Boundedly Rational Qualitative Reasoning on Comparative Statics

Reinhard Selten

Chapter 1 in Advances in Understanding Strategic Behaviour, 2004, pp 1-8 from Palgrave Macmillan

Abstract: Abstract The purpose of this chapter is to throw light on the structure of verbal economic reasoning as we find it in newspaper articles on questions of economic policy, or in the non-mathematical economic literature. Presumably, the thinking of practical decision-makers in business and public administration has a similar structure. A better understanding of this structure seems to be important for the development of a realistic theory of boundedly rational economic behaviour.

Keywords: Interest Rate; Saving Rate; Causal Chain; Pension Plan; Causal Influence (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52337-1_1

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DOI: 10.1057/9780230523371_1

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