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  1. added 2018-05-20
    Gossens Theorie der Zeitallokation.Daniel Dohrn - 2000 - Dissertation, LMU Munich
  2. added 2017-11-18
    Social Preference Under Twofold Uncertainty.Philippe Mongin & Marcus Pivato - manuscript
    We investigate the conflict between the ex ante and ex post criteria of social welfare in a new framework of individual and social decisions, which distinguishes between two sources of uncertainty, here interpreted as an objective and a subjective source respectively. This framework makes it possible to endow the individuals and society not only with ex ante and ex post preferences, as is usually done, but also with interim preferences of two kinds, and correspondingly, to introduce interim forms of the (...)
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  3. added 2017-10-06
    On the Confirmation of the Law of Demand.Philippe Mongin - manuscript
    The paper applies confirmation theory to a famous statement of economics, the law of demand, which says that ceteris paribus, prices and quantities demanded change in opposite directions. Today's economists do not accept the law unless definite restrictions hold, and have shown little interest in deciding whether or not these restrictions were satisfied empirically. However, Hildenbrand (1994) has provided a new derivation of the law of aggregate demand and used this theoretical advance to devise a test that may be the (...)
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  4. added 2017-10-06
    L'optimisation est-elle un critère de rationalité individuelle?Philippe Mongin - 1994 - Dialogue 33 (2):191-222.
    This French paper is a preliminary version of P. Mongin, "Does Optimization Imply Rationality?", Synthese, 124, 2000, p. 73-111, to which readers are referred to.
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  5. added 2017-10-06
    The Infinite Regress of Optimization.Philippe Mongin - 1991 - Behavioral and Brain Sciences 14 (2):229-230.
    A comment on Paul Schoemaker's target article in Behavioral and Brain Sciences, 14 (1991), p. 205-215, "The Quest for Optimality: A Positive Heuristic of Science?" (https://doi.org/10.1017/S0140525X00066140). This comment argues that the optimizing model of decision leads to an infinite regress, once internal costs of decision (i.e., information and computation costs) are duly taken into account.
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  6. added 2017-10-06
    Are “All-and-Some” Statements Falsifiable After All?: The Example of Utility Theory.Philippe Mongin - 1986 - Economics and Philosophy 2 (2):185-195.
    Popper's well-known demarcation criterion has often been understood to distinguish statements of empirical science according to their logical form. Implicit in this interpretation of Popper's philosophy is the belief that when the universe of discourse of the empirical scientist is infinite, empirical universal sentences are falsifiable but not verifiable, whereas the converse holds for existential sentences. A remarkable elaboration of this belief is to be found in Watkins's early work on the statements he calls “all-and-some,” such as: “For every metal (...)
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  7. added 2017-10-06
    Simon, Stigler et les théories de la rationalité limitée.P. Mongin - 1986 - Social Science Information 25 (3):555-606.
    This article reviews Herbert Simon's theory of bounded rationality, with a view of deemphasizing his "satisficing" model, and by contrast, of emphasizing his distinction between "procedural" and "substantive" rationality. The article also discusses a possible move from neo-classical economists to respond to Simon's criticisms, i.e., a reduction of bounded rationality to a special case of second-optimization, using Stigler's search theory. This move is eventually dismissed.
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  8. added 2017-10-06
    Modèle rationnel ou modèle économique de la rationalité?Philippe Mongin - 1984 - Revue Economique 35 (1):9-63.
    This article critically discusses the concept of economic rationality, arguing that it is too narrow and specific to encompass the full concept of practical rationality. Economic rationality is identified here with the use of the optimizing model of decision, as well as of expected utility apparatus to deal with uncertainty. To argue that practical rationality is broader than economic rationality, the article claims that practical rationality includes bounded rationality as a particular case, and that bounded rationality cannot be reduced to (...)
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  9. added 2017-10-05
    Une conception néo-poppérienne de l’explication en sciences sociales et ses difficultés internes.Philippe Mongin - 2012 - Dialogue 51 (3):503-515.
