distance in determining outcomes. Applications range from politics, economics and sports, to biology, where the equilibrium …

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 …

-driven theory of dynamic pricing in which the Phillips curve slope is endogenous to systematic aspects of monetary policy. In our …

The Homo economicus of traditional economics is far from being completely self-interested, rational, or as …

deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … distance to the theory. We apply our methodology to three recent large-scale experiments. Many subjects in those experiments …

the market: That’s what Political Economy, understood as the application of economics to the study of political processes … selfinterested, unlike the benevolent despot of earlier models. History repeats itself with the rise of behavioral economics … intervene in a "benevolent" way. Recently, however, political economists have started to apply behavioral economics insights to …