A Rational Irrational Man
AbstractA man is a key subject of economics and economic theory. “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 economic theory. A radically new approach has been proposed. It considers arrangement infringement possibility as a quite different source of such problems. It opens a quite different way to solve them and remove this barrier. It helps economists to open new and rediscover old fields and trends for the research.
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Bibliographic InfoPaper provided by EconWPA in its series Public Economics with number 0511005.
Date of creation: 09 Nov 2005
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“non-ideal” economics; risk; market; bank; industry; development;
Find related papers by JEL classification:
- C - Mathematical and Quantitative Methods
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- H - Public Economics
- O - Economic Development, Technological Change, and Growth
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-11-12 (All new papers)
- NEP-CBE-2005-11-12 (Cognitive & Behavioural Economics)
- NEP-EVO-2005-11-12 (Evolutionary Economics)
- NEP-FIN-2005-11-12 (Finance)
- NEP-HPE-2005-11-12 (History & Philosophy of Economics)
- NEP-PBE-2005-11-12 (Public Economics)
- NEP-UPT-2005-11-12 (Utility Models & Prospect Theory)
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