Showing 1 - 10 of 12
I establish, in simple deterministic overlapping generations economies, that if each agent holds rationally formed expectations in the sense that any other expectations justifying his choices imply a smaller likelihood for the history he observes with limited memory, then there are rationally...
Persistent link: https://www.econbiz.de/10010750627
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 …
Persistent link: https://www.econbiz.de/10010751001
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 …
Persistent link: https://www.econbiz.de/10010738554
rationality through which Hume's theory is apprehended, is highly disputable, from the point of view of both standard choice … theory and Hume's theory of passions. Nonetheless, Sugden's criterion of rationality might be restated in Humean terms as a …Facing R. Sugden's criticism of our interpretation, it is shown in this paper that rationality appears as a possible …
Persistent link: https://www.econbiz.de/10008789356
science and, thus, has neglected a specific kind of rationality (the “creative rationality”). Integrating this kind of … rationality in the design education drives us to invent“pedagogy of the adventure”. …
Persistent link: https://www.econbiz.de/10008789399
The purpose of this paper is to introduce explicitly pleasure and belief in what aims at being a Humean theory of …
Persistent link: https://www.econbiz.de/10008790780
For the reader who considers economic theory of choice as a special case of a more general theory of action, Hume … not seem to have given any evidence which would favour what we nowadays consider as the kind of rationality involved in … process, described by means of a decision algorithm which aims at representing Hume's theory of choice. …
Persistent link: https://www.econbiz.de/10008791484
Neuroeconomics is a recent extension of behavioral economics which aims at uncovering the brain mechanisms and activities that mediate regular and anomalous behaviour. Gul and Pesendorfer (2005) have launched a critique against the neuroeconomic research program, based on what they argue is the...
Persistent link: https://www.econbiz.de/10008792335
The purpose of this paper is to introduce explicitly pleasure and belief in what aims at being a Humean theory of …
Persistent link: https://www.econbiz.de/10008793170
Our paper sheds light on the reasons for which a rational venture capitalist decides to reallocate his or her portfolio from later to early-stage investment. We explain why, during certain periods, there is a strong correlation between the performance of financial markets and the funds invested...
Persistent link: https://www.econbiz.de/10008794401