Consumer theory with bounded rational preferences
نویسندگان
چکیده
منابع مشابه
A Model of Bounded Rational Consumers with Endogenous Preferences
This paper intends to be a contribution towards an evolutionary theory of consumer. Standard economic theory assumes perfectly rational agents acting upon exogenously given preferences. Here it is proposed a bounded rational representation of consumers, which seems even more justified for consumers than for producers since they are not subject to competitive pressures and there cannot exist any...
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It seems easy to accept that rationality involves many features that cannot be summarized in terms of some straightforward formula, such as binary consistency. However, this recognition does not immediately lead to alternative characterizations that might be regarded as satisfactory, even though the inadequacies of the traditional assumptions of rational behavior standard used in economic theo...
متن کاملQUANTUM RATIONAL PREFERENCES AND DESIRABILITY Quantum rational preferences and desirability
We develop a theory of quantum rational decision making in the tradition of Anscombe and Aumann’s axiomatisation of preferences on horse lotteries. It is essentially the Bayesian decision theory generalised to the space of Hermitian matrices. Among other things, this leads us to give a representation theorem showing that quantum complete rational preferences are obtained by means of expected ut...
متن کاملRational Choice Theory: An Overview
It seems easy to accept that rationality involves many features that cannot be summarized in terms of some straightforward formula, such as binary consistency. However, this recognition does not immediately lead to alternative characterizations that might be regarded as satisfactory, even though the inadequacies of the traditional assumptions of rational behavior standard used in economic theo...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2010
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2010.08.015