Kieran Healy

Digby Goes Up

A new blog, Hullabaloo, by Digby comes highly recommended by Atrios. Paying it a visit, I find I am on Digby’s blogroll. So Hullabaloo gets my recommendation too, for its excellent taste.

Thanks for pointing out the existence of Machine Dreams to me. The tension between Walrasian general equilibrium models and the theory of computation is, to my mind, the biggest philosophical problem in all of economics.

But it’s not clear to me that the computational approach is the best way to do bounded rationality, even if it’s the one that I-as-computer-scientist likes. Stuff like transaction cost theory, information economics, and institutional economics, could yield better (ie more tractable) approaches.