    The paper investigates and objects to the neo-Popperian conception of explanation in social sciences that Maurice Lagueux propounds in his book Rationality and Explanation in Economics (2010). Inspired by Popper's (1967) famous article on the rationality principle, Lagueux makes this principle central to all social science explanations, including those of neo-classical economics. By retracing one of Lagueux's examples, i.e., Giffen goods, we will show that the rationality principle is neither necessary nor sufficient for a social science explanation. We will also (...)
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  10. added 2017-09-21
    The Morals of Moral Hazard: A Contracts Approach.McCaffrey Matthew - 2017 - Business Ethics: A European Review 26 (1):47-62.
    Although moral hazard is a well-known economic concept, there is a long-standing controversy over its moral implications. The language economists use to describe moral hazard is often value-laden, and implies moral judgments about the persons or actions of economic agents. This in turn leads some to question whether it is actually a scientific concept, or simply a convenient tool for criticizing certain public policies. At present, there is no consensus about the moral meaning of moral hazard, or about whether the (...)
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  11. added 2017-02-13
    Classical General Equilibrium Theory.Lionel W. McKenzie - 2005 - MIT Press.
    Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s. This book focuses on the version of the theory developed in the second half of the twentieth century, referred to by Lionel McKenzie as the classical general equilibrium theory. McKenzie offers detailed and rigorous treatment of the classical model, giving step-by-step proofs of the basic theorems. In many cases he elaborates on the individual steps to give (...)
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  12. added 2017-02-13
    10 The Metaphysics of Microeconomics.Alex Rosenberg - 2001 - In Uskali Mäki (ed.), The Economic World View: Studies in the Ontology of Economics. Cambridge University Press. pp. 66--174.
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  13. added 2017-02-10
    General Equilibrium with Information Sales.Beth Allen - 1986 - Theory and Decision 21 (1):1-33.
  14. added 2017-02-01
    Stratification of General Equilibrium Theory: A Synthesis of Reconstructions. [REVIEW]Maarten C. W. Janssen & Theo A. F. Kuipers - 1989 - Erkenntnis 30 (1-2):183 - 205.
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  15. added 2017-01-26
    Pranab Bardhan and Christopher Udry, Development Microeconomics.A. A. Batabyal - 2001 - Agriculture and Human Values 18 (3):337-338.
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  16. added 2017-01-16
    General Equilibrium Analysis: Studies in Appraisal.E. Roy Weintraub - 1985 - Cambridge University Press.
    What is the nature of the intellectual enterprise - general equilibrium analysis - that so many economists regard as the centerpiece of their discipline? In this book, Roy Weintraub considers both the modern history of the analysis, and the methodological puzzles that it, and mathematical economic theory in general, pose. Professor Weintraub argues that previous writings on the history and method of general equilibrium theory have been curiously biased and misleading. He provides a clear and careful presentation of the development (...)
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  17. added 2016-12-08
    Beyond Homo Economicus: New Developments in Theories of Social Norms.Elizabeth Anderson - 2000 - Philosophy and Public Affairs 29 (2):170-200.
  18. added 2016-06-05
    Liberal Individualism and Reforms.Ihor Karivets' - 2016 - In Mykola Bunyk Antonina Kolodii (ed.), Liberalism,Postcommunism and Reforms. Ludwig von Mises and Contemporary Societies Studies. A Collection of Research Papers. pp. 160-167.
    In this article the author considers the essential connection between liberal individualism, reforms and initiativeness. The author shows that liberal individualism has nothing in common with robinsonade, egoism and narrow view upon the things. On the contrary, it sets free the initiativeness of people and makes them active in social, economic and civil spheres. Consequently, if Ukrainians want the decentralization in all the spheres of life, then it is necessarily to realize the ideas of classical liberalism: liberty, equality and justice. (...)
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  19. added 2016-05-16
    Umweltmanagement und Rationalität. Der Schatten von VW: Betrieblicher Umweltschutz auf dem Prüfstand.Kay Herrmann - 2017 - WiSt 4 (2017):47-49.
