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| Author: | Nozick, R. |
| Title: | Invisible-hand explanations |
| Journal: | American Economic Review
1994 : MAY, VOL. 84:2, p. 314-318 |
| Index terms: | THEORIES DEFENCE COMPANIES |
| Language: | eng |
| Abstract: | Economics typically explains patterns in terms of the actions of rational agents. However, a disregarded theory of the agent herself, wherein patterns that seem to indicate a central and unified directing agent are instead explained as the result of smaller, non-agent entities interacting, also might count as an invisible- hand explanation. The future is uncertain, an organism may not survive to reap an anticipated reward, or the world might not present it. |
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