadable!]
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