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2019 | OriginalPaper | Buchkapitel

3. Real Worlds: Simulating Non-standard Rationality in Microeconomics

verfasst von : Giuliana Gerace

Erschienen in: Information and Communication Technologies (ICT) in Economic Modeling

Verlag: Springer International Publishing

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Abstract

In this chapter, the differences between the standard notion of rationality, used in neoclassical economic model, and the notion of “non-standard” rationality are highlighted. The notion of non-standard rationality has been used in an attempt to address the discrepancies found between the ideal cognitive attitudes of the homo economicus and limited rational abilities of real decision-makers. By contrast, this notion is not supported by any adequate nor exhaustive theoretical account of “non-standard” preferences and therefore doesn’t provide useful applications for real-world simulations in microeconomics.

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Titel: Real Worlds: Simulating Non-standard Rationality in Microeconomics
verfasst von: Giuliana Gerace
Verlag: Springer International Publishing
Buch: Information and Communication Technologies (ICT) in Economic Modeling
Print ISBN: 978-3-030-22604-6

Electronic ISBN: 978-3-030-22605-3

Copyright-Jahr: 2019
DOI: https://doi.org/10.1007/978-3-030-22605-3_3

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