the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others' rationality plays a major role in causing substantial deviation of forecast prices from …

This paper focuses on the link between the economic conceptions of rationality and learning. Traditionally, most … is not the process of learning, but the result of learning: ‘a fully rational agent'. Heterodox rationality conceptions … such as the Simonian model of bounded rationality seem more compatible with the idea of learning. Bounded rationality …

In 1940 Schumpeter wrote a paper entitled: "The Meaning of Rationality in the Social Sciences", which was intended to …, that he took the initiative to start. In this paper Schumpeter develops thoroughly his own conception of rationality in … indeed interestingly anticipates some important debates concerning the problem of rationality and behavior in economics and …

We examine the determinants of income inequality and mobility in a Ramsey model with elastic labor supply. Individuals …

level since 1870. Inequality in years of schooling is found to be rapidly decreasing, but we show that this result is … completely driven by the decline in illiteracy. Then, we turn to inequality in human capital and focus on a Mincerian production … capital inequality has increased since 1870, but does not exceed 10% of world income inequality. Next, we analyse the …