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| Author: | Vriend, N. |
| Title: | Rational behavior and economic theory |
| Journal: | Journal of Economic Behavior and Organization
1996 : MAR, VOL. 29:2, p. 263-286 |
| Index terms: | ECONOMICS THEORIES RATIONALITY |
| Language: | eng |
| Abstract: | Nowadays, it seems almost universally presumed that the fundamental characteristic of homo economicus is his rationality. The author analyzes the role played by the concept of rationality in economic theory, and demonstrate that it is necessarily constrained to be an essentially contentless notion. The author shows that the main body of economic theory is firmly grounded, and that some contrasting approaches to rationality, although leading to heated debates and vivid confusion, have no fundamental significance for economics. |
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