    Economic pressures, mounting environmental, security and health requirements, are all critical factors that shape economic action. With regard to environmental protection, an economic entity acting as homo oeconomicus finds himself in a situation resembling a prisoner’s dilemma. Signposts for a possible resolution of this dilemma include an environmental management system, a system of environmental law based on the principles of environmental ethics, and a new conception of human nature.
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  20. added 2016-02-26
    Choice-Based Cardinal Utility. A Tribute to Patrick Suppes.Philippe Mongin - 2016 - Journal of Economic Methodology 23 (3):268-288.
    We reexamine some of the classic problems connected with the use of cardinal utility functions in decision theory, and discuss Patrick Suppes's contributions to this field in light of a reinterpretation we propose for these problems. We analytically decompose the doctrine of ordinalism, which only accepts ordinal utility functions, and dis- tinguish between several doctrines of cardinalism, depending on what components of ordinalism they specifically reject. We identify Suppes's doctrine with the major deviation from ordinalism that conceives of utility functions (...)
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  21. added 2015-12-20
    The Logical Reconstruction of Pure Exchange Economics: Another Alternative.Douglas Wade Hands - 1985 - Theory and Decision 19 (3):259-278.
  22. added 2015-09-10
    Mark Blaug on the Normativity of Welfare Economics.D. Wade Hands - 2013 - Erasmus Journal for Philosophy and Economics 6 (3):1-25.
    Abstract: This paper examines Mark Blaug's position on the normative character of Paretian welfare economics: in general, and specifically with respect to his debate with Pieter Hennipman over this question during the 1990s. The paper also clarifies some of the confusions that emerged within the context of this debate, and closes by providing some additional arguments supporting Blaug's position that he himself did not provide.
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  23. added 2015-05-27
    Reason-Based Choice and Context-Dependence: An Explanatory Framework.Franz Dietrich & Christian List - 2016 - Economics and Philosophy 32 (2):175-229.
    We introduce a “reason-based” framework for explaining and predicting individual choices. It captures the idea that a decision-maker focuses on some but not all properties of the options and chooses an option whose motivationally salient properties he/she most prefers. Reason-based explanations allow us to distinguish between two kinds of context-dependent choice: the motivationally salient properties may (i) vary across choice contexts, and (ii) include not only “intrinsic” properties of the options, but also “context-related” properties. Our framework can accommodate boundedly rational (...)
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  24. added 2015-05-22
    Entrepreneurship: Alertness, Judgment and Conjecture.Danny Frederick - manuscript
    I criticise, from a critical rationalist perspective, Israel Kirzner's notion of entrepreneurial alertness and Matthew McCaffrey's endorsement of Joseph Salerno's rival account of entrepreneurial judgment.
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  25. added 2014-12-01
    Wettbewerbstheorie.C. Mantzavinos - 1994 - Duncker Und Humblot.
  26. added 2014-11-20
    On Don Ross's Defense of Neoclassical Economics.C. Mantzavinos - 2008 - Journal of Economic Methodology 15 (3).
  27. added 2014-09-30
    The Firm as Association Versus the Firm as Commodity.Louis Putterman - 1988 - Economics and Philosophy 4 (2):243.
    Recent years have seen the flowering of a new literature on the economic nature of firms marked by a concern with their internal organization and contractual characteristics. Related literatures on the principal-agent problem and the theory of financial markets have also contributed to a better understanding of firms as economic institutions. However, the place of the concept of the ownership of the firm is poorly developed in most of this literature, with many writers either ignoring the concept entirely or arguing (...)
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  28. added 2014-09-24
    Microfoundations: A Critical Inquiry, Maarten C. W. Janssen. Routledge, 1993, Xix + 198 Pages. [REVIEW]Maria Cristina Marcuzzo - 1996 - Economics and Philosophy 12 (1):104.
  29. added 2014-09-15
    Dynamic Equilibrium Valuation of Electricity Futures.Wolfgang Bühler & Jens Müller-Merbach - manuscript
    We propose a dynamic competitive equilibrium model for pricing electricity futures. With exogenous demand and a convex function of marginal production cost, we endogenously receive a term structure of futures prices and futures price premia. The multi-period setting enables us to receive the futures price evolution until maturity and to evaluate cascade futures as they are common e. g. at Nord Pool and the European Energy Exchange. Our model allows to incorporate seasonality of electricity demand which is a major component (...)
