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Forecasting the South African Inflation Rate: On Asymmetric Loss and Forecast Rationality

Pierdzioch, Christian; Reid, Monique B.; Gupta, Rangan - Department of Economics, Fakulteit Ekonomiese en … - 2014

Using forecasts of the inflation rate in South Africa, we study the rationality of forecasts and the shape of … find strong evidence that inflation forecasts are in line with forecast rationality. When we pool the data, and study … the loss function, and against forecast rationality. Upon comparing the micro-level results with those for pooled and …

Persistent link: https://www.econbiz.de/10011093334

Making Decisions by Amateur Investors A Review on Book: Harrington B. (2008) Pop Finance: Investment Clubs and the New Investor Populism. Princeton: Princeton University Press.

Khalina, Natalia - In: Journal of Economic Sociology 14 (2013) 5, pp. 159-170

this ideas result in the debates about rationality of economic action. In addition, the significance of group composition …

Persistent link: https://www.econbiz.de/10011100288

Evolutionary Exploration of the Finitely Repeated Prisoners’ Dilemma—The Effect of Out-of-Equilibrium Play

Lindgren, Kristian; Verendel, Vilhelm - In: Games 4 (2013) 1, pp. 1-20

The finitely repeated Prisoners’ Dilemma is a good illustration of the discrepancy between the strategic behaviour suggested by a game-theoretic analysis and the behaviour often observed among human players, where cooperation is maintained through most of the game. A game-theoretic reasoning...

Persistent link: https://www.econbiz.de/10011030497

Le Paradoxe d'Allais: Comment lui rendre sa signification perdue? (Allais's Paradox: How to Give It Back Its Lost Meaning?)

Mongin, Philippe - HEC Paris (École des Hautes Études Commerciales) - 2013

known works of the 1970s, which under his influence provided experimental renderings of rationality, and it eventually …

Persistent link: https://www.econbiz.de/10011031653

Rationality and dual process models of reasoning in managerial cognition and decision making

Basel, Jörn S.; Brühl, Rolf - In: European Management Journal 31 (2013) 6, pp. 745-754

This paper sketches important concepts of rationality for managerial cognition. It concentrates on bounded rationality … and colleagues. One objective is to link the underlying concept of ecological rationality in judgment and decision making … overview of the historic development in this debate on rationality, this paper concludes with the description of dual process …

Persistent link: https://www.econbiz.de/10011039733

Optimization, path dependence and the law: Can judges promote efficiency?

Marciano, Alain; Khalil, Elias L. - In: International Review of Law and Economics 32 (2012) 1, pp. 72-82

The thesis that judges could (voluntarily or not) promote efficiency through their decisions has largely been discussed since Posner put it forward in the early 1970s. There nonetheless remains a methodological aspect that has never (to our knowledge) been analyzed in relation to the...

Persistent link: https://www.econbiz.de/10011039748

Are professional forecasts of growth in US business investment rational?

Baghestani, Hamid - In: Economics Letters 114 (2012) 1, pp. 132-135

Utilizing comparable time-series forecasts as benchmarks, we document the “weak” and “stronger” rationality of …

Persistent link: https://www.econbiz.de/10011041759

Rational thinking under costly information—Macroeconomic implications

Gomes, Orlando - In: Economics Letters 115 (2012) 3, pp. 427-430

, the selection of an optimal degree of rationality may lead to the generation of long-term endogenous fluctuations. …

Persistent link: https://www.econbiz.de/10011041783

Soft Paternalism and Nudging - Critique of the Behavioral Foundations

Pasche, Markus - Volkswirtschaftliche Fakultät, … - 2014

This brief note rises doubts on the argument that nudging will help people to behave more rational in terms of their own preferences. This justification of soft paternalism overlooks some methodological problems of expected utility theory which are one of the roots of behavioral economics.

Persistent link: https://www.econbiz.de/10011109175

Evolutionary Exploration of the Finitely Repeated Prisoners' Dilemma--The Effect of Out-of-Equilibrium Play

Lindgren, Kristian; Verendel, Vilhelm - Volkswirtschaftliche Fakultät, … - 2013

The finitely repeated Prisoners' Dilemma is a good illustration of the discrepancy between the strategic behaviour suggested by a game-theoretic analysis and the behaviour often observed among human players, where cooperation is maintained through most of the game. A game-theoretic reasoning...

Persistent link: https://www.econbiz.de/10011109624