IDEAS home Printed from https://ideas.repec.org/a/hid/journl/v24y201635p95-113.html
   My bibliography  Save this article

Rationality and Rules: Behavioral Foundations and Policy Implications

Author

Listed:
  • Viktor J. Vanberg

    (Walter Eucken Institut, Freiburg, Germany)

Abstract

Rational choice theory, as the paradigmatic core of economics, comprises two kinds of assumptions, the motivational assumption that individuals act self-interestedly and the cognitive assumption that in pursuit of their self-interest they act rationally. The self-interest assumption has often been the target of criticism, more recently from behavioral and experimental economists. The present paper focuses its critique on the cognitive component of rational choice theory. Its main purpose is to contrast the standard assumption of rational choice with a theoretical outlook that emphasizes the role of rules, both in individual conduct and in politics, as a device for coping with man’s cognitive limitations.

Suggested Citation

  • Viktor J. Vanberg, 2016. "Rationality and Rules: Behavioral Foundations and Policy Implications," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 24(3), pages 95-113.
    • Handle: RePEc:hid:journl:v:24:y:2016:3:5:p:95-113
    as

    Download full text from publisher

    File URL: http://www.libraweb.net/articoli.php?chiave=201606103&rivista=61
    Download Restriction: Access to full text is restricted to subscribers
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hid:journl:v:24:y:2016:3:5:p:95-113. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mario Aldo Cedrini (email available below). General contact details of provider: http://www.libraweb.net .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.