Results 261 to 270 of about 575,030 (313)

Can behavioral economists improve economic rationality?

Public Choice, 2017
Behavioral economists recognize that we are all subject to the cognitive biases they have observed and studied in laboratory experiments. Yet the leading behavioral economists exhibit far more interest in applying those biases to market decisions than to political decision-, and see irrational decisions making as another example of market failure which
Dwight R. Lee, J. R. Clark
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Rationality and economic behavior

Journal of Economic Methodology, 1996
This paper rejects the idea that rationality can be defined as optimization, on theoretic, empirical and methodological grounds. It proposes instead a more general theory of rational action in the context of individual growth, change and development over time, in an uncertain world of social interaction, in which choices are part of a learning process.
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Rational Economic Behavior- Interdisciplinary Approach

2014
Behavioral economics and economic sociology arise and develop on the point where economics and psychology, as well as economics and sociology, overlap. Behavioral economics studies economic factors and psychological appearance that have a direct impact on economic behavior.
Hafner, Petar, Krstic, Milos, Hafner, Petar, Krstic, Milos   +3 more
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From Bounded Rationality to Behavioral Economics [PDF]

SSRN Electronic Journal, 2005
The paper examines the way traditional theory of rationality has been revised following new approaches based upon behaviourism and experimental economics. Particular attention is given to the early experimental methods of Maurice Allais with which he criticised the descriptive and predictive powers of the orthodox theory of choice and specifically ...
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Rational behavior and economic theory

Journal of Economic Behavior & Organization, 1996
Abstract Nowadays, it seems almost universally presumed that the fundamental characteristic of homo oeconomicus is his rationality. We analyze the role played by the concept of rationality in economic theory, and demonstrate that it is necessarily constrained to be an essentially contentless notion.
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Rational choice and economic behavior

Theory and Decision, 1971
This paper discusses several concepts that can be used to provide a foundation for a unified, theory of rational, economic behavior. First, decision-making is defined to be a process that takes place with reference to both ‘subjective’ and ‘objective’ time, that distinguishes between plans and actions, between information and states and that explicitly
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The rational-behavioral debate in financial economics

Journal of Economic Methodology, 2004
The contest between rational and behavioral finance is poorly understood as a contest over 'testability' and 'predictive success.' In fact, neither rational nor behavioral finance offer much in the way of testable predictions of improving precision. Researchers in the rational paradigm seem to have abandoned testability and prediction in favor of a ...
Alon Brav, J.B. Heaton, Alexander Rosenberg   +2 more
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Reconciling Psychology with Economics: Obesity, Behavioral Biology, and Rational Overeating [PDF]

SSRN Electronic Journal, 2006
The modern phenomenon of obesity is an archetypal example of a behavior whose explanation simultaneously falls within the purview of psychology, economics, and the biological sciences. While psychologists and advocates of public health have long viewed overeating as a weakness or disease in need of treatment, economists have pointed out that—like any ...
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Escaping paternalism: rationality, behavioral economics, and public policy

Journal of Economic Methodology, 2021
In their new book Escaping Paternalism, Glen Whitman and Mario Rizzo try to persuade readers to be skeptical of behavioral paternalism (Rizzo & Whitman, 2019).
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Adjustment Lags, Economically Rational Expectations and Price Behavior

The Review of Economics and Statistics, 1981
source and the extent of lags in the response of prices to changes in various explanatory variables. Knowledge of the relevant lag patterns is of obvious importance for forecasting movements in prices and for formulating policies that are designed to reduce the rate of inflation.
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