A Rational Irrational Man?
A man is a key subject of economics. “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 economics. A radically new way is proposed to solve them and remove this barrier. The way is the generalization of a breach of a term of contract.
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- Quiggin, John, 2005.
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0417, Rensselaer Polytechnic Institute, Department of Economics.
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