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A collection of 3 posts

Equilibrium: the non-excludability of good ideas

Equilibrium: the non-excludability of good ideas

Looking back on Equilibrium 2012 I find that yes, it is a review of ESSA’s year and yes it is a memoir, a keepsake, a gift to our members. It is also, more than anything a celebration of economic thought. It is about the thinking and sharing of ideas,

John Freebairn Lecture recap

John Freebairn Lecture recap

On Thursday the 19th of September the University of Melbourne hosted the inaugural John Freebairn lecture titled ‘Governing the ungovernable: the market, technology and you’, presented by Professor Stephen King from Monash University. I had the opportunity to attend what was an insightful lecture about how the growing complexity, pace

The irrationality of the ‘rationality’ assumption

The irrationality of the ‘rationality’ assumption

Historically, the term ‘rationality’ has been ascribed various meanings within the sphere of economics. Typically, rationality has been expressed in terms of the idea that consumers attempt to maximise utility by arriving at an optimal decision in light of a complete set of information relating to the market in which