Titlebook: Rationality in Economics: Alternative Perspectives; Ken Dennis Book 1998 Springer Science+Business Media New York 1998 Marx.Rational Choic

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Sunk Costs, Water over the Dam, and Other Liquid Parables,s. The purpose of this essay is to reflect on this apparent paradox, to dwell on what might be the evolutionary survival value of our instincts, and to consider how broad is the range of decision contexts in which the imperative to make future decisions independently of what has transpired in the past is truly applicable.

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Introduction,exed, and one will search in vain for them in such key articles as ‘Utility’ and ‘Mathematical Method in Political Economy’ by F. Y. Edgeworth, ‘Abstract Political Economy’ by J. N. Keynes, ‘Economic Man’ by W. E. Johnson, or ‘Self-Interest’ by J. M’Killop. A single occurrence of ‘rational’ can be s

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Rationalisation in Economics: Theory, Methodology and Action,struction, either of real relations or of arguments, according to some principles of rationality. It is a means of ‘making sense of’ the real world, and of arguments, where ‘sense’ is understood according to some particular framework of rationality.

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,Rationality—A Global Concept, settings. Although the determination of rational behavior becomes vastly more complicated once a single-agent deterministic setting is generalized, it is argued that rationality retains it essential meaning: maximization of the degree to which an agent can realize a given objective, as measured by

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The Logic of Rationality: Modal and Defeasible, some points of view, rational behavior is behavior according to rule. Simon, Newell, and their followers in cognitive science, for example, see rationality in this light; and Nozick observes that rules can have certain advantages which lead us to think of them as “rational”, such as coherence, cons

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Rule-Following, Expertise, and Rationality: A New Behavioral Economics?, alternative—or at least partly alternative—account that remedies many of the faults to which critics point without at the same time obliterating the many tangible benefits of the mainstream approach. This essay argues that a new model of action may be emerging that qualifies as such a (partial) alt

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