Showing 1 - 10 of 38
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 …
Persistent link: https://www.econbiz.de/10010933826
The purpose of this paper is twofold. We first point out that violation of rationality axioms (SARP, GARP, WARP) do not …
Persistent link: https://www.econbiz.de/10009643767
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
We develop a general method to solve models of interactions between multiple and possibly strategic agents. Our model explains apparently irrational or biased behaviors in a person. We argue that these actions could result from several rational structures having different goals. Our main example...
Persistent link: https://www.econbiz.de/10010899628
After a few centuries of speeding up, the distribution of GNP's growth rates has widely changed all round the world. Growth is slowing down in advanced countries and has accelerated in emerging countries. Moreover growth is questioned as a matter of principle. Considering the vast array of...
Persistent link: https://www.econbiz.de/10010899774
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
Facing R. Sugden's criticism of our interpretation, it is shown in this paper that rationality appears as a possible … 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 …
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 decision, like the one developed in Diaye and Lapidus (2005a). Although we support the idea that Hume was in some way a hedonist – evidently different from Bentham's or Jevons' way...
Persistent link: https://www.econbiz.de/10008790780