Results for 'Economic rationality'

950 found
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  1. Economic rationality and the optimization trap.Nikil Mukerji & Julian Nida-Rümelin - 2015 - St. Gallen Business Review 2015 (1):12-17.
    The theme of this issue of the St. Gallen Business Review is "Harmony". For this reason, we would like to discuss whether two aspects of our life- world are in harmony, namely economic optimization and morality. What is the relation between them? According to a widely shared view, which is one aspect of the doctrine of "mainstream economics", the functioning of an economic system does not require moral behaviour on the part of the individual economic agent. In (...)
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  2. The Stoics and Economic Rationality.Aiste Celkyte - 2024 - Pege/Fons 7:221–237.
    When it comes to the discussions of ancient economic thought, the Stoics rarely come to the forefront. By and large, the lack of focus on this Hellenistic philosophical school is understandable: there is no evidence of the Stoics writing treatises entitled oikonomikos or similar or, in fact, showing any substantial interest in the matters pertaining to wealth management or money acquisition. There is an extant fragment, however, depicting a debate between Diogenes of Babylon and Antipater of Tarsus in which (...)
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  3. Popper, the Rationality Principle and Economic Explanation.D. Wade Hands - 1991 - In G. K. Shaw (ed.), Economics, Culture, and Education: Essays in Honor of Mark Blaug. Edward Elgar. pp. 108-119.
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  4. Economics of NHS Cost-Saving and its Morality on the 'Living-Dead'.Emerson Abraham Jackson - forthcoming - Journal of Heterodox Economics.
    This article was championed in view of the notion of (perceived) economic rationalisation which seem to be the foremost of patients' care in the NHS as opposed to addressing distress to their existing well-being, while in a state of being tormented with agonising news of prolonged ill health. Serious consideration is given to addressing the need to rationalise resources in ensuring the long standing history of the NHS' free health care is critically addressed, but not in a way that (...)
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  5. Collective and Individual Rationality: Some Episodes in the History of Economic Thought.Andy Denis - 2002 - Dissertation, City, University of London
    This thesis argues for the fundamental importance of the opposition between holistic and reductionistic world-views in economics. Both reductionism and holism may nevertheless underpin laissez-faire policy prescriptions. Scrutiny of the nature of the articulation between micro and macro levels in the writings of economists suggests that invisible hand theories play a key role in reconciling reductionist policy prescriptions with a holistic world. An examination of the prisoners' dilemma in game theory and Arrow's impossibility theorem in social choice theory sets the (...)
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  6. The varieties of cleverness again: Rosamond and rational actor economics.Terence Rajivan Edward - manuscript
    Is Rosamond from Middlemarch one of the clever? Well, the description comes across as ironic today. We are encouraged to think of her in that way at points, but various features of the novel undermine the impression of cleverness.
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  7. Resource Rationality.Thomas F. Icard - manuscript
    Theories of rational decision making often abstract away from computational and other resource limitations faced by real agents. An alternative approach known as resource rationality puts such matters front and center, grounding choice and decision in the rational use of finite resources. Anticipated by earlier work in economics and in computer science, this approach has recently seen rapid development and application in the cognitive sciences. Here, the theory of rationality plays a dual role, both as a framework for (...)
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  8. (1 other version)Rationality and its contexts.Timothy Lane - 2016 - In Timothy Joseph Lane & Tzu-Wei Hung (eds.), Rationality: Constraints and Contexts. London, U.K.: Elsevier Academic Press. pp. 3-13.
    A cursory glance at the list of Nobel Laureates for Economics is sufficient to confirm Stanovich’s description of the project to evaluate human rationality as seminal. Herbert Simon, Reinhard Selten, John Nash, Daniel Kahneman, and others, were awarded their prizes less for their work in economics, per se, than for their work on rationality, as such. Although philosophical works have for millennia attempted to describe, explicate and evaluate individual and collective aspects of rationality, new impetus was brought (...)
