Predictably Rational?

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In Search of Defenses for Rational Behavior in Economics

ISBN: 3642015859
ISBN 13: 9783642015854
Autor: McKenzie, Richard B
Verlag: Springer Verlag GmbH
Umfang: xxii, 308 S., 1 s/w Illustr., 308 p. 1 illus.
Erscheinungsdatum: 23.11.2009
Auflage: 1/2009
Produktform: Gebunden/Hardback
Einband: Kartoniert
Artikelnummer: 1016633 Kategorie:

Beschreibung

Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBMs Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.

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