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Author: Michel Zouboulakis
Publisher: Routledge
ISBN: 1317817494
Category : Business & Economics
Languages : en
Pages : 188
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Book Description
The concept of economic rationality is important for the historical evolution of Economics as a scientific discipline. The common idea about this concept -even between economists- is that it has a unique meaning which is universally accepted. This new volume argues that "economic rationality" is not not a universal concept with one single meaning, and that it in fact has different, if not conflicting, interpretations in the evolution of discourse on economics. In order to achieve this, the book traces the historical evolution of the concept of economic rationality from Adam Smith to the present, taking in thinkers from Mill to Friedman, and encompassing approaches from neoclassical to behavioural economics. The book charts this history in order to reveal important instances of conceptual transformation of the meaning of economic rationality. In doing so, it presents a uniquely detailed study of the historical change of the many faces of the homo oeconomicus .
Author: Michel Zouboulakis
Publisher: Routledge
ISBN: 1317817494
Category : Business & Economics
Languages : en
Pages : 188
Get Book Here
Book Description
The concept of economic rationality is important for the historical evolution of Economics as a scientific discipline. The common idea about this concept -even between economists- is that it has a unique meaning which is universally accepted. This new volume argues that "economic rationality" is not not a universal concept with one single meaning, and that it in fact has different, if not conflicting, interpretations in the evolution of discourse on economics. In order to achieve this, the book traces the historical evolution of the concept of economic rationality from Adam Smith to the present, taking in thinkers from Mill to Friedman, and encompassing approaches from neoclassical to behavioural economics. The book charts this history in order to reveal important instances of conceptual transformation of the meaning of economic rationality. In doing so, it presents a uniquely detailed study of the historical change of the many faces of the homo oeconomicus .
Author: Michel Zouboulakis
Publisher: Routledge
ISBN: 1317817486
Category : Business & Economics
Languages : en
Pages : 189
Get Book Here
Book Description
The concept of economic rationality is important for the historical evolution of Economics as a scientific discipline. The common idea about this concept -even between economists- is that it has a unique meaning which is universally accepted. This new volume argues that "economic rationality" is not not a universal concept with one single meaning, and that it in fact has different, if not conflicting, interpretations in the evolution of discourse on economics. In order to achieve this, the book traces the historical evolution of the concept of economic rationality from Adam Smith to the present, taking in thinkers from Mill to Friedman, and encompassing approaches from neoclassical to behavioural economics. The book charts this history in order to reveal important instances of conceptual transformation of the meaning of economic rationality. In doing so, it presents a uniquely detailed study of the historical change of the many faces of the homo oeconomicus .
Author: Bo Gustafsson
Publisher: Routledge
ISBN: 113487328X
Category : Business & Economics
Languages : en
Pages : 332
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Book Description
Looks at ways to increase the scope and power of institutional economics. Different approaches to economic methodology are considered and the broader notions of rationality offered by institutional economics are discussed.
Author: Colin P. Elliott
Publisher: Cambridge University Press
ISBN: 1108418600
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
Reconceptualizes economic theory as a tool for understanding the Roman monetary system and its social and cultural contexts.
Author: Maurice Lagueux
Publisher: Routledge
ISBN: 1135150346
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
This book analyses the role of rationality in economics focusing on which conditions the rationality assumption makes valuable explanations possible and what kinds of explanation are then involved.
Author: Karen Schweers Cook
Publisher: University of Chicago Press
ISBN: 0226742415
Category : Political Science
Languages : en
Pages : 436
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Book Description
Prevailing economic theory presumes that agents act rationally when they make decisions, striving to maximize the efficient use of their resources. Psychology has repeatedly challenged the rational choice paradigm with persuasive evidence that people do not always make the optimal choice. Yet the paradigm has proven so successful a predictor that its use continues to flourish, fueled by debate across the social sciences over why it works so well. Intended to introduce novices to rational choice theory, this accessible, interdisciplinary book collects writings by leading researchers. The Limits of Rationality illuminates the rational choice paradigm of social and political behavior itself, identifies its limitations, clarifies the nature of current controversies, and offers suggestions for improving current models. In the first section of the book, contributors consider the theoretical foundations of rational choice. Models of rational choice play an important role in providing a standard of human action and the bases for constitutional design, but do they also succeed as explanatory models of behavior? Do empirical failures of these explanatory models constitute a telling condemnation of rational choice theory or do they open new avenues of investigation and theorizing? Emphasizing analyses of norms and institutions, the second and third sections of the book investigate areas in which rational choice theory might be extended in order to provide better models. The contributors evaluate the adequacy of analyses based on neoclassical economics, the potential contributions of game theory and cognitive science, and the consequences for the basic framework when unequal bargaining power and hierarchy are introduced.