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  9. (1 other version)Economics Imperialism Reconsidered.S. M. Amadae - 2018 - In Uskali Mäki, Adrian Walsh & Manuela Fernández Pinto (eds.), Scientific Imperialism: Exploring the Boundaries of Interdisciplinarity. Routledge. pp. 140-160.
    This chapter uses Uskali Mäki’s (2009) concepts of “good” and “bad” imperialism to investigate the “economics imperialism” thesis. If science expands by offering (a) consilience, and (b) epistemological and ontological unity – that is, it explains more phenomena with greater parsimony – then this is good scientific expansion. Economics imperialism is only bad if the methodology of economics expands outside its domain without increasing understanding in the above manners.
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  10. A Broomean Model of Rationality and Reasoning.Franz Dietrich, Antonios Staras & Robert Sugden - 2019 - Journal of Philosophy 116 (11):585-614.
    John Broome has developed an account of rationality and reasoning which gives philosophical foundations for choice theory and the psychology of rational agents. We formalize his account into a model that differs from ordinary choice-theoretic models through focusing on psychology and the reasoning process. Within that model, we ask Broome’s central question of whether reasoning can make us more rational: whether it allows us to acquire transitive preferences, consistent beliefs, non-akratic intentions, and so on. We identify three structural types (...)
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  11. Socio-economic factors of providing quality of livestock products in Ukraine.Iryna Kyryliuk, Yevhenii Kyryliuk, Alina Proshchalykina & Sergii Sardak - 2020 - Journal of Hygienic Engineering and Design 31:37-47.
    In the context of Ukraine’s membership in the WTO, the functioning of a free trade area with the EU, the opportunity for agricultural producers to obtain a larger share of the value added is primarily linked to the intensification of trade in domestic livestock products and their processing products. However, their production is one of the high-risk areas and requires a set of measures aimed at ensuring proper quality. Without effective solution of the problem of quality of livestock products it (...)
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  12. Environmental and economic security in the conditions of the Ukraine`s economy.Igor Britchenko, Jozefína Drotárová, Mykola Antonov, Juliia Kholodna, Olena Polonska & Yuliia Popova - 2022 - Ad Alta: Journal of Interdisciplinary Research 2 (12):118-122.
    The article examines the peculiarities and modern specifics of the formation of ecological and economic security in Ukraine in the conditions of digitalization. It was determined that the lack of dynamic growth, the violation of the optimal balance and balance of the ecological and economic system are caused by the depletion of raw resources, a decrease in the overall potential of the environment, and the irrational use of natural resources. It has been proven that in the conditions of (...)
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  13. Reason-Based Rationalization.Franz Dietrich & Christian List - manuscript
    [This version of the paper has been superseded by "Reason-based choice and context-dependence: An explanatory framework", forthcoming in Economics & Philosophy.] -/- We introduce a “reason-based” way of rationalizing an agent’s choice behaviour, which explains choices by specifying which properties of the options or choice context the agent cares about (the “motivationally salient properties”) and how he or she cares about these properties (the “fundamental preference relation”). Reason-based rationalizations can explain non-classical choice behaviour, including boundedly rational and sophisticated rational behaviour, (...)
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  14. Life without Virtue: Economists Rule; Review Essay of Dani Rodrik's Economics Rules.S. M. Amadae - 2020 - Economic Issues 25 (2):51-70.
    This review essay of Economics Rules situates Dani Rodrik’s contribution with respect to the 2007–2008 global economic crisis. This financial meltdown, which the eurozone did not fully recover from before the Covid-19 pandemic, led to soul- searching among economists as well as a call for heterodox economic approaches. Yet, over the past decade, instead the economics profession has maintained its orthodoxy. Rodrik’s Economics Rules offers a critique of the economics profession that is castigating but mild. It calls for (...)
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  15. Seeming incomparability and rational choice.Leo Yan - 2022 - Politics, Philosophy and Economics 21 (4):347-371.
