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Author: Markus Zenner
Publisher: Springer Science & Business Media
ISBN: 3642518761
Category : Business & Economics
Languages : en
Pages : 209
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Book Description
1. 1 Rational Expectations and Learning to Become Rational A characteristic feature of dynamic economic models is that, if future states of the economy are uncertain, the expectations of agents mat ter. Producers have to decide today which amount of a good they will produce not knowing what demand will be tomorrow. Consumers have to decide what they spend for consumption today not knowing what prices will prevail tomorrow. Adopting the neo-classical point of view that economic agents are 'rational' in the sense that they behave in their own best interest given their expectations about future states of the ecomomy it is usually assumed that agents are Bayesian deci sion makers. But, as LUCAS points out, there remains an element of indeterminacy: Unfortunately, the general hypothesis that economic agents are Bayesian decision makers has, in many applications, lit tle empirical content: without some way of infering what an agent's subjective view of the future is, this hypothesis is of no help in understanding his behavior. Even psychotic behavior can be (and today, is) understood as "rational", given a sufficiently abnormal view of relevant probabili ties. To practice economics, we need some way (short of psychoanalysis, one hopes) of understanding which decision problem agents are solving. (LucAs (1977, p. 15)) 2 CHAPTER 1. INTRODUCTION 1. 1.
Author: Markus Zenner
Publisher: Springer Science & Business Media
ISBN: 3642518761
Category : Business & Economics
Languages : en
Pages : 209
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Book Description
1. 1 Rational Expectations and Learning to Become Rational A characteristic feature of dynamic economic models is that, if future states of the economy are uncertain, the expectations of agents mat ter. Producers have to decide today which amount of a good they will produce not knowing what demand will be tomorrow. Consumers have to decide what they spend for consumption today not knowing what prices will prevail tomorrow. Adopting the neo-classical point of view that economic agents are 'rational' in the sense that they behave in their own best interest given their expectations about future states of the ecomomy it is usually assumed that agents are Bayesian deci sion makers. But, as LUCAS points out, there remains an element of indeterminacy: Unfortunately, the general hypothesis that economic agents are Bayesian decision makers has, in many applications, lit tle empirical content: without some way of infering what an agent's subjective view of the future is, this hypothesis is of no help in understanding his behavior. Even psychotic behavior can be (and today, is) understood as "rational", given a sufficiently abnormal view of relevant probabili ties. To practice economics, we need some way (short of psychoanalysis, one hopes) of understanding which decision problem agents are solving. (LucAs (1977, p. 15)) 2 CHAPTER 1. INTRODUCTION 1. 1.
Author: Shaun Nichols
Publisher: Oxford University Press, USA
ISBN: 0198869150
Category : Philosophy
Languages : en
Pages : 265
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Book Description
Rational Rules argues that moral learning can be understood in terms of general-purpose rational learning procedures. Nichols provides statistical learning accounts of some fundamental aspects of moral development, combining aspects of traditional empiricist and rationalist approaches.
Author: Simon M. Huttegger
Publisher: Cambridge University Press
ISBN: 1108509150
Category : Philosophy
Languages : en
Pages : 239
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Book Description
According to Bayesian epistemology, rational learning from experience is consistent learning, that is learning should incorporate new information consistently into one's old system of beliefs. Simon M. Huttegger argues that this core idea can be transferred to situations where the learner's informational inputs are much more limited than Bayesianism assumes, thereby significantly expanding the reach of a Bayesian type of epistemology. What results from this is a unified account of probabilistic learning in the tradition of Richard Jeffrey's 'radical probabilism'. Along the way, Huttegger addresses a number of debates in epistemology and the philosophy of science, including the status of prior probabilities, whether Bayes' rule is the only legitimate form of learning from experience, and whether rational agents can have sustained disagreements. His book will be of interest to students and scholars of epistemology, of game and decision theory, and of cognitive, economic, and computer sciences.
Author: Christophe Chamley
Publisher: Cambridge University Press
ISBN: 9780521530927
Category : Business & Economics
Languages : en
Pages : 420
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Book Description
Publisher Description
Author: Windy Dryden
Publisher: Routledge
ISBN: 1136597573
Category : Psychology
Languages : en
Pages : 306
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Book Description
Mistakes are often an inevitable part of training; Learning from Mistakes in Rational Emotive Behaviour Therapy encourages the trainee to pinpoint potential errors at the earliest possible stage in training, helping them to make fast progress towards becoming competent REBT practitioners. Windy Dryden and Michael Neenan have compiled 111 of the most common errors, explaining what has gone wrong and how to put it right, and have divided them into eight accessible parts: general mistakes assessment mistakes goal-setting mistakes disputing mistakes homework mistakes mistakes in dealing with client doubts and misconceptions working through mistakes self-maintenance. Learning from Mistakes in Rational Emotive Behaviour Therapy is an indispensable guide for anyone embarking on a career in the REBT field.
