Search Results for: Rationality In Economics

Standard economics theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor,

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by

Prevailing economic theory presumes that agents act rationally when they make decisions, striving to maximize the efficient use of their resources. Psychology h

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 economi

The concept of economic rationality is important for the historical evolution of Economics as a scientific discipline. The common idea about this concept -even