Bringing Sentiment Into Economic Reason: A Unified Theory of Choice, Finance, and Growth
暫譯: 將情感納入經濟理論：選擇、金融與成長的統一理論

Bossone, Biagio

Bringing Sentiment Into Economic Reason: A Unified Theory of Choice, Finance, and Growth
  • 出版商: Springer
  • 出版日期: 2026-01-23
  • 售價: $2,300
  • 貴賓價: 9.5 折 $2,185
  • 語言: 英文
  • 頁數: 114
  • 裝訂: Quality Paper - also called trade paper
  • ISBN: 3032086167
  • ISBN-13: 9783032086167
  • 相關分類: 經濟學 Economy

    • 海外代購書籍(需單獨結帳)

相關主題

商品描述

This book introduces SAGE--the Sentiment-Augmented General Equilibrium framework--as a unified theory of choice, finance, and growth that integrates human sentiment into the core of economic modeling. Departing from fragmented traditions across intertemporal choice theory, asset pricing, and growth models, SAGE develops a utility-based structure in which all assets--money, bonds, capital--deliver utility contingent on liquidity, price volatility, and sentiment-driven expectations. Agents form rational yet sentiment-sensitive expectations. Central to the model is the dynamic interaction between reason and sentiment: expectations evolve not only from knowledge and information but also from psychological states, market moods, and narrative feedback loops. The reverse holds as well, since agents' expectations about the future shape their current sentiment. SAGE thus explains how sentiment and reason affect the utility agents derive from the full range of resources available to them and shifts in their portfolio choices reshape macroeconomic outcomes even in the absence of structural shocks. The model reproduces observed anomalies--persistent stagnation, excess volatility, asset mispricing--as rational equilibria under uncertainty and belief asymmetry. By embedding financial frictions, market depth, and institutional trust into the utility calculus, SAGE also links macroeconomic dynamics to the quality of financial intermediation. The result is a flexible, tractable, and psychologically grounded framework that offers new directions for empirical research, policy analysis, and the scientific unification of economics.

"Bossone's book offers a welcome departure from New Keynesian orthodoxy by developing a unified framework where sentiment and reason jointly shape economic expectations and outcomes."
Prof. Roger Farmer, Emeritus Distinguished Professor of Economics at The University of California, Los Angeles

商品描述(中文翻譯)

這本書介紹了 SAGE——情感增強一般均衡框架——作為一個統一的選擇、金融和增長理論，將人類情感整合到經濟模型的核心。SAGE 脫離了跨期選擇理論、資產定價和增長模型之間的碎片化傳統，發展出一個基於效用的結構，其中所有資產——貨幣、債券、資本——的效用取決於流動性、價格波動性和情感驅動的預期。代理人形成理性但又敏感於情感的預期。模型的核心是理性與情感之間的動態互動：預期不僅來自知識和信息，還來自心理狀態、市場情緒和敘事反饋循環。反之亦然，因為代理人對未來的預期會影響他們當前的情感。因此，SAGE 解釋了情感和理性如何影響代理人從可用資源中獲得的效用，以及投資組合選擇的變化如何重塑宏觀經濟結果，即使在沒有結構性衝擊的情況下。該模型將觀察到的異常現象——持續停滯、過度波動、資產錯誤定價——再現為不確定性和信念不對稱下的理性均衡。通過將金融摩擦、市場深度和制度信任嵌入效用計算中，SAGE 還將宏觀經濟動態與金融中介的質量聯繫起來。其結果是一個靈活、可處理且心理學基礎的框架，為實證研究、政策分析和經濟學的科學統一提供了新的方向。

「Bossone 的書籍提供了一個令人歡迎的脫離新凱恩斯主義正統的視角，發展出一個統一的框架，在這個框架中，情感和理性共同塑造經濟預期和結果。」
——加州大學洛杉磯分校經濟學榮譽傑出教授 Roger Farmer 教授

作者簡介

Biagio Bossone is a financial advisor to international organizations, and consultants to governments, central banks, and financial institutions across Africa, Asia, Europe, the Middle East, and the Pacific. He is currently a Visiting Scholar at the IMF and Scientific Advisor to the Fast Forward Foundation, which promotes the inclusive and sustainable transformation of welfare systems. He has served as Executive Director at the World Bank, member of the Executive Board of the IMF, Head of the Public Investment Evaluation Unit at Italy's Presidency of the Council of Ministers, General Accountant and Director General of Budget and Finance of the Sicilian Regional Government. A former banker and central banker, he has also participated in G10 and European central banking working groups and task forces, and served as an expert to the High-Level Commission on World Bank Reform. He has been Professor of International Finance at the University of Palermo and the University of Salento, Italy, and has led training programs on central banking in several countries. He has authored and co-authored numerous studies on economics, banking, finance, and macro-financial policy issues.

作者簡介(中文翻譯)

比亞喬·博索內（Biagio Bossone）是國際組織的財務顧問，並且擔任非洲、亞洲、歐洲、中東和太平洋地區政府、中央銀行及金融機構的顧問。他目前是國際貨幣基金組織（IMF）的訪問學者，以及快速前進基金會（Fast Forward Foundation）的科學顧問，該基金會促進福利系統的包容性和可持續轉型。他曾擔任世界銀行的執行董事、國際貨幣基金組織執行董事會成員、意大利總理府公共投資評估單位負責人、以及西西里區域政府的總會計師和預算與財務總監。作為一名前銀行家和中央銀行官員，他還參與了G10和歐洲中央銀行的工作小組和專案小組，並擔任世界銀行改革高級委員會的專家。他曾在意大利巴勒莫大學和薩倫托大學擔任國際金融教授，並在多個國家主導中央銀行的培訓計畫。他撰寫和共同撰寫了多篇有關經濟、銀行、金融和宏觀金融政策問題的研究。

類似商品