We Are Smarter than We Think

Gudmund Hernes
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Gudmund Hernes: Norwegian Royal Ministry of Education, Research, and Ecclesiastical Affairs

Rationality and Society, 1992, vol. 4, issue 4, 421-436

Abstract: Rational choice theory is not a conceptual system to be verified but a family of “sometimes-true theories†that are applicable in certain situations. Even the most heroic family members (i.e., those based on omniscient maximizers) may yield astounding insights, as may those theories based on less potent members (e.g., models based on result-controlled purposive behavior). These assertions are illustrated by Weber's analysis of the transition to capitalism and Marx's depiction of learning by doing .

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ratsoc:v:4:y:1992:i:4:p:421-436

DOI: 10.1177/1043463192004004005

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