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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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European Journal of Political Economy, 1996
Abstract This paper investigates a simple three-good two-sector macromodel with fixed prices. In order to omit any ad hoc assumptions about the market outcomes we analyse the model as a game played by (fully) rational players. Whereas the notion of rationality underlying the concept of Nash equilibria implies a multiplicity of solutions (with ...
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Abstract This paper investigates a simple three-good two-sector macromodel with fixed prices. In order to omit any ad hoc assumptions about the market outcomes we analyse the model as a game played by (fully) rational players. Whereas the notion of rationality underlying the concept of Nash equilibria implies a multiplicity of solutions (with ...
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Rational care before rationed care
Internal Medicine Journal, 2002Australia’s health-care system is functioning well.Health expenditure is within reasonable bounds andis almost exactly what would be predicted from inter-national comparisons, given the size of our economy.That does not stop doomsayers from speculating that,within a short time frame, costs will escalate out ofcontrol.
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Credit Rationing and Rational Behavior
Journal of Money, Credit and Banking, 1994This paper shows that optimal consumption is weakly increasing in the borrowing ceiling, while savings and the welfare losses caused by borrowing constraints are weakly decreasing. More important, the strict inequalities may hold even at high saving levels at which the constraints are not expected to bind any time soon. In essence, the paper shows that
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Rationalization and Rationality
2010This is our starting point: Rationality. If you want to understand decision making, the first step is to define what a rational choice is. This has always been the first task for students of decision making.i However, it doesn’t have to be like that.
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Energy-related behaviour and rebound when rationality, self-interest and willpower are limited
Nature Energy, 2021Filippos Exadaktylos +1 more
exaly
Social Rationality versus Rational Egoism
2006Rationality means many different things to many different people. Some use the term to indicate individuals' ability to exercise reason. Others use it to indicate that something is the result of reasoning or even of conscious calculation. Some use the term to indicate that purposes are being served, so that "rational action" is the same as purposeful ...
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