    Politics, Philosophy & Economics, Volume 21, Issue 4, Page 347-371, November 2022. We sometimes have to choose between options that are seemingly incomparable insofar as they seem to be neither better than, worse than, nor equal to each other. This often happens when the available options are quite different from one another. For instance, consider a choice between prioritizing either criminal justice reform or healthcare reform as a public policy goal. Even after the relevant details of the goals and possible (...)
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  16. Do anthropologists use rational actor models? The case of Marilyn Strathern.Terence Rajivan Edward - 2022 - IJRDO - Journal of Social Science and Humanities Research 7 (3).
    Economics uses rational actor models, but what about anthropology? I present an interpretation of the influential anthropologist Marilyn Strathern according to which she engages in a kind of rational actor modelling, but a kind that is different from economic modelling.
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  17. Abstract rationality: the ‘logical’ structure of attitudes.Franz Dietrich, Antonios Staras & Robert Sugden - 2024 - Economics and Philosophy 40 (1):12-41.
    We present an abstract model of rationality that focuses on structural properties of attitudes. Rationality requires coherence between your attitudes, such as your beliefs, values, and intentions. We define three 'logical' conditions on attitudes: consistency, completeness, and closedness. They parallel the familiar logical conditions on beliefs, but contrast with standard rationality conditions like preference transitivity. We establish a formal correspondence between our logical conditions and standard rationality conditions. Addressing John Broome's programme 'rationality through reasoning', we (...)
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  18. Is Honesty Rational?1.Giorgio Sbardolini - 2022 - Philosophical Quarterly 72 (4):979-1001.
    According to the Maxim of Quality, rational agents tend to speak honestly. Due to the influence of Grice, a connection between linguistic rationality and honesty is often taken for granted. However, the connection is not obvious: structural rationality in language use does not require honesty, any more than it requires dishonesty. In particular, Quality does not follow from the Cooperative Principle and structural rationality. But then what is honest rational speech? I propose to move the discussion in (...)
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  19. Can Economics can be a separate Science?Lukas Beck - 2017 - Rerum Causae 9 (2):17-36.
    Mill (1872, 1874) is an early proponent of the thesis that economics has a special domain in which it can operate relatively independently of findings from other sciences. Contra Mill, I argue that this so-called separateness-thesis is best defendedunder an externalist interpretation of Rational Choice Theory (RCT). Mill’s defence is consistent with an internalist interpretation of RCT. Internalism holds that RCT depicts psychological mechanisms operating in economic agents. I argue that such a defence fails to establish separateness, because it (...)
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  20. The Malthus-Ricardo Correspondence: Sequential structure, argumentative patterns, and rationality.Marcelo Dascal & Sergio Volodia Marcello Cremaschi - 1999 - Journal of Pragmatics 31 (9):1129-1172.
    Although the controversy between Malthus and Ricardo has long been considered to be an important source for the history of economic thought, it has hardly been the object of a careful study qua controversy, i.e. as a polemical dialogical exchange. We have undertaken to fill this gap, within the framework of a more ambitious project that places controversies at the center of an account of the history of ideas, in science and elsewhere. It is our contention that the dialogical (...)
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  21. In Favor of Mentalism in Economics: A Conversation with Christian List.Christian List & Catherine Herfeld - forthcoming - In Catherine Herfeld (ed.), Conversations on Rational Choice. Cambridge University Press.
    This is an edited transcript of a conversation to be included in the collection "Conversations on Rational Choice". The conversation was conducted in Munich on 7 and 9 February 2016.
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  22. Rational Intransitive Preferences.Peter Baumann - 2022 - Politics, Philosophy and Economics 21 (1):3-28.
    According to a widely held view, rationality demands that the preferences of a person be transitive. The transitivity assumption is an axiom in standard theories of rational choice. It is also prima facie very plausible. I argue here that transitivity is not a necessary condition of rationality; it is a constraint only in some cases. The argument presented here is based on the non-linearity of differential utility functions. This paper has four parts. First, I present an argument against (...)