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  30. added 2014-09-15
    Is Individual Rationality Essential to Market Price Formation? The Contribution of Zero‐Intelligence Agent Trading Models.Paola Tubaro - 2009 - Journal of Economic Methodology 16 (1):1-19.
    The paper investigates the minimum level of individual rationality that is needed for market prices to converge toward their equilibrium level. It does so by examining the theoretical and methodological foundations of the ?zero?intelligence? (ZI) agent trading approach, with which Gode and Sunder (1993a) claimed that weak individual rationality requirements suffice to obtain equilibrium prices. The paper shows that ZI agents are endowed with a higher degree of rationality than previously believed. Though not maximizing utility, they exhibit utility?improving behavior, and (...)
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  31. added 2014-09-15
    Pragmatic Methodology: A Sketch, with Applications to Transaction Cost Economics.Oliver E. Williamson - 2009 - Journal of Economic Methodology 16 (2):145-157.
    I address the topic of pragmatic methodology as a practitioner in applied microeconomics who has been working in the still nascent field of the ?economics of organization?. My purpose is both to make explicit the methodology out of which transaction cost economics works and to suggest that other theories of economic organization do the same. Conceivably convergence will develop in the process, maybe even a consensus. At a minimum, it will be useful to have each implicit methodology made explicit. I (...)
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  32. added 2014-09-15
    Two Out of Three Ain't Bad: A Comment on “the Ambiguity Aversion Literature: A Critical Assessment”.Marciano Siniscalchi - 2009 - Economics and Philosophy 25 (3):335-356.
    Al-Najjar and Weinstein (2009) propose to scrutinize the implications of recent theories of ambiguity in dynamic settings. They conclude that such implications are so unreasonable as to cast doubts on the legitimacy of the theories under consideration. The present paper argues that the seemingly unreasonable implications highlighted by Al-Najjar and Weinstein can be understood as the result of basic trade-offs that arise naturally in the presence of ambiguity. In particular, Al-Najjar and Weinstein are uncomfortable with the possibility that an ambiguity-averse (...)
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  33. added 2014-09-15
    A Positivist Tradition in Early Demand Theory.David Teira Serrano - 2006 - Journal of Economic Methodology 13 (1):25-47.
    In this paper I explore a positivist methodological tradition in early demand theory, as exemplified by several common traits that I draw from the works of V. Pareto, H. L. Moore and H. Schultz. Assuming a current approach to explanation in the social sciences, I will discuss the building of their various explanans, showing that the three authors agreed on two distinctive methodological features: the exclusion of any causal commitment to psychology when explaining individual choice and the mandate to test (...)
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  34. added 2014-09-15
    Basic Income Versus Wage Subsidies: Competing Instruments in an Optimal Tax Model with a Maximin Objective.Robert van der Veen - 2004 - Economics and Philosophy 20 (1):147-183.
    This article challenges the general thesis that an unconditional basic income, set at the highest sustainable level, is required for maximizing the income-leisure opportunities of the least advantaged, when income varies according to the responsible factor of labor input. In a linear optimal taxation model (of a type suggested by Vandenbroucke 2001) in which opportunities depend only on individual productivity, adding the instrument of a uniform wage subsidy generates an array of undominated policies besides the basic income maximizing policy, including (...)
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  35. added 2014-09-15
    The Ethics and Economics of the Minimum Wage.T. M. Wilkinson - 2004 - Economics and Philosophy 20 (2):351-374.
    This paper develops a normative evaluation of the minimum wage in the light of recent evidence and theory about its effects. It argues that the minimum wage should be evaluated using a consequentialist criterion that gives priority to the jobs and incomes of the worst off. This criterion would be accepted by many different types of consequentialism, especially given the two major views about what the minimum wage does. One is that the minimum wage harms the jobs and incomes of (...)
