We examine the various senses in which economist use the term “rationality” and then outline some of the commonly drawn …

The weak rationality principle is not an empirical statement but a heuristic rule of how to proceed in social sciences …-foundation and, therefore, employ the rationality assumption in economic models. Then, with reference to the ?bounded rationality … a part of the rationality assumption. We conclude with some remarks on handling the problems of ?free will? as well as …

consistent in revealing that groups behave closer to the game-theoretical assumption of rationality and selfishness than …

We propose a new measure of deviations from expected utility, given data on economic choices under risk and uncertainty …

rulings at the European Court of Justice (ECJ) are uncertain. We find that higher uncertainty about the preferences of the ECJ …

risk preferences. Here, we develop an analogous tool for choice under uncertainty – the ambiguity triangle – and show that …

is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

taxes on investment timing under uncertainty and irreversibility and the propensity to carry out risky projects. Using a …