Does optimization imply rationality ?
The relation between rationality and optimization have been widely discussed in the wake of Herbert Simon's work, with the common conclusion that the rationality concept does not imply the optimization principle. The paper is partly concerned with adding evidence for this view but its main, more challenging objective is to question the converse implication form optimization to rationality, which is accepted even by bounded rationality theorists.
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- D. B. Bernheim, 2010.
"Rationalizable Strategic Behavior,"
Levine's Working Paper Archive
661465000000000381, David K. Levine.
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CORE Discussion Papers RP
1104, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- LISMONT, Luc & MONGIN, Philippe, 1994. "On the Logic of Common Belief and Common Knowledge," CORE Discussion Papers 1994005, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Amartya K. Sen, 1971. "Choice Functions and Revealed Preference," Review of Economic Studies, Oxford University Press, vol. 38(3), pages 307-317.
- Campbell, Donald E, 1978. "Realization of Choice Functions," Econometrica, Econometric Society, vol. 46(1), pages 171-80, January.
- Frédéric Laville, 1998. "Modélisations de la rationalité limitée : de quels outils dispose-t-on ?," Revue Économique, Programme National Persée, vol. 49(2), pages 335-365.
- Lipman, Barton L, 1991. "How to Decide How to Decide How to. . . : Modeling Limited Rationality," Econometrica, Econometric Society, vol. 59(4), pages 1105-25, July.
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