Author: Juan Comesaña
Publisher:
ISBN: 0198847718
Category : Mathematics
Languages : en
Pages : 235
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Book Description
Juan Comesaña presents a new framework for understanding the rationality of action and belief, which he calls Experientalism. Arguing that rational action requires rational belief but tolerates false belief, Comesaña provides a novel account of empirical evidence as consisting of the content of undefeated experiences.
Author: DEMETRIS. KATSIKIS
Publisher: Routledge
ISBN: 9780367701789
Category :
Languages : en
Pages : 0
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Book Description
Towards Rational Education explores how education can become rational by serving character building, rational thinking and the common good. It uses evidence-based psychology, philosophy, sociology and political science to support transforming education and provides a brand-new framework for effective universal education. This book endorses Rational-Emotive Behavior Theory (REBT) and rational education philosophy theories as main vehicles paving a viable set of rational education values and practices. Collective wisdom, rational living, freedom, mental health, altruism, solidarity, equality and fraternity are seen as the foundational values for shaping already existing schools of the world become more rational and in establishing Rational Education Communities (REC) and Rational Schools (RS). Calling for a philosophical and socio-political shift in education values and practices, the book cites principles, tools and practices that rational educators, philosophers, psychologists, other related scientists-practitioners and people have offered us as a legacy for building a more rational and positive education for all people universally, without sacrificing cultural sensitivity and expressivity. This book will be of great interest for the general audience and a special interest for academics, researchers and post-graduate students in the fields of the philosophy of education, positive psychology, educational psychology and educational policy.
Author: Keith E. Stanovich
Publisher: MIT Press
ISBN: 0262034840
Category : Psychology
Languages : en
Pages : 479
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Book Description
How to assess critical aspects of cognitive functioning that are not measured by IQ tests: rational thinking skills. Why are we surprised when smart people act foolishly? Smart people do foolish things all the time. Misjudgments and bad decisions by highly educated bankers and money managers, for example, brought us the financial crisis of 2008. Smart people do foolish things because intelligence is not the same as the capacity for rational thinking. The Rationality Quotient explains that these two traits, often (and incorrectly) thought of as one, refer to different cognitive functions. The standard IQ test, the authors argue, doesn't measure any of the broad components of rationality—adaptive responding, good judgment, and good decision making. The authors show that rational thinking, like intelligence, is a measurable cognitive competence. Drawing on theoretical work and empirical research from the last two decades, they present the first prototype for an assessment of rational thinking analogous to the IQ test: the CART (Comprehensive Assessment of Rational Thinking). The authors describe the theoretical underpinnings of the CART, distinguishing the algorithmic mind from the reflective mind. They discuss the logic of the tasks used to measure cognitive biases, and they develop a unique typology of thinking errors. The Rationality Quotient explains the components of rational thought assessed by the CART, including probabilistic and scientific reasoning; the avoidance of “miserly” information processing; and the knowledge structures needed for rational thinking. Finally, the authors discuss studies of the CART and the social and practical implications of such a test. An appendix offers sample items from the test.
Author: Daniel Kahneman
Publisher: Farrar, Straus and Giroux
ISBN: 1429969350
Category : Psychology
Languages : en
Pages : 511
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Book Description
*Major New York Times Bestseller *More than 2.6 million copies sold *One of The New York Times Book Review's ten best books of the year *Selected by The Wall Street Journal as one of the best nonfiction books of the year *Presidential Medal of Freedom Recipient *Daniel Kahneman's work with Amos Tversky is the subject of Michael Lewis's best-selling The Undoing Project: A Friendship That Changed Our Minds In his mega bestseller, Thinking, Fast and Slow, Daniel Kahneman, world-famous psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Topping bestseller lists for almost ten years, Thinking, Fast and Slow is a contemporary classic, an essential book that has changed the lives of millions of readers.
Author: Errol Lord
Publisher: Oxford University Press
ISBN: 0192546759
Category : Philosophy
Languages : en
Pages : 278
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Book Description
The Importance of Being Rational systematically defends a novel reasons-based account of rationality. The book's central thesis is that what it is for one to be rational is to correctly respond to the normative reasons one possesses. Errol Lord defends novel views about what it is to possess reasons and what it is to correctly respond to reasons. He shows that these views not only help to support the book's main thesis, they also help to resolve several important problems that are independent of rationality. The account of possession provides novel contributions to debates about what determines what we ought to do, and the account of correctly responding to reasons provides novel contributions to debates about causal theories of reacting for reasons. After defending views about possession and correctly responding, Lord shows that the account of rationality can solve two difficult problems about rationality. The first is the New Evil Demon problem. The book argues that the account has the resources to show that internal duplicates necessarily have the same rational status. The second problem concerns the deontic significance of rationality. Recently it has been doubted whether we ought to be rational. The ultimate conclusion of the book is that the requirements of rationality are the requirements that we ultimately ought to comply with. If this is right, then rationality is of fundamental importance to our deliberative lives.
