Rationality in Economics: Theory and Evidence

Sanjit Dhami and Ali al-Nowaihi ()

No 6872, CESifo Working Paper Series from CESifo

Abstract: We examine the various senses in which economist use the term “rationality” and then outline some of the commonly drawn implications and auxiliary assumptions. Finally, we confront the implications with the empirical evidence, drawing on the insights from the exciting new field of behavioral economics.

Keywords: rationality; self-regarding preferences; efficient markets; heuristics; optimization (search for similar items in EconPapers)
JEL-codes: B40 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-evo, nep-hpe and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_6872

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