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  36. added 2014-09-15
    Sargent and the Unbearable Lightness of Symmetry.Esther-Mirjam Sent - 1998 - Journal of Economic Methodology 5 (1):93-114.
    Influenced by changes in his environment in the early 1980s, Thomas Sargent tried to serve his interest in finding conceptual integrity of theory and method by using rational expectations to link general equilibrium theory and vector autoregressions. Dead ends loomed large on Sargent's horizon when he tried to fit the a priori bias towards symmetry in general equilibrium theory into this framework and when he became aware of the consequences of his initial decisions. In particular, he turned out to be (...)
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  37. added 2014-09-09
    Why Macroeconomics Does Not Supervene on Microeconomics.Brian Epstein - 2014 - Journal of Economic Methodology 21 (1):3-18.
    In recent years, the project of providing microeconomic foundations for macroeconomics has taken on new urgency. Some philosophers and economists have challenged the project, both for the way economists actually approach microfoundations and for more general anti-reductionist reasons. Reductionists and anti-reductionists alike, however, have taken it to be trivial that the macroeconomic facts are exhaustively determined by microeconomic ones. In this paper, I challenge this supposed triviality. I argue that macroeconomic properties do not even globally supervene on microeconomic ones. This (...)
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  38. added 2014-09-09
    Playing with Networks: How Economists Explain. [REVIEW]Caterina Marchionni - 2013 - European Journal for Philosophy of Science 3 (3):331-352.
    Network theory is applied across the sciences to study phenomena as diverse as the spread of SARS, the topology of the cell, the structure of the Internet and job search behaviour. Underlying the study of networks is graph theory. Whether the graph represents a network of neurons, cells, friends or firms, it displays features that exclusively depend on the mathematical properties of the graph itself. However, the way in which graph theory is implemented to the modelling of networks differs significantly (...)
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  39. added 2014-09-09
    How to Have Your Cake and Eat It Too: Resolving the Efficiency- Equity Trade-Off in Minimum Wage Legislation.Nikil Mukerji & Christoph Schumacher - 2008 - Journal of Interdisciplinary Economics 19:315-340.
    Minimum wages are usually assumed to be inefficient as they prevent the full exploitation of mutual gains from trade. Yet advocates of wage regulation policies have repeatedly claimed that this loss in market efficiency can be justified by the pursuit of ethical goals. Policy makers, it is argued, should not focus on efficiency alone. Rather, they should try to find an adequate balance between efficiency and equity targets. This idea is based on a two-worlds-paradigm that sees ethics and economics as (...)
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  40. added 2014-08-27
    Unacceptable Risks and the Continuity Axiom.Karsten Klint Jensen - 2012 - Economics and Philosophy 28 (1):31-42.
    Consider a sequence of outcomes of descending value, A > B > C >... > Z. According to Larry Temkin, there are reasons to deny the continuity axiom in certain cases, i.e. cases of triplets of outcomes A, B and Z, where A and B differ little in value, but B and Z differ greatly. But, Temkin argues, if we assume continuity for cases, i.e. cases where the loss is small, we can derive continuity for the case by applying the (...)
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  41. added 2014-06-18
    Anti‐Antitrust: Ideology or Economics? Reply to Scherer.Dominick T. Armentano - 1992 - Critical Review 6 (1):29-39.
    F.M. Scherer has not effectively rebutted my subjectivist criticism of the standard microeconomic welfare model; Scherer's historical reference to what Congress believed is irrelevant to the theoretical concerns raised by subjectivism. Nor does my?principal? criticism of antitrust policy rests on?philosophical foundations?; my principal criticism rests on conventional economic analysis and a detailed economic history of the classic antitrust cases. My conclusion that the electrical equipment conspiracy of the late 1950s had no significant effect on market prices is supported by Ralph (...)
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  42. added 2014-04-02
    Real Patterns and the Ontological Foundations of Microeconomics.Don Ross - 1995 - Economics and Philosophy 11 (1):113.
