Economic Decisions by Approved Principles: Rules of Thumb as Behavioral Guidelines [PDF]
, 2000 We discuss the relevance of the concept of rational behavior in economic theory and suggest, on the basis of modern brain research results, to abstain from this notion and instead to apply behavioral rules of thumb in decision-making, especially if these
Buhr, Walter, Christiaans, Thomas
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Freaconomics. Behavioral economics. Non-rational behavior
, 2018 Behavioral economics as a branch of science at the intersection of economics, sociology and epistemology determines and highlights the issues of choice and decision-making on certain processes that are passing and directly related to human economic activity.
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Does bounded rationality lead to individual heterogeneity? The impact of the experimentation process and of memory constraints [PDF]
In this paper we explore the effect of bounded rationality on the convergence of individual behavior toward equilibrium. In the context of a Cournot game with a unique and symmetric Nash equilibrium, firms are modeled as adaptive economic agents through ...
Marco Casari
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Maps of Bounded Rationality: Psychology for Behavioral Economics
American Economic Review, 2003 Daniel Kahneman received the Nobel Prize in economics sciences in 2002, December 8, Stockholm, Sweden. This article is the edited version of his Nobel Prize lecture. The author comes back to the problems he has studied with the late Amos Tversky and to debates conducting for several decades already.
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A Model of Foreign Exchange Rate Indetermination [PDF]
Economic agents undertake actions to protect themselves from the short-run impact of foreign exchange rate fluctuations: Nominal goods prices are set in consumers' currencies, and firms hedge foreign exchange risk.
Charles Engel
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Statistics as a Reflection of the Influence of Factors on the Economic Behavior of Households
Статистика и экономикаThe purpose of the study is to substantiate the criteria and develop classifications of factors influencing the economic behavior of households. The relevance of the study is due to the importance of economic behavior, which is influenced by various ...
N. D. Kremlev
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Monitoring, Motivation and Management: The Determinants of Opportunistic Behavior in a Field Experiment [PDF]
Economic models of incentives in employment relationships are based on a specific theory of motivation. Employees are 'rational cheaters,' who anticipate the consequences of their actions and shirk when the perceived marginal benefit exceeds the marginal
Daniel Nagin +3 more
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Economic ethics: epistemological status and content
Епістемологічні дослідження у філософії, соціальних і політичних науках, 2013 As economic ethics understand set of rules, norms, the principles of behavior of managing subjects, imperatives and the demands made by society to nature of actions and the relations between them.
A. Razin
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Maximum Likelihood Estimation of Dynamic Stochastic Theories with an Application to New Keynesian Pricing [PDF]
This paper proposes a novel Maximum Likelihood (ML) strategy to estimate Euler equations implied by dynamic stochastic theories. The strategy exploits rational expectations cross-equation restrictions, but circumvents the problem of multiple solutions ...
André Kurmann
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"Large Market Design in Dominance" [PDF]
This paper introduces a new concept of market mechanism design into general economic environments with finite but many traders, where multiple objects are traded and any combination of complements and substitutes is permitted.
Hitoshi Matsushima
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