Author: Vernon L. Smith
Publisher:
ISBN: 9781107386440
Category : Constructivism (Philosophy)
Languages : en
Pages : 364
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Book Description
The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of F.A. Hayek.
Author: Charalambos D. Aliprantis
Publisher: Springer Science & Business Media
ISBN: 354029578X
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
This book contains a collection of original and state-of-the-art contributions in rational choice and general equilibrium theory. Among the topics are preferences, demand, equilibrium, core allocations, and testable restrictions. The contributing authors are Daniel McFadden, Rosa Matzkin, Emma Moreno-Garcia, Roger Lagunoff, Yakar Kannai, Myrna Wooders, James Moore, Ted Bergstrom, Luca Anderlini, Lin Zhou, Mark Bagnoli, Alexander Kovalenkov, Carlos Herves-Beloso, Michaela Topuzu, Bernard Cornet, Andreu Mas-Colell and Nicholas Yannelis.
Author: Onno Bouwmeester
Publisher: Taylor & Francis
ISBN: 1317530764
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
There are many different forms of rationality. In current economic discourse the main focus is on instrumental rationality and optimizing, while organization scholars, behavioural economists and policy scientists focus more on bounded rationality and satisficing. The interplay with value rationality or expressive rationality is mainly discussed in philosophy and sociology, but never in an empirical way. This book shows that not one, but three different forms of rationality (subjective, social and instrumental) determine the final outcomes of strategic decisions executed by major organizations. Based on an argumentation analysis of six high-profile public debates, this book adds nuance to the concept of bounded rationality. The chapters show how it is socially constructed, and thus dependent on shared beliefs or knowledge, institutional context and personal interests. Three double case studies investigating the three rationalities illustrate how decision makers and stakeholders discuss the appropriateness of these rationalities for making decisions in different practice contexts. The first touches more on personal concerns, like wearing a niqab or looking at obscene art exposed in a public environment; the second investigates debates on improving the rights and position of specific minorities; and the third is based on the agreement on instrumental reasons for two kinds of investments, but the cost arguments are regarded less relevant when social norms or personal interests are violated. The Social Construction of Rationality is for those who study political economy, economic psychology and public policy, as well as economic theory and philosophy.
Author: Maurice Godelier
Publisher: Verso Books
ISBN: 1781689857
Category : Social Science
Languages : en
Pages : 414
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Book Description
This book is the result of a research project begun by the author in 1958 with the aim of answering two questions: First, what is the rationality of the economic systems that appear and disappear throughout history-in other words, what is their hidden logic and the underlying necessity for them to exist, or to have existed? Second, what are the conditions for a rational understanding of these systems-in other words, for a fully developed comparative economic science? The field of investigation opened up by these two questions is vast, touching on the foundations of social reality and on how to understand them. The author, being a Marxist, sought the answers, as he writes, 'not in philosophy or by philosophical means, but in and through examining the knowledge accumulated by the sciences.' The stages of his journey from philosophy to economics and then to anthropology are indicated by the divisions of his book. Godelier rejects, at the outset, any attempt to tackle the question of rationality or irrationality of economic science and of economic realities from the angle of an a priori idea, a speculative definition of what is rational. Such an approach can yield only, he feels, an ideological result. Rather, he treats the appearance and disappearance of social and economic systems in history as being governed by a necessity 'wholly internal to the concrete structures of social life.
