Rationality and Irrationality: Evolution of the Senses

Alexander Rubinstein

Journal of the New Economic Association, 2017, vol. 33, issue 1, 146-151

Abstract: The author analyses a principle of rational behavior and the changes in the meaning of "rationality" and "irrationality" in a number of economic theories - behavioral economics, Margolis model, the concepts of merit goods and a new paternalism, the theory of patronized goods. The author comes to a conclusion, that behavior may be considered irrational only from the point of outside observer - from the point of his preferences, the notions about what "it should be".

Keywords: rationality; irrationality; behavioral economics; meritorik; new paternalism; theory patronized goods (search for similar items in EconPapers)
JEL-codes: D22 D24 L23 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2017:i:33:p:146-151

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