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Rationality and Irrationality in Economics

Rationality and Irrationality in Economics PDF Author: Maurice Godelier
Publisher: Verso Books
ISBN: 178168037X
Category : Social Science
Languages : en
Pages : 368

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.

Rationality and Irrationality in Economics

Rationality and Irrationality in Economics PDF Author: Maurice Godelier
Publisher: Verso Books
ISBN: 178168037X
Category : Social Science
Languages : en
Pages : 368

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.

The Irrational Economist

The Irrational Economist PDF Author: Erwann Michel-Kerjan
Publisher: Public Affairs
ISBN: 1586487809
Category : Business & Economics
Languages : en
Pages : 338

Book Description
The authors explore how discoveries in decision sciences will enhance traditional ideas about economics and challenges the conventional wisdom about how to make the right decisions in an emerging new era, in a book that includes informative charts.

The Law and Economics of Irrational Behavior

The Law and Economics of Irrational Behavior PDF Author: Francesco Parisi
Publisher: Stanford University Press
ISBN: 9780804751445
Category : Business & Economics
Languages : en
Pages : 634

Book Description
This collection of essays explores the most relevant developments at the interface of economics and psychology, giving special attention to models of irrational behavior, and draws the relevant implications of such models for the design of legal rules and institutions. The application of economic models of irrational behavior to law is especially challenging because specific departures from rational behavior differ markedly from one another. Furthermore, the analytical and deductive instruments of economic theory have to be reshaped to deal with the fragmented and heterogeneous findings of psychological research, turning towards a more experimental and inductive methodology. This volume brings together pioneering scholars in this area, along with some of the most exciting developments in the field of legal and economic theory. Areas of application include criminal law and sentencing, tort law, contract law, corporate law, and financial markets.

Is Behavioral Economics Doomed?

Is Behavioral Economics Doomed? PDF Author: David K. Levine
Publisher: Open Book Publishers
ISBN: 1906924929
Category : Business & Economics
Languages : en
Pages : 154

Book Description
In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.

Economic Fables

Economic Fables PDF Author: Ariel Rubinstein
Publisher: Open Book Publishers
ISBN: 1906924775
Category : Biography & Autobiography
Languages : en
Pages : 266

Book Description
"I had the good fortune to grow up in a wonderful area of Jerusalem, surrounded by a diverse range of people: Rabbi Meizel, the communist Sala Marcel, my widowed Aunt Hannah, and the intellectual Yaacovson. As far as I'm concerned, the opinion of such people is just as authoritative for making social and economic decisions as the opinion of an expert using a model." Part memoir, part crash-course in economic theory, this deeply engaging book by one of the world's foremost economists looks at economic ideas through a personal lens. Together with an introduction to some of the central concepts in modern economic thought, Ariel Rubinstein offers some powerful and entertaining reflections on his childhood, family and career. In doing so, he challenges many of the central tenets of game theory, and sheds light on the role economics can play in society at large. Economic Fables is as thought-provoking for seasoned economists as it is enlightening for newcomers to the field.

Predictably Irrational

Predictably Irrational PDF Author: Dan Ariely
Publisher: Harper Collins
ISBN: 006135323X
Category : Business & Economics
Languages : en
Pages : 310

Book Description
Intelligent, lively, humorous, and thoroughly engaging, "The Predictably Irrational" explains why people often make bad decisions and what can be done about it.

Rationality and irrationality in economics

Rationality and irrationality in economics PDF Author: Maurice Godelier (author)
Publisher:
ISBN:
Category :
Languages : en
Pages : 326

Book Description


Socio-Economic Environment and Human Psychology

Socio-Economic Environment and Human Psychology PDF Author: Ay,se K. Üskül
Publisher: Oxford University Press
ISBN: 0190492910
Category : Psychology
Languages : en
Pages : 336

Book Description
Edited by Ay,se K. Üskül and Shigehiro Oishi, Socio-Economic Environment and Human Psychology focuses on the social and economic conditions that impact on every aspect of an individual's life cycle. This edited collection showcases a variety of approaches to the study of the role of the social and economic environment in human psychological processes, such as: judgment and decision-making, trust, the self, and happiness. Further, it brings together state-of-the-art research from the fields of psychology, anthropology, economics, epidemiology, and evolutionary science. Illuminating how individuals think, feel, and behave in response to the social and economic conditions and settings that shape our daily lives, contributors to this volume explore the role played by economic conditions (wealth, scarcity, disasters); economic change (urbanization, socio-economic mobility); and the type of economic activity or structure (farming, herding, market economy) in the shaping of different psychological processes. As a result, the findings presented in this volume provide readers with important policy implications that have the potential to help to improve the psychological health of citizens at large.

Rationality and Explanation in Economics

Rationality and Explanation in Economics PDF Author: Maurice Lagueux
Publisher: Routledge
ISBN: 1135150338
Category : Business & Economics
Languages : en
Pages : 304

Book Description
Economical questions indisputably occupy a central place in everyday life. In order to clarify these questions, people generally turn to those who are familiar with economics. In answering such legitimate questions, economists propose explanations which rest on a few principles among which the rationality principle is by far the most fundamental. This principle assumes that people are rational, but what is meant by this has to be specified. Rationality and Explanation in Economics claims that only a minimal kind of rationality is required to ‘animate’ economic explanations. However, such a conception of rationality faces serious objections: it is closely associated with harshly criticised methodological individualism and it is not easily disentangled from sheer irrationality. The book answers these objections and shows that the economists’ way of mobilising the concepts of maximization or of consistency for defining rationality raises more serious problems. Since the latter have encouraged various attempts to downgrade or even to dispense with the very notion of rationality, the book is largely devoted to countering arguments associated with these attempts and to show why postulating that agents are rational is still the only efficient way to explain economic phenomena as such. The author also proposes original views about the role of rationality, the meaning of methodological individualism, the relevance of the selection argument and the relation between ‘rational’ explanations of economics and explanations in natural sciences.

The Economics of Rationality

The Economics of Rationality PDF Author: Bill J Gerrard
Publisher: Routledge
ISBN: 1134915292
Category : Business & Economics
Languages : en
Pages : 174

Book Description
The concept of rationality is the heart of modern economics. Neo-classical theory seems unable to proceed without assuming a rational agent seeking to find the optimal means to a well defined end. Yet many find this uncritical treatment of rationality problematic. It takes little account of culture history or creativity and consequently many economists find this insistence on rationality of little use when trying to explain a wide range of economic phenomena. Increasingly these include a large number of game theorists and others involved in mainstream theory as well as those typically opposed to neo-classicism. The Economics of Rationality contains a number of critical perspectives on the treatment of rationality in economics.