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  23. Learning, Institutions, and Economic Performance.C. Mantzavinos - 2004 - Perspectives on Politics 2:75-84.
    In this article, we provide a broad overview of the interplay among cognition, belief systems, and institutions, and how they affect economic performance. We argue that a deeper understanding of institutions’ emergence, their working properties, and their effect on economic and political outcomes should begin from an analysis of cognitive processes. We explore the nature of individual and collective learning, stressing that the issue is not whether agents are perfectly or boundedly rational, but rather how human beings actually (...)
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  24. The very idea of rational irrationality.Spencer Paulson - 2024 - Politics, Philosophy and Economics 23 (1):3-21.
    I am interested in the “rational irrationality hypothesis” about voter behavior. According to this hypothesis, voters regularly vote for policies that are contrary to their interests because the act of voting for them isn’t. Gathering political information is time-consuming and inconvenient. Doing so is unlikely to lead to positive results since one's vote is unlikely to be decisive. However, we have preferences over our political beliefs. We like to see ourselves as members of certain groups (e.g. “rugged individualists”) and being (...)
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  25. The Economics and Philosophy of Risk.H. Orri Stefansson - 2022 - In Conrad Heilmann & Julian Reiss (eds.), Routledge Handbook of Philosophy of Economics. Routledge.
    Neoclassical economists use expected utility theory to explain, predict, and prescribe choices under risk, that is, choices where the decision-maker knows---or at least deems suitable to act as if she knew---the relevant probabilities. Expected utility theory has been subject to both empirical and conceptual criticism. This chapter reviews expected utility theory and the main criticism it has faced. It ends with a brief discussion of subjective expected utility theory, which is the theory neoclassical economists use to explain, predict, and prescribe (...)
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  26. The Birth of Spiritual Economics.Robert Allinson - 2004 - In László Zsolnai (ed.), Spirituality and ethics in management. Boston, Mass.: Kluwer Academic. pp. 61-74.
    Man essentially is a being who pursues meaning and love. Socrates’ speech in the Symposium well characterizes man as driven by Eros, or Love. Socrates, expounding Diotema’s Ladder of Love, explains that man is driven by the erotic impulse. Nowhere in her teachings does Diotema mention the concept of self-interest or maximizing profit as the essential nature of man. Despite this, the concept of man as the rational economic man dominates the human stage of thought. Why and how has (...)
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  27. Basic ecclesial community and economics of compassion.Willard Enrique R. Macaraan - 2013 - Journal of Dharma 38 (2):147-166.
    The current appeal of non-standard economic alternatives is backgrounded against the vulnerability of mainstream capitalism to meltdown and crisis as shown in recent times. There is an increasing number of governments, institutions, and civil societies (NGOs) that have been advocating economic systems, structures, or dynamics that would promote the good of the human person (dignity, personhood, values, and worth). People have started to realize that doing economics is not always within the realm of rationalized judgments and mathematized calculations (...)
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  28.  36
    (1 other version)Mature Theory-Change in Economics.Rinat M. Nugayev - 2010 - In Ildar Talip-Uli Nasretdinoff (ed.), The Problems of Cooperation.Moscow, Russian University of Cooperation. pp. 327-331.
    What are the reasons for theory change in economics? – The author tries to give a sober answer on the basis of his epistemological model reconstructing the internal aspects of theory change. It is conjectures that a more subtle approach including the external facets can be provided with the “communicative rationality” concept. Key words: economics, theory change, internalism, external factors .
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  29. Modèle rationnel ou modèle économique de la rationalité?Philippe Mongin - 1984 - Revue Economique 35 (1):9-63.
    This article critically discusses the concept of economic rationality, arguing that it is too narrow and specific to encompass the full concept of practical rationality. Economic rationality is identified here with the use of the optimizing model of decision, as well as of expected utility apparatus to deal with uncertainty. To argue that practical rationality is broader than economic rationality, the article claims that practical rationality includes bounded rationality as a (...)
