The epistemic value of rationality
AbstractModels of rational choice use different definitions of rationality. However, there is no clear description of the latter. We recognize rationality as a conceptual conglomerate where reason, judgment, deliberation, relativity, behavior, experience, and pragmatism interact. Using our definition, the game theoretic idealized principle of rationality becomes absolute. Our model gives a more precise account of the players, of their true behavior. We show that the Rational Method (RM) is the only process that can be used to achieve a specific goal. We also provide schematics of how information, beliefs, knowledge, actions, and purposes interact with and influence each other in order to achieve a specific goal. Furthermore, ration, the ability to think in the RM framework, is a singularity in time and space. Having a unilateral definition of rationality, different models and theories have now a common ground on which we can judge their soundness.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 17618.
Date of creation: 2008
Date of revision:
conceptual conglomerate; traditional rationality; rational method; ration;
Find related papers by JEL classification:
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
- C99 - Mathematical and Quantitative Methods - - Design of Experiments - - - Other
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
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