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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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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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A perspective on judgment and choice: mapping bounded rationality.
American Psychologist, 2003D. Kahneman
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