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  30. Rational updating at the crossroads.Silvia Milano & Andrés Perea - 2024 - Economics and Philosophy 40 (1):190-211.
    In this paper we explore the absentminded driver problem using two different scenarios. In the first scenario we assume that the driver is capable of reasoning about his degree of absentmindedness before he hits the highway. This leads to a Savage-style model where the states are mutually exclusive and the act-state independence is in place. In the second we employ centred possibilities, by modelling the states (i.e. the events about which the driver is uncertain) as the possible final destinations indexed (...)
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  31. Human now versus human over time. When instrumental rationality and utility are not enough.Aleksander Ostapiuk - 2019 - Panoeconomicus 5 (66):633-657.
    The goal of this article is to show that instrumental rationality and utility that have been used in economics for many years does not work well. What is presented in the article is how significant the influence of utilitarianism has been on economics and why the economists get rid of humans’ goals and motivations. It is shown in the article that the human who decides in present is absolutely different from the human who decides over time. Many economists neglected (...)
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  32. Morals From Rationality Alone? Some Doubts.J. P. Messina & David Wiens - 2020 - Politics, Philosophy and Economics 19 (3):248-273.
    Contractarians aim to derive moral principles from the dictates of instrumental rationality alone. But it is well-known that contractarian moral theories struggle to identify normative principles that are both uniquely rational and morally compelling. Michael Moehler's recent book, *Minimal Morality* seeks to avoid these difficulties by developing a novel "two-level" social contract theory, which restricts the scope of contractarian morality to cases of deep and persistent moral disagreement. Yet Moehler remains ambitious, arguing that a restricted version of Kant's categorical (...)
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  33. The Role of Narratives in Transferring Rational Choice Models into Political Science.Alexandra Quack & Catherine Herfeld - forthcoming - History of Political Economy.
    One striking observation in the history of rational choice models is that those models have not only been used in economics but spread widely across the social and behavioral sciences. How do such model transfers proceed? By closely studying the early efforts to transfer such models by William Riker – a major protagonist in pushing the adoption of game theoretic models in political science – this article examines the transfer process as one of ‘translation’ by which abstract and mathematical rational (...)
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  34. Healthcare consumers’ sensitivity to costs: a reflection on behavioural economics from an emerging market.Quan-Hoang Vuong, Tung-Manh Ho, Hong-Kong Nguyen & Thu-Trang Vuong - 2018 - Palgrave Communications 4:70.
    Decision-making regarding healthcare expenditure hinges heavily on an individual's health status and the certainty about the future. This study uses data on propensity of general health exam (GHE) spending to show that despite the debate on the necessity of GHE, its objective is clear—to obtain more information and certainty about one’s health so as to minimise future risks. Most studies on this topic, however, focus only on factors associated with GHE uptake and overlook the shifts in behaviours and attitudes regarding (...)
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  35. Adversus “Adversus Homo Economicus”: Critique of the “Critique of Lester’s Account of Instrumental Rationality”.J. C. Lester - manuscript
    This essay goes through Frederick 2015 (the critique) in some detail, responding to the various paraphrases and criticisms therein. It is argued that in each case the critique is mistaken about what Lester 2012 (Escape from Leviathan: EfL) says, or about what the critique presents as a sound criticism, or both. Introduction: the three problems with the critique and the philosophical problem that EfL is attempting to solve. “Abstract”: the critique’s confusion about EfL’s aprioristic theory of instrumental rationality. There (...)
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  36. Economic decision-making systems in critical times: The case of `Bolsa Familia' in Brazil.Alfredo Pereira Junior & J. Moroni - 2022 - Cognitive Computation and Systems 4 (3):304-315.
    Kahneman's theory of two systems assumes that human decision making in Economy is based on two cognitive systems, one that is automatic, intuitive and mostly unconscious, and one that is reflexive, rational and fully conscious. The authors consider Kahneman’s approach incomplete and limited in accounting for the creativity of embodied agents grasping the opportunities afforded by physical and social environments. This limitation leads us to argue for the existence of a third system in decision making in Economy, the creative intuition (...)
