In this essay the Author traces back the modern standard theory of economic rationality to the theological backgrond of the theory of Angels as rational decision makers developed by Christian Scholastics.His main conclusion is that there is an identifiable theological background of modern...

Individual choices are often inconsistent with economic theories, which has motivated a variety of ways to measure how far choices are from a given theory. Recent work has investigated the correlation between measures of rationality and observable information such as education or income. This...

The present article offers the first quantitative history of behavioral economics (BE) from the 1970s to the 2010s. We document the foundation of the field by Kahneman and Tversky in the 1980s and 1990s; the separation of experimental economics and BE in the 1990s; the decreasing importance of...

In this paper we critically review the literature on rational choice theory (RCT) and the critical approaches to it. We will present a concise description of the theory as defended by Gary Becker, Richard Posner and James Coleman (as well as others) at the University of Chicago from the...

Based on the concept promoted by Paul Krugman – “new economy of inequality” – inequality is a process that should and can be viewed from an interdisciplinary perspective. Political life, how to regulate tax matter, the way the economy is thought offers different views on inequality. The...

Recognizing that human rationality has bounds that are unequal across individuals entails treating it as a special scarce resource, tied to individuals and used for deciding on its own uses. This causes a meta-mathematical difficulty to the axiomatic theories of human capital and resource...

This paper examines whether policymakers, economists at the Israeli Finance Ministry, act in their personal pension decisions in accordance with the rational behaviour assumptions underlying the pension policies they advance. We find that while economists' decisions regarding three other...

This paper examines the research area identified by Frey and Gallus (Aggregate Effects of Behavioral Anomalies: A New Research Area, 2014) and the relationship between it and the choices that economists make. It supports the Frey and Gallus view that, as a consequence of individuals employing...

This paper examines the research area identified by Frey and Gallus (Aggregate Effects of Behavioral Anomalies: A New Research Area, 2014) and the relationship between it and the choices that economists make. It supports the Frey and Gallus view that, as a consequence of individuals employing...