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conceptions of rationality defended by Neurath and Mises and suggests some consequent insights with respect to Viennese Late … Enlightenment, contemporary rationality wars, the socialist calculation debates, and the foundations of welfare economics. …
Persistent link: https://www.econbiz.de/10012607642
This paper conducts a systematic comparison of behavioral economics’s challenges to the standard accounts of economic behaviors within three dimensions: under risk, over time and regarding other people. A new perspective on two underlying methodological issues, i.e., interdisciplinarity and...
Persistent link: https://www.econbiz.de/10011809698
This paper discusses why mathematical economists of the early Cold War period favored formal-axiomatic over behavioral choice theories. One reason was that formal-axiomatic theories allowed mathematical economists to improve the conceptual and theoretical foundations of economics and thereby to...
Persistent link: https://www.econbiz.de/10011759791
The aim of this paper is to explain the process of diversification of normative economics by presenting the work of two authors: Tibor Scitovsky [1910-2002] and Amartya Sen [1933-]. While these two authors first contributed to traditional welfare analysis from within, they were subsequently...
Persistent link: https://www.econbiz.de/10011708267
Popper recognizes that there are, at least, two versions of his "Rationality Principle" (RP) yet he does not explain …
Persistent link: https://www.econbiz.de/10011609744
This essay reviews new histories of the role of game theory and rational decision-making in shaping the social sciences, economics among them, in the post war period. The recent books The World the Game Theorists Made by Paul Erickson and How Reason Almost Lost Its Mind by Paul Erickson, Judy...
Persistent link: https://www.econbiz.de/10011598915
ually the interests of society. This dilemma was one of a few stimuli ge nerating a new focal point for rationality, that of …
Persistent link: https://www.econbiz.de/10011600635
scientific rationality. If science is complex in Hayek's sense, then scientific belief may be rational in more than one way. It … is argued that a failure to recognize the possibility of multiple kinds of scientific rationality contributes to an error … that, where ecological rationality is operative, rational belief requires an element of methodological liberty. It is shown …
Persistent link: https://www.econbiz.de/10011602806
The transcript of a panel discussion marking the fiftieth anniversary of John Muth's "Rational Expectations and the Theory of Price Movements" (Econometrica 1961). The panel consists of Michael Lovell, Robert Lucas, Dale Mortensen, Robert Shiller, and Neil Wallace. The discussion is moderated by...
Persistent link: https://www.econbiz.de/10011603748
now meant to represent the basic demands of rationality, while theories of rational decision-making specified rules of …
Persistent link: https://www.econbiz.de/10011759965