Bowles, "Microeconomics: Behavior, Institutions, and Evolution"

[walt526]

This book looks like it could make for some interesting summer reading before heading back into the world of MWG and Varian. Anyone have any experience with it? Worth $30 to own, or should I try to get it via inter-library loan?

[zshfryoh1]

I was unlucky enough to TA UG Intermediate Micro for a prof who attempted to use this book. It was on way too high a level for the UG students even when the math heavy parts were eliminated, and the next semester that prof used a more standard text.

 

I look at it as an MA level text and there is a good amount of math sprinkled throughout, so it is not exactly light reading, though compared to Varian or MWG is not so mathematical. It is more mainstream and more balanced than someone might think, (though if you actually read Bowles other stuff you see he is more mainstream than his reputation). Bowles uses a good amount of behavioral economics, game theory (a more intuitive approach without most of the math), and strongly emphasizes institutions throughout, but the evolutionary economics is not emphasized as much as the title implies, though it is definitely discussed quite a bit. Interestingly, for some one considered to be somewhat left heterodox, it seems that his work on complexity modeling and evolutionary economics has given him a somewhat Hayekian viewpoint in some areas.

 

As far as readability, it is inconsistent with some parts being amazingly clear, and others barely comprehensible.

 

It is an interesting book to have around, even if you don't a agree with a lot of Bowle's conclusions on policy. If you can get a used copy cheap, do it, or take it out of the library. As to buying a new copy, only do it if you think you might come back to it as a reference later on, or if you really think you might end up doing institutional or evolutionary stuff.

[EconForeThought]

My last summer's "light reading": Amazon.com: The Spatial Economy: Cities, Regions, and International Trade (9780262561471): Masahisa Fujita, Paul Krugman, Anthony J. Venables: Books

Highly recommended if you are interested in urban, labor OR rural/ag economics. Pretty sophisticated math but it is not hard to follow. Make yourself a reference sheet if you really want to follow the math.

[thesparky]

If you can ILL it, there's no reason not to do that first and buy it later if it really grabs you. I do own a copy. It is certainly interesting, and I'm reasonably familiar with many of the topics covered. The book is written in a political economy style and concerned predominantly with institutions, covering topics from dividing gains of cooperation to coordination problems to principal-agent theory, using the methodologies of game theory and evolutionary modeling (game theoretic or otherwise). Some orthodox elements are certainly covered (e.g. some bargaining, general equilibrium), but much empirical and experimental evidence is brought to bear on things not usually covered such as the origin of preferences or various behavioural econ themes, and even the mainstream topics are embedded in the institutional context. I consider it worth at least a glance or skim. I think you can find the first chapter online.