Exploring a Dualism of Human Rationality: Experimental Study of a Cheating Contest Game

Bodo Herzog and Stefanie Schnee
Additional contact information
Stefanie Schnee: Economics Department, ESB Business School, Reutlingen University, 72762 Reutlingen, Germany

IJERPH, 2022, vol. 19, issue 13, 1-13

Abstract: Rational behavior is a standard assumption in science. Indeed, rationality is required for environmental action towards net-zero emissions or public health interventions during the SARS-CoV-2 pandemic. Yet, little is known about the elements of rationality. This paper explores a dualism of rationality comprised of optimality and consistency. By designing a new guessing game, we experimentally uncover and disentangle two building blocks of human rationality: the notions of optimality and consistency. We find evidence that rationality is largely associated to optimality and weakly to consistency. Remarkably, under uncertainty, rationality gradually shifts to a heuristic notion. Our findings provide insights to better understand human decision making.

Keywords: guessing game; dualism of rationality; optimality; consistency; psychology; behavioral sciences; policy making; decision making (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1660-4601/19/13/7675/pdf (application/pdf)
https://www.mdpi.com/1660-4601/19/13/7675/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jijerp:v:19:y:2022:i:13:p:7675-:d:845772

Access Statistics for this article

IJERPH is currently edited by Ms. Jenna Liu

More articles in IJERPH from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().