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| Tekijä: | Laville, F. |
| Otsikko: | Should we abandon optimization theory? The need for bounded rationality |
| Lehti: | Journal of Economic Methodology
2000 : NOV, VOL. 7:3, p. 395-426 |
| Asiasana: | OPTIMIZATION RATIONALITY METHODOLOGY |
| Kieli: | eng |
| Tiivistelmä: | This paper makes explicit the rhetoric of optimization. Various arguments are examined, in order to determine whether we should retain optimization theory or assume bounded rationality. Empirical evidence confounds optimization theory; in the face of experimental studies, an empirical dilemma emerges, according to which we should discard either the theory of expected utility or the criterion of empirical refutation. |
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