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Rationality, emotions and reference dependent

Author

Listed:
  • Takaharu ISHII

    (Department of Economics, Kyoto University, Japan)

Abstract

This paper explores the interplay between rationality, emotions, and reference dependence in economic decision-making. It draws on behavioral economics and psychology to explain deviations from classical rationality.

Suggested Citation

  • Takaharu ISHII, 2022. "Rationality, emotions and reference dependent," Journal of Economic and Social Thought, EconSciences Journals, vol. 9(3), pages 146-162, September.
    • Handle: RePEc:cvv:journ3:v:9:y:2022:i:3:p:146-162
    as

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    References listed on IDEAS

    as
    1. Eyal Winter & Shmuel Zamir, 2005. "An Experiment With Ultimatum Bargaining In A Changing Environment," The Japanese Economic Review, Japanese Economic Association, vol. 56(3), pages 363-385, September.
    2. Jeffrey P. Carpenter & Peter Hans Matthews, 2010. "Norm Enforcement: The Role of Third Parties," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 166(2), pages 239-258, June.
    3. Ernst Fehr & Simon Gächter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 159-181, Summer.
    4. Straub, Paul G. & Murnighan, J. Keith, 1995. "An experimental investigation of ultimatum games: information, fairness, expectations, and lowest acceptable offers," Journal of Economic Behavior & Organization, Elsevier, vol. 27(3), pages 345-364, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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