Recursivity and Self-Referentiality of Economic Theories and Their Implications for Bounded Rational Actors
This study aims at the analysis of the possible self-referential effects of economic theories and models on its own subject and of the mechanisms through which bounded rational actors perceive the self-referential nature of economic theories and might absorb their prescriptions. Thus, the focus of the present study will be on the effects of economic theories on the behaviour of the analyzed economic actors. The analysis of the possible causal role of theories on bounded rational economic behaviour will be interpreted as a sort of validity test of economic theory.
|Date of creation:||2007|
|Date of revision:|
|Contact details of provider:|| Postal: 01062 Dresden|
Phone: ++49 351 463 2196
Fax: ++49 351 463 7739
Web page: http://www.tu-dresden.de/wiwi/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arthur T. Denzau & Douglass C. North, 1993.
"Shared Mental Models: Ideologies and Institutions,"
- Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
- Cass, David & Shell, Karl, 1983. "Do Sunspots Matter?," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 193-227, April.
- Morgenstern, Oskar, 1972. "Descriptive, Predictive and Normative Theory," Kyklos, Wiley Blackwell, vol. 25(4), pages 699-714.
- Tilman Slembeck, 2000. "Ideologies, Beliefs, and Economic Advice - A Cognitive- Evolutionary View on Economic Policy-Making," Public Economics 0004005, EconWPA.
- Werner Güth & Hartmut Kliemt, 2004.
"Bounded Rationality and Theory Absorption,"
Papers on Strategic Interaction
2004-27, Max Planck Institute of Economics, Strategic Interaction Group.
- Güth, Werner & Kliemt, Hartmut, 2001. "From full to bounded rationality: The limits of unlimited rationality," SFB 373 Discussion Papers 2001,12, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- John Davis & Matthias Klaes, 2003. "Reflexivity: curse or cure?," Journal of Economic Methodology, Taylor & Francis Journals, vol. 10(3), pages 329-352.
- Emile Grunberg & Franco Modigliani, 1954. "The Predictability of Social Events," Journal of Political Economy, University of Chicago Press, vol. 62, pages 465.
When requesting a correction, please mention this item's handle: RePEc:zbw:tuddps:0307. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.