BUILDING DECISION MAKING IN THE ECONOMY BETWEEN SCHOOLS OF THOUGHT AND ALTERNATIVE APPROACHES

Alessandro Morselli ()
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Alessandro Morselli: Department of Law and Economics, University of Rome Unitelma Sapienza

Rivista Internazionale di Scienze Sociali, 2018, vol. 126, issue 2, 153-186

Abstract: This paper tries to prove that a decision theory in economics cannot ignore the crucial role played by the intuitive mind, through the knowledge and representation-review of beliefs. Considering the cognitivist paradigm, we veer away from the traditional approach, which does not give due importance to the construction of the context of the decision and the discovery-formation of alternative strategies. The journey of this paper places knowledge-representation and the relationship between individual rationality and the collective balance with beliefs understood as a vehicle for information. All this is backed by the availability of new logical and mathematical tools that can help us analyse the models of reasoning of the players in a more accurate way.

Keywords: Beliefs; Cognitive process; Decision; Economic institutions; Knowledge-based economy (search for similar items in EconPapers)
JEL-codes: B40 B41 B50 B52 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:vep:journl:y:2018:v:126:i:2:p:153-186

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