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A very reasonable objective still beyond our reach: Economics as an empirically disciplined social science

Dosi, Giovanni - 2002

painstaking attempts to operationalize the notion of 'bounded rationality' - in the broadest sense -, to make bridges with the …

Persistent link: https://www.econbiz.de/10010328517

Evolutionary economics and household behavior

Horioka, Charles Yuji - 2014

This paper provides an introduction to the field of evolutionary economics with emphasis on the evolutionary theory of … evolutionary theory of household behavior is to improve upon the neoclassical theory of household behavior by replacing the … neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …

Persistent link: https://www.econbiz.de/10010398499

Evolutionary economics and household behavior

Horioka, Charles Yuji - 2014

Persistent link: https://www.econbiz.de/10011421455

Cheap Talk, Gullibility, and Welfare in an Environmental Taxation Game

Deissenberg, Christophe; Dawid, Herbert; Sevcik, Pavel - 2004

We consider a simple dynamic model of environmental taxation that exhibits time inconsistency. There are two categories of firms, Believers, who take the tax announcements made by the Regulator to face value, and Non-Believers, who perfectly anticipate the Regulator's decisions, albeit at a...

Persistent link: https://www.econbiz.de/10011325007

Social Conformity and Bounded Rationality in Arbitrary Games with Incomplete Information: Some First Results

Cartwright, Edward; Wooders, Myrna - 2003

In has been frequently observed, in both economics and psychology, that individuals tend to conform to the choices of other individuals with whom thy identify. Can such conformity be consistent with self-interested behaviour? To address this question we use the framework of games with incomplete...

Persistent link: https://www.econbiz.de/10011325147

Near-rational exuberance

Bullard, James; Evans, George W.; Honkapohja, Seppo - 2005

We study how the use of judgement or “add-factors” in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...

Persistent link: https://www.econbiz.de/10011604601

Limited Rationality and Strategic Interaction: A Probabilistic Multi-Agent Model

Ortiz, Yves; Schüle, Martin - 2011

We develop a multi-agent framework based on probabilistic cellular automata theory to describe off-equilibrium dynamics … on the other players rationality is addressed within our multi-agent framework. We find that, if costs/payoffs act as …

Persistent link: https://www.econbiz.de/10011430083

Corporate Governance: The Role of Other Constituencies

Schmidt, Reinhard H. - 1997

The paper discusses the role of various constituencies in the corporate governance of a corporation from the perspective of incomplete contracts. A strict shareholder value orientation in the sense of a rule that at any time firm decisions should be made strictly in the interest of the present...

Persistent link: https://www.econbiz.de/10010316256

Erich Gutenberg und die Theorie der Unternehmung

Schmidt, Reinhard H. - 1998

Ich möchte in diesem Vortrag Beziehungen zwischen Gutenbergs Theorie der Unternehmung, die in seiner … Habilitationsschrift angelegt und in den Grundlagen der Betriebswirtschaftslehre entfaltet ist, und aktuellen Entwicklungen in der Theorie …, ob mein Vorhaben ein wissenschaftlich sinnvolles Unterfangen darstellt: Kann Gutenbergs Theorie der Unternehmung noch …

Persistent link: https://www.econbiz.de/10010316296

Consistency in Organization

Schlicht, Ekkehart - 2003

Recent thinking has emphasized the importance of consistency in a firm?s compensation policy. By starting from Williamson?s ideas about idiosyncratic exchange, this view can be supplied with some theoretical foundation. At the same time, the consistency view can be applied to a number of...

Persistent link: https://www.econbiz.de/10010261986