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The epistemic value of rationality

  • Popp, Alexandru W. A.
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    Models of rational choice use different definitions of rationality. However, there is no clear description of the latter. We recognize rationality as a conceptual conglomerate where reason, judgment, deliberation, relativity, behavior, experience, and pragmatism interact. Using our definition, the game theoretic idealized principle of rationality becomes absolute. Our model gives a more precise account of the players, of their true behavior. We show that the Rational Method (RM) is the only process that can be used to achieve a specific goal. We also provide schematics of how information, beliefs, knowledge, actions, and purposes interact with and influence each other in order to achieve a specific goal. Furthermore, ration, the ability to think in the RM framework, is a singularity in time and space. Having a unilateral definition of rationality, different models and theories have now a common ground on which we can judge their soundness.

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    File URL: http://mpra.ub.uni-muenchen.de/17618/1/MPRA_paper_17618.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17618.

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    Date of creation: 2008
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    Handle: RePEc:pra:mprapa:17618
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    1. Dufwenberg, M. & Kirchsteiger, G., 1998. "A Theory of Sequential Reciprocity," Discussion Paper 1998-37, Tilburg University, Center for Economic Research.
    2. Fehr, Ernst & Schmidt, Klaus M., . "A theory of fairness, competition, and cooperation," Chapters in Economics, University of Munich, Department of Economics.
    3. M. Rabin, 2001. "Incorporating Fairness into Game Theory and Economics," Levine's Working Paper Archive 511, David K. Levine.
    4. D. B. Bernheim, 2010. "Rationalizable Strategic Behavior," Levine's Working Paper Archive 661465000000000381, David K. Levine.
    5. Pearce, David G, 1984. "Rationalizable Strategic Behavior and the Problem of Perfection," Econometrica, Econometric Society, vol. 52(4), pages 1029-50, July.
    6. David K Levine, 1997. "Modeling Altruism and Spitefulness in Experiments," Levine's Working Paper Archive 2047, David K. Levine.
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