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  37. The Eclipse of Value-Free Economics. The concept of multiple self versus homo economicus.Aleksander Ostapiuk - 2020 - Wrocław, Polska: Publishing House of Wroclaw University of Economics and Business.
    The books’ goal is to answer the question: Do the weaknesses of value-free economics imply the need for a paradigm shift? The author synthesizes criticisms from different perspectives (descriptive and methodological). Special attention is paid to choices over time, because in this area value-free economics has the most problems. In that context, the enriched concept of multiple self is proposed and investigated. However, it is not enough to present the criticisms towards value-free economics. For scientists, a bad paradigm is better (...)
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  38. Rawls on Just Savings and Economic Growth.Marcos Picchio - 2024 - Journal of Ethics and Social Philosophy 27 (2):341-370.
    In this article, I address a controversial aspect of Rawls’s treatment of the question of justice between generations: how the parties in the original position could be motivated to select Rawls’s preferred principle of intergenerational savings, which he dubs the just savings principle. I focus on the explanation found in his later work, where he proposes that the correct savings principle is the principle that any generation would have wanted preceding generations to have followed. By expanding upon this explanation, I (...)
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  39. Collective rationality: a dilemma for democrats but a solution through deliberation?Natalie Gold - 2004 - In Anne van Aaken, Christian List & Christoph Luetge (eds.), Deliberation and Decision: Economics, Constitutional Theory and Deliberative Democracy. Ashgate.
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  40. Hume on Rational Final Ends.Adrian M. S. Piper - 1988 - Philosophy Research Archives 14:193-228.
    Historically, the view, prevalent in contemporary economics and decision theory as well as philosophy, that rational action consists simply in satisfying one’s desires, whatever they may be, as efficiently as possible, is to be found first in Book II of Hume’s Treatise of Human Nature. This view has counterintuitive and self-refuting implications, in that it recognizes as rational behavior that may reveal a clear degree of irresponsibility or psychological instability. Accordingly, many Hume scholars have tried to show recently that this (...)
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  41. Morality by Tacit Agreement: A Contribution from the Economics of Emotions toward Moral Judgments.Kazuo Kadokawa - manuscript
    Current research on morality is divided into rationalist and intuitionist theories. This study shows that when individuals make rational choices, they are inevitably guided by the moral foundation of intuitionism. Especially to pursue self-interest, individuals must agree with others in society. They must keep their opinions constant to agree with others. To maintain a constant opinion, the individual assigns an opinion that can improve the utility of the other person and place both of them in the same situation. The actions (...)
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  42. A small step towards unification of economics and physics.Subhendu Bhattacharyya - 2021 - Mind and Society 20 (1):69-84.
    Unification of natural science and social science is a centuries-old, unmitigated debate. Natural science has a chronological advantage over social science because the latter took time to include many social phenomena in its fold. History of science witnessed quite a number of efforts by social scientists to fit this discipline in a rational if not mathematical framework. On the other hand a tendency among some physicists has been observed especially since the last century to recast a number of social phenomena (...)
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  43. Democracy after Deliberation: Bridging the Constitutional Economics/Deliberative Democracy Divide.Shane Ralston - 2007 - Dissertation, University of Ottawa
    This dissertation addresses a debate about the proper relationship between democratic theory and institutions. The debate has been waged between two rival approaches: on the one side is an aggregative and economic theory of democracy, known as constitutional economics, and on the other side is deliberative democracy. The two sides endorse starkly different positions on the issue of what makes a democracy legitimate and stable within an institutional setting. Constitutional economists model political agents in the same way that neoclassical (...)
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  44. (2 other versions)“Collective and individual rationality: Maynard Keynes's methodological standpoint and policy prescription”.Andy Denis - 2002 - Research in Political Economy 20:187-215.