    Most philosophical accounts of the foundations of economics have assumed that economics is intended to be an empirical science concerned with human behaviour, though they have, of course, differed over the extent to which it has been or can be successful as such an enterprise. A prominent source of dissent against this consensus is Alexander Rosenberg. In his recent book, Rosenberg summarizes and completes his statement of a position that he has been developing for some time. He argues that although (...)
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  43. added 2014-04-01
    Equilibrium and Time: Marshall's Dilemma.Neil Hart - 1996 - Journal of Economic Methodology 3 (2):285-306.
    The neglect and misinterpretation of Marshall's treatment of time led many of his followers and critics to overlook the significance of the qualifications and criticisms of equilibrium analysis in his Principles. This misinterpretation arises from a failure to fully understand the purpose and method of Marshall's analysis. Marshall's methodological struggles in Principles did not arise from an attempt to preserve the concept of competitive equilibrium in a world where increasing returns are pervasive. Rather, they emanated from an attempt at providing (...)
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  44. added 2014-03-30
    The Market Ethic: Moral Dilemmas and Microeconomics. [REVIEW]Julianne Nelson - 1992 - Journal of Business Ethics 11 (4):317 - 320.
    Brief cases written as multiple choice questions can provide the basis for a classroom game based on business ethics. This teaching note describes the organization of such a game and provides five sample cases.
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  45. added 2014-03-27
    The Metaphysics of Microeconomics.Alex Rosenberg - 1995 - The Monist 78 (3):352-367.
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  46. added 2014-03-25
    Game Theory, Mathematics, and Economics.James M. Buchanan - 2001 - Journal of Economic Methodology 8 (1):27-32.
  47. added 2014-03-25
    Discovered Preferences and the Experimental Evidence of Violations of Expected Utility Theory.Robin P. Cubitt, Chris Starmer & Robert Sugden - 2001 - Journal of Economic Methodology 8 (3):385-414.
    The discovered preference hypothesis appears to insulate expected utility theory (EU) from disconfirming experimental evidence. It asserts that individuals have coherent underlying preferences, which experiments may not reveal unless subjects have adequate opportunities and incentives to discover which actions best satisfy their preferences. We identify the confounding effects to be expected in experiments, were that hypothesis true, and consider how they might be controlled for. We argue for a design in which each subject faces just one distinct choice task for (...)
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  48. added 2014-03-24
    Still Dead After All These Years: Interpreting the Failure of General Equilibrium Theory.Frank Ackerman - 2002 - Journal of Economic Methodology 9 (2):119-139.
    More than 25 years after the discovery that the equilibrium point of a general equilibrium model is not necessarily either unique or stable, there is still a need for an intuitively comprehensible explanation of the reasons for this discovery. Recent accounts identify two causes of the finding of instability: the inherent difficulties of aggregation, and the individualistic model of consumer behaviour. The mathematical dead end reached by general equilibrium analysis is not due to obscure or esoteric aspects of the model, (...)
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  49. added 2014-03-23
    Perfect Informationà laWalras Versus Perfect Informationà laMarshall.Michel de Vroey - 2003 - Journal of Economic Methodology 10 (4):465-492.
    In this paper I ponder upon the meaning of the perfect information assumption, and argue that a distinction should be drawn between the Walrasian and Marshallian conceptions of perfect information. I show that the Marshallian conception is more demanding than the Walrasian, due to the absence of the auctioneer figure. Next, I examine a few modern imperfect information models (Friedman's expectations?augmented Phillips Curve model, Lucas' neutrality of money model, Shapiro and Stiglitz' efficiency wage model) in order to assess whether the (...)
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  50. added 2014-03-23
    Does Optimization Imply Rationality?Philippe Mongin - 2000 - Synthese 124 (1-2):73 - 111.
    The relations between rationality and optimization have been widely discussed in the wake of Herbert Simon's work, with the common conclusion that the rationality concept does not imply the optimization principle. The paper is partly concerned with adding evidence for this view, but its main, more challenging objective is to question the converse implication from optimization to rationality, which is accepted even by bounded rationality theorists. We discuss three topics in succession: (1) rationally defensible cyclical choices, (2) the revealed preference (...)
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1 — 50 / 69