This paper criticizes the divide ‘by assumption’ between rational choice and behavioral choice and proposes a way of reconnecting ‘bounded’ and ‘unbounded’ rationality. The connection is an epistemic model of rational discovery and problem modeling which can complement both the descriptive behavioral models of search and choice and the prescriptive model of rational choice. The concept of epist...

Abstract A standard interpretation of the character Hamlet is that he indecisive, even pathologically so, and his indecisiveness manifested by lengthy passage time between when told father’s death was a murder kills perpetrator. Rational choice in economics concerns connection means ends. person rational if, given her ends (her goals), she chooses reasonable to achieve those With uncertainty, b...

Two independent approaches have been used to analyze choices. A prominent notion is rationalizability: individuals choose maximizing binary relations. An alternative choices in terms of standards behavior with the von Neumann–Morgenstern (vNM)-stability. We introduce a new concept ( r - $r \mbox{-} $ stability) that turn extends stability and rationality. Our main result establishes every ratio...

This paper contributes to the theory of rational choice under sequential criteria. Following the approach initiated by Manzini and Mariotti (2007) for single-valued choice functions, we characterize choice correspondences that are rational by two sequential criteria under a mild consistency axiom. Rationales ensuring the sequential rationalization are explicitly constructed and a uniquely deter...

This paper proposes a way to understand transformative choices, choices that change ‘who you are.’ First, it distinguishes two broad models of transformative choice: 1) ‘event-based’ transformative choices in which some event—perhaps an experience—downstream from a choice transforms you, and 2) ‘choice-based’ transformative choices in which the choice itself—and not something downstream from th...

The effect of carbon dioxide on the neuromuscular blocking effect of the non-depolarizing muscle relaxants tubocurarine and gallamine has been known for some time. Kalow (1954) noted that the action of tubocurarine on an isolated muscle preparation was increased by lowering the pH. Payne (1958) found that in the anaesthetized cat the activity of tubocurarine was increased with a reduction of pH...