Results 271 to 280 of about 145,906 (324)
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Economica, 1991
Quantity rationing is often observed to occur in actual markets where quality is difficult to observe. Standard theory suggests such markets must be in disequilibrium, since firms could increase profits by raising price. This paper develops a model in which consumers learn about firm quality from noisy observations of output quality.
Allen, Franklin, Faulhaber, Gerald R
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Quantity rationing is often observed to occur in actual markets where quality is difficult to observe. Standard theory suggests such markets must be in disequilibrium, since firms could increase profits by raising price. This paper develops a model in which consumers learn about firm quality from noisy observations of output quality.
Allen, Franklin, Faulhaber, Gerald R
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WIREs Cognitive Science, 2013
A theory of rationality is a theory that evaluates instances of reasoning as rational, irrational, or (ir)rational to some degree. Theories can be categorized as rule‐based or consequentialist. Rule‐based theories say that rational reasoning accords with certain rules (e.g., of logic or probability).
Clifford, Sosis, Michael A, Bishop
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A theory of rationality is a theory that evaluates instances of reasoning as rational, irrational, or (ir)rational to some degree. Theories can be categorized as rule‐based or consequentialist. Rule‐based theories say that rational reasoning accords with certain rules (e.g., of logic or probability).
Clifford, Sosis, Michael A, Bishop
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International Economic Review, 2016 The life cycle/permanent income hypothesis (LCPIH) entails two postulates: People have rational expectations and people do not have problems with self‐control. If either or both of these postulates do not apply, we cannot obtain a testable implication for the LCPIH.
Kohei Kubota, Mototsugu Fukushige
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Annual Review of Psychology, 2002
▪ Abstract This chapter reviews selected findings in research on reasoning, judgment, and choice and considers the systematic ways in which people violate basic requirements of the corresponding normative analyses. Recent objections to the empirical findings are then considered; these objections question the findings' relevance to assumptions about ...
Eldar, Shafir, Robyn A, LeBoeuf
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▪ Abstract This chapter reviews selected findings in research on reasoning, judgment, and choice and considers the systematic ways in which people violate basic requirements of the corresponding normative analyses. Recent objections to the empirical findings are then considered; these objections question the findings' relevance to assumptions about ...
Eldar, Shafir, Robyn A, LeBoeuf
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Clinical Ethics, 2008
Triage-like procedures for solving the problems of rationing cannot work. And anyway, why should health- and medical workers carry the can for the economic and political decisions of their managers and our politicians? To foist rationing decisions onto them is a political con-trick, a deliberate attempt to deflect managerial and political ...
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Triage-like procedures for solving the problems of rationing cannot work. And anyway, why should health- and medical workers carry the can for the economic and political decisions of their managers and our politicians? To foist rationing decisions onto them is a political con-trick, a deliberate attempt to deflect managerial and political ...
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Are `Rational Conjectures' Rational?
The Journal of Industrial Economics, 1987The concepts of 'rational conjectures' and 'reasonable conjectures' are critically reviewed. It is shown that their operation depends crucially on an invisible, non-optimizing 'deus ex machina'. Hence, these concepts are not really suitable for understanding competition among optimizing firms.
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Rationality and Bounded Rationality
Games and Economic Behavior, 1997The author enumerates five objections against various economic models. In particular, he argues that there is no unified theory of bounded rationality, but that the development of computer science, complexity theory and so on created an intellectual climate conducive to the development of the theory of bounded rationality. Specially, the preparation of
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Hastings Center Report, 2015
AbstractA commentary on “Why It's Not Time for Health Care Rationing,” by Peter A. Ubel, in the March‐April 2015 issue.
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AbstractA commentary on “Why It's Not Time for Health Care Rationing,” by Peter A. Ubel, in the March‐April 2015 issue.
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