IDEAS home Printed from https://ideas.repec.org/a/bpj/jeehcn/v14y2004i1n5.html
   My bibliography  Save this article

Insertion of Bounded Rationality in Economic Science

Author

Listed:
  • Lesourne Jacques

    (National des Arts et Métiers)

Abstract

After having explained why economics introduced utility functions and later the axioms about behaviour in a risky environment, the paper examines the interest for microeco-nomics of the concept of bounded rationality. It starts from a simple model of the labour market on which agents scarch and adapt their demands, contributing unconsciously to the emergence of a unique price. More complex models are thereafter introduced, which enables to draw a picture of the variety of possible trajectories in a dynamic microeco-nomic system. This approach enables to enlarge microeconomics and to explain numerous facts poorly taken into account in the traditional presentations.Après avoir rappelé pourquoi la science économique avait introduit les fonctions dutilité puis laxiomatique des comportements en face du risque, larticle examine lapport en microéco-nomie du concept de rationalité limitée. Il le fait à partir dun modèle simple du marché du travail où les agents cherchent, et adaptent leurs exigences, contribuant, sous certaines hypothèses et sans en avoir conscience, à lémergence dun prix unique. Des modèles plus complexes sont ensuite examinés, ce qui permet de dresser un tableau de la variété des trajectoires possibles dans un système microéconomique dynamique. Cette approche permet délargir la théorie microéconomique en rendant compte de nombreux faits mal insérés dans la présentation traditionnelle.

Suggested Citation

  • Lesourne Jacques, 2004. "Insertion of Bounded Rationality in Economic Science," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 14(1), pages 1-11, March.
  • Handle: RePEc:bpj:jeehcn:v:14:y:2004:i:1:n:5
    as

    Download full text from publisher

    File URL: https://www.degruyter.com/view/j/jeeh.2004.14.1/jeeh.2004.14.1.1118/jeeh.2004.14.1.1118.xml?format=INT
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Insertion of Bounded Rationality in Economic Science
      by inobrec in Knowledge Team on 2012-06-27 01:04:08

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:jeehcn:v:14:y:2004:i:1:n:5. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Golla). General contact details of provider: https://www.degruyter.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.