    In a world of partially overlapping and partially conflicting interests there is good reason to doubt that self-seeking behaviour at the micro-level will spontaneously lead to desirable social outcomes at the macro-level. Nevertheless, some sophisticated economic writers advocating a laissez-faire policy prescription have proposed various 'invisible hand' mechanisms which can supposedly be relied upon to 'educe good from ill'. Smith defended the 'simple system of natural liberty' as giving the greatest scope to the unfolding of God's will and the (...)
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  45. Rationalizing Racism: Arizona Representatives Employment of Euphemisms for an Assault on Mexican American Studies.Maryam Miller - 2013 - Dissertation, The University of Arizona
    This study details the political climate and logic priming the termination of Mexican American Studies in elementary and high school programs within the state of Arizona. The author applies conceptual content analysis and intertextuality to decode euphemisms incorporated by opponents of the program. Primary sources by the state’s Attorney General Tom Horne and school board Superintendent of Public Instruction John Huppenthal are examined for rationales used in the elimination of a pedagogically empowering program for Latina/o students within Tucson Unified School (...)
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  46. Thinking the Human Being in Economics: from the Individual (homo oeconomicus) to the Person [Pensar o ser humano na Economia: do indivíduo (homo oeconomicus) à pessoa].Pedro McDade - 2008 - Brotéria 167 (4):243-263.
    How does economics understand the human being? In this article, I present the current dominant conception of the human being in neoclassical theory, which is usually labelled as 'homo oeconomicus' (economic man). I describe the traits of this anthropology, and present the historical context in which it emerged. Then I make its critical evaluation. This is followed by a discussion of two recent alternative conceptions of the human being, which try to go beyond the individualist 'homo economicus' paradigm. I (...)
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  47. Perpetual anarchy : From economic security to financial insecurity.S. M. Amadae - 2017 - Finance and Society 2 (3):188-96.
    This forum contribution addresses two major themes in de Goede’s original essay on ‘Financial security’: (1) the relationship between stable markets and the proverbial ‘security dilemma’; and (2) the development of new decision-technologies to address risk in the post-World War II period. Its argument is that the confluence of these two themes through rational choice theory represents a fundamental re-evaluation of the security dilemma and its relationship to the rule of law governing market relations, ushering in an era of perpetual (...)
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  48. Endogenous ambiguity and rational miscommunication.Toru Suzuki - 2023 - Journal of Economic Theory 211 (July).
    This paper studies a sender-receiver game in which both players want the receiver to choose the state-optimal action. Before observing the state, the sender observes a “contextual signal,” a payoff-irrelevant signal that correlates with states and is imperfectly shared with the receiver. Once the sender observes the state, the sender sends a message to the receiver, incurring a small messaging cost. It is shown that there is no miscommunication in any efficient equilibrium if the messaging cost is uniform or contextual (...)
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  49. The positive side of psychopathy: Emotional detachment in psychopathy and rational decision-making in the ultimatum game.Takahiro Osumi & Hideki Ohira - 2010 - Personality and Individual Differences 49:451–456.
    An emotional deficit in individuals with psychopathy has been regarded as a potential factor in the disinhibition of selfish behaviors, which can be an impediment to a successful life in human society. However, recent studies in the field of economics have made clear that emotional function is associated with irrational decision-making. In the present study, to test whether psychopathy may have a positive aspect in a social setting, we examined the decision-making of college students with high and low tendencies for (...)
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  50. The Sunk Cost "Fallacy" Is Not a Fallacy.Ryan Doody - 2019 - Ergo: An Open Access Journal of Philosophy 6:1153-1190.
    Business and Economic textbooks warn against committing the Sunk Cost Fallacy: you, rationally, shouldn't let unrecoverable costs influence your current decisions. In this paper, I argue that this isn't, in general, correct. Sometimes it's perfectly reasonable to wish to carry on with a project because of the resources you've already sunk into it. The reason? Given that we're social creatures, it's not unreasonable to care about wanting to act in such a way so that a plausible story can be (...)
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