The superfluous postulate of human rationality
AbstractIf human beings were empirically shown to be irrational, would this finding destroy the foundations of economic science? We think not because we doubt that this postulate is needed as a foundation of economic science. We examine the laboratory experiments conducted by behavioral economists and experimental psychologists on human judgment and decision-making, using Bayes’ Theorem and the Expected Value model. We examine a number of issues: Can we base ourselves on experimenters’ full rationality for doubting of human rationality? Are rational models anything else than handy tools? Do humans’ minds function like rational tools or with rational tools? How an ‘‘irrational’’ human being could create anything ‘‘rational’’? Should rationality be subordinated to reason? Nature being neither rational nor irrational, is there any point in applying the concept of rationality to one its constituents? If human beings were rational forms of life, would this specie have survived?
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.
Volume (Year): 120 (2012)
Issue (Month): 3 ()
Contact details of provider:
Rationalty; Economic science; Decision-making; Human judgment;
Find related papers by JEL classification:
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
- D03 - Microeconomics - - General - - - Behavioral Economics; Underlying Principles
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vep - Vita e Pensiero).
If references are entirely missing, you can add them using this form.