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An Economic Approach to the Self : the Dual Agent

  • Lotz, Aïleen

This paper extends the notion of the rational agent in economics by acknowledging the role of the unconscious in the agent�s decision-making process. It argues that the unconscious can be modelled by a rational agent with his own objective function and set of information. The combination of both the conscious and unconscious agents is called the "dual agent". This dual agent presents rationally biased behaviors that may not disappear through aggregation, and could be potentially measured. It also provides a theoretical approach to the emotionally-driven actions. On the social sciences side, the paper pleads for a wider use of substantive rationality in the understanding of human behavior.

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File URL: http://mpra.ub.uni-muenchen.de/30043/1/MPRA_paper_30043.pdf
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File URL: http://mpra.ub.uni-muenchen.de/47677/7/MPRA_paper_47677.pdf
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File URL: http://mpra.ub.uni-muenchen.de/47678/7/MPRA_paper_47677.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30043.

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Date of creation: 15 Feb 2011
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Handle: RePEc:pra:mprapa:30043
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  1. Berg, Nathan & Gigerenzer, Gerd, 2010. "As-if behavioral economics: Neoclassical economics in disguise?," MPRA Paper 26586, University Library of Munich, Germany.
  2. Pierre Gosselin & Aileen Lotz & Charles Wyplosz, 2006. "How Much Information should Interest Rate-Setting Central Banks Reveal?," IHEID Working Papers 08-2006, Economics Section, The Graduate Institute of International Studies.
  3. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
  4. Rabin, Matthew, 2002. "A perspective on psychology and economics," European Economic Review, Elsevier, vol. 46(4-5), pages 657-685, May.
  5. Gary S. Becker, 1968. "Crime and Punishment: An Economic Approach," Journal of Political Economy, University of Chicago Press, vol. 76, pages 169.
  6. Simon, Herbert A, 1986. "Rationality in Psychology and Economics," The Journal of Business, University of Chicago Press, vol. 59(4), pages S209-24, October.
  7. Jon Elster, 1998. "Emotions and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 47-74, March.
  8. Berg, Nathan, 2010. "Behavioral Economics," MPRA Paper 26587, University Library of Munich, Germany.
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