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A Rational Irrational Man?

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  • Alexander Harin

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    (Modern University for the Humanities)

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    Abstract

    A man is a key subject of economics. “A man is irrational” - this opinion can be made from Allais paradox, risk aversion and other well-known fundamental problems. For a long time, this opinion was a barrier to proper solution of these problems and the development of the economics. A radically new way is proposed to solve them and remove this barrier. The way is the generalization of a breach of a term of contract.

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    File URL: http://harin.socionet.ru/files/060814.pdf
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    Bibliographic Info

    Paper provided by Socionet in its series Microeconomics with number harin_alexander.34115-060814.

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    Length: 11
    Date of creation: 14 Aug 2006
    Date of revision:
    Handle: RePEc:nos:wuwpmi:harin_alexander.34115-060814

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    Web page: http://spz.socionet.ru/archives/

    Related research

    Keywords: risk; business; bank; trade; industry; development; utility; contract; “ideal” economics; investment;

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    1. John M. Gowdy & Jon D. Erickson, 2004. "Ecological Economics at a Crossroads," Rensselaer Working Papers in Economics 0417, Rensselaer Polytechnic Institute, Department of Economics.
    2. Quiggin, John, 2005. "The Precautionary Principle in Environmental Policy and the Theory of Choice under Uncertainty," Risk and Sustainable Management Group Working Papers 149847, University of Queensland, School of Economics.
    3. Massimo Egidi, 2005. "From Bounded Rationality to Behavioral Economics," Experimental 0507002, EconWPA.
    4. Tversky, Amos & Wakker, Peter, 1995. "Risk Attitudes and Decision Weights," Econometrica, Econometric Society, vol. 63(6), pages 1255-80, November.
    5. Guido Fioretti, 2004. "Evidence Theory: A Mathematical Framework For Unpredictable Hypotheses," Metroeconomica, Wiley Blackwell, vol. 55(4), pages 345-366, November.
    6. Alexander Harin, 2005. "A new approach to solve old problems," Game Theory and Information 0505005, EconWPA.
    7. Carmela Di Mauro & Anna Maffioletti, 2004. "Attitudes to risk and attitudes to uncertainty: experimental evidence," Applied Economics, Taylor & Francis Journals, vol. 36(4), pages 357-372.
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