Showing 1 - 10 of 1,264
In this paper, we attempt to shed light on whether Japanese households are rational or if their behavior is influenced by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that Japan's household saving rate showed great volatility,...
Persistent link: https://www.econbiz.de/10011478422
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,...
Persistent link: https://www.econbiz.de/10011524189
In this paper we provide choice-process experimental evidence that the attraction effect is a short-term phenomenon, that disappears when individuals are given time and incentives to revise their choices. The attraction (or decoy) effect is the most prominent example of context effects, and it...
Persistent link: https://www.econbiz.de/10012135537
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 paper considers the evidence of near-rationality, as described by Akerlof, Dickens, and Perry (2000). Using … unsupportive of the near-rationality hypothesis. However, we document that household inflation expectations tend to settle around …
Persistent link: https://www.econbiz.de/10011585061
the very idea of "rationality" are derived entities. Which of the primitive tale is chosen bears far-reaching consequences … away from rationality-cum-equilibrium interpretations and of focusing on the varying balances between self …
Persistent link: https://www.econbiz.de/10011554090
Persistent link: https://www.econbiz.de/10010513283
Persistent link: https://www.econbiz.de/10011285514
Persistent link: https://www.econbiz.de/10012199897
If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …
Persistent link: https://www.econbiz.de/10012159880