Repere ale raţionalităţii limitate în ştiinţa economică
[Highlights of bounded rationality in economics]
As stated also in the title of the paper, the analysis proposed is contrary to normative microeconomics. Therefore, we do not intend to analyze the individuals, with the intent to show if they behave correctly or wrongly, economically speaking.Our intention is to follow the logic of the individuals that act in the economic markets, led by their own rationality and the way they manage to became aware of their needs.The purpose of the paper is to determine the necessary degree of rationality so as the expectations of the individuals match the results of their actions in order to fulfill hierarhically their needs. In this matter, we will explain why Sen and Kekes are mistaken when they tie some of needs to products.We will analyze the needs, same as the institutions that pass the test of time and belong firstly to the modern individual. The thing that modifies and can be linked to products is the level of satisfaction and the standard to which these needs are satisfied.
|Date of creation:||01 Sep 2012|
|Date of revision:||08 Feb 2013|
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Web page: https://mpra.ub.uni-muenchen.de
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- Simon, Herbert A, 1978. "Rationality as Process and as Product of Thought," American Economic Review, American Economic Association, vol. 68(2), pages 1-16, May.
- Constantinescu, Radu, 2011.
"Raţionalitatea în economie: de la homo oeconomicus la homo irationalis
[Rationality in Economics: from Homo Oeconomicus to „Homo Irationalis”]," MPRA Paper 33379, University Library of Munich, Germany.
- Chiriac Cãtãlin & Vodã Ana-Iolanda & Constantinescu Radu, 2012. "The Limitations of Standard Economical Theory from the Perspective of Development, Sustainability and Rationality in Resource Allocation," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 442-447, May.
- Matthew Rabin, 1998.
"Psychology and Economics,"
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American Economic Association, vol. 36(1), pages 11-46, March.
- Matthew Rabin., 1997. "Psychology and Economics," Economics Working Papers 97-251, University of California at Berkeley.
- Rabin, Matthew, 1997. "Psychology and Economics," Department of Economics, Working Paper Series qt8jd5z5j2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Nozick Robert, 1995. "The Nature Of Rationality," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 6(1), pages 1-12, March.
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
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