The relation between rationality and optimization have been widely discussed in the wake of Herbert Simon's work, with the common conclusion that the rationality concept does not imply the optimization principle. The paper is partly concerned with adding evidence for this view but its main, more challenging objective is to question the converse implication form optimization to rationality, which is accepted even by bounded rationality theorists.
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Paper provided by Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. in its series Papers with number
9817.
Length: 37 pages Date of creation: 1998 Date of revision: Handle: RePEc:fth:pnegmi:9817
Contact details of provider: Postal: THEMA, Universite de Paris X-Nanterre, U.F.R. de science economiques, gestion, mathematiques et informatique, 200, avenue de la Republique 92001 Nanterre CEDEX.
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Find related papers by JEL classification: B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology D10 - Microeconomics - - Household Behavior - - - General D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
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