If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this paper we argue that, even with full unpredictability of mood, the way choices from a menu relate to choices from another menu exhibits some structure. We present two alternative...

If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this paper we argue that, even with full unpredictability of mood, the way choices from a menu relate to choices from another menu exhibits some structure. We present two alternative...

Many decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two...

One approach to the modeling of bounded rationality in strategic environments is based on the dynamics of evolution and learning in games. An entirely different approach has been developed recently by Osborne and Rubinstein (1998). This latter approach is static and equilibrium based, but relies...

The impact of different financing alternatives on two simple models of the university system is analysed in this paper. Both models are agent - based, the reason is that we analyse a system of heterogeneous universities instead of a representative university. Models differ in the rules for the...

We show that whenever a decision maker reasons about an optimal decision he is able to find one, even with non-transitive preferences. The existence of a reasoning process allows him to strategically manipulate how he reasons. A reasoning strategy that is robust against (finite) deviations is...

In this paper we analyze a dynamic, asset pricing model where an arbitrary number of heterogeneous, procedurally rational investors divide their wealth between two assets. Both fundamental dividend process and behavior of traders are modeled in a very general way. In particular, agents' choices...

This article focuses on management indicators, their emergence, theirs functions and their impact for a public action. It does so through an analysis of the implementation of indicators in three forest management units in Belgium, France and Luxembourg. M. Crozier theory and M. Callon theory are...

The rationality (its presence or its absence) of the business, be it producer or consumer, has been a constant preoccupation of all those who dedicated their energy and talent on the sinuous road of the history of economic thinking. Without rational behaviour it was inconceivable to determine a...

Dès lors que l'on s'intéresse aux comportements individuels et que l'on adopte implicitement une démarche d'individualisme méthodologique, le recours à une hypothèse de rationalité individuelle est nécessaire. A côté de l'hypothèse traditionnelle de rationalité dite "substantielle"...