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Adaptive Rationality in Strategic Interaction : Do Emotions Regulate Thinking about Others?

Ehrig, Timo; Manjaly, Jaison; Singh, Aditya; Sunder, Shyam - 2021

interactions in and across organizations. In the game theoretic conception of rationality, agents reason iteratively about each …

Persistent link: https://www.econbiz.de/10013324375

Uncertain rationality, depth of reasoning and robustness in games with incomplete information

Germano, Fabrizio; Weinstein, Jonathan; Zuazo-Garin, Peio - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 1, pp. 89-122

unique rationalizable action. This paper studies how a wide class of departures from common belief in rationality impact … attach to (n- 1)th-order belief in rationality. We find that Weinstein and Yildiz's discontinuity remains when λn is above an … appropriate threshold for all n, but fails when λn converges to 0. That is, if players' confidence in mutual rationality persists …

Persistent link: https://www.econbiz.de/10012159030

Too risk averse to purchase insurance? : a theoretical glance at the annuity puzzle

Bommier, Antoine; Le Grand, François - 2012

This paper suggests a new explanation for the low level of annuitization, which is valid even if one assumes perfect markets. We show that, as soon there exists a positive bequest motive, sufficiently risk averse individuals should not purchase annuities. A model calibration accounting for...

Persistent link: https://www.econbiz.de/10009552900

Once upon a time preference : how rationality and risk aversion change the rationale for discounting

Traeger, Christian - 2012

that are imposed in the evaluation of uncertain scenarios. Imposing all rationality constraints jointly eliminates pure …

Persistent link: https://www.econbiz.de/10009533970

Once Upon a Time Preference - How Rationality and Risk Aversion Change the Rationale for Discounting

Traeger, Christian P. - 2012

that are imposed in the evaluation of uncertain scenarios. Imposing all rationality constraints jointly eliminates pure …

Persistent link: https://www.econbiz.de/10013107349

Endogenous Rational Shortlist Method

Nosratabadi, Hassan - 2019

This paper endogenizes the rational short-list method whereby the decision-maker consecutively uses two rationales to finalize her choice. Rather than being exogenously given, it is assumed that choice alternatives themselves induce them. We use a novel inductive decomposition of the weak axiom...

Persistent link: https://www.econbiz.de/10012900855

Critical Decisions in Crisis Management : Rational Strategies of Decision Making

Coccia, Mario - 2020

problem can be treated in different ways in a wider perspective of ecological rationality by approaches of resolution …

Persistent link: https://www.econbiz.de/10012828333

Education, Decision-Making, and Economic Rationality

Banks, James W. - 2018

This article studies the causal effect of education on decision-making. In 1972 England raised its minimum school-leaving age from 15 to 16 for students born after September 1, 1957. An online survey was conducted with 2,700 individuals born in a 36-month window on either side of this date....

Persistent link: https://www.econbiz.de/10012913522

A Note on the Risk Behavior and Death of Homo Economicus

Johansson-Stenman, Olof - 2006

Recent papers by Cox and Sadiraj (2006) and Rubinstein (2006) have pointed out that expected utility theory is more general than has sometimes been acknowledged, and can hence not be refuted as easily by means of experiments. While acknowledging this fact, this note nevertheless demonstrates...

Persistent link: https://www.econbiz.de/10014055918

Chapter 2. Rationality and Dynamic Consistency Under Risk and Uncertainty

Hammond, Peter J.; Zank, Horst - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 41-97). 2014

For choice with deterministic consequences, the standard rationality hypothesis is ordinality, i.e., maximization of a …

Persistent link: https://www.econbiz.de/10014025530