Equilibriums and Economic Rationality in “the House of Life”

Mariana Iovițu and Florina Bran ()
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Mariana Iovițu: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2015, vol. XXII, issue 4(605), Winter, 291-300

Abstract: Subject to the conjuncture and economic system’s capacity to react, in one way or the other, to the advancing human society’s different actions, rationality exceeds the principle status entering an area of interpretation as a mechanism. The new rationality paradigm calls for a certain measure where the characteristic elements are able to alter, somewhat, the interpretation sense for rationality. The concept is updated and undergoes modernization gaining thus new valences and new optimizations to match the new economic paradigm. In conclusion, the new economic paradigm requires a new rationality paradigm.

Keywords: economic rationality; rarity exponentiality; abundance exponentiality; the cognitive dissonance in rational choice; “house of life”. (search for similar items in EconPapers)
Date: 2015
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