David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
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Mind and Society 1 (1):25-39 (2000)
With the discovery of voluminous discordant empirical evidence, maximizing expected utility is rapidly disappearing as the core of the theory of human rationality, and a theory of bounded rationality, embracing both the processes and products of choice, is replacing it. There remains a large task of organizing our picture of economic and social processes and adding the new facts needed to shape the theory in an empirically sound way. It is also urgent that new tools now available for conducting empirical inquiry and constructing models be incorporated in social science graduate education.
|Keywords||rationality economic rationality psychological rationality bounded rationality under uncertainty utility theory decision theory scientific discovery game theory|
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Citations of this work BETA
Benedetta Giovanola (2009). Re-Thinking the Anthropological and Ethical Foundation of Economics and Business: Human Richness and Capabilities Enhancement. [REVIEW] Journal of Business Ethics 88 (3):431 - 444.
Patricia Grant & Peter McGhee (2014). Corporate Governance Reform: Character‐Building Structures. Business Ethics: A European Review 23 (2):125-138.
Till Grüne-Yanoff (2007). Bounded Rationality. Philosophy Compass 2 (3):534–563.
Benedetta Giovanola (2009). Re-Thinking the Anthropological and Ethical Foundation of Economics and Business: Human Richness and Capabilities Enhancement. Journal of Business Ethics 88 (3):431-444.
Surendra Arjoon, Alvaro Turriago-Hoyos & Ulf Thoene (forthcoming). Virtuousness and the Common Good as a Conceptual Framework for Harmonizing the Goals of the Individual, Organizations, and the Economy. Journal of Business Ethics.
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