Generalized Microeconomics

The generalization of microeconomics enables model descriptions of economic rationality, even in fields that standard microeconomics more or less avoids, like nonprofit sectors of market economies, altruism, or externalities.

Here, the authors broaden the scope of microeconomics while treating standard profit maximization as a special case. They argue, ultimately, that the generalizing criterion is a Darwinian maximization of the probability of survival.

Generalized Microeconomics by Jiri Hlavacek and Michal Hlavacek provides a comprehensive look at these expanded approaches, illustrating the adaptability and wider applications of microeconomic principles.