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On the Rationality of Decisions with Unreliable Probabilities

, John. 2007. Is Rationality Normative? Disputatio 23 (2): 161–178. de Finetti, Bruno. 1937. La Prévision: ses lois logiques, ses sources subjectives. Annales de l’Institut Henri Poincaré 7 (1): 1–68. Ditlevsen, Ove. 1994. Distribution Arbitrariness in Structural Reliability. In Structural Safety and Reliability , edited by G. Schueller, M. Shinozuka & J. Yao. Leiden: Balkema. Dubois, Didier & Henri Prade. 1980. Fuzzy Sets and Systems . New York: Academic Press. Dubois, Didier, Henri Prade & Ronald Yager. 1996. Fuzzy Information

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Regulatory Impact Assessment (RIA) and Rationality of Law – Legal Aspects

Union states), Warszawa: Krajowa Szkoła Administracji Publicznej. Lianos, I. and Geradin, D. (2013). Handbook on European Competition Law: Substantive Aspects. Cheltenham-Northhampton: Edward Elgar Publishing Limited. Miller, R. Le Roy (2010). Economics Today. Pearson. Machelski, T. (2011). Racjonalność ekonomiczna jako podstawa legalności aktów normatywnych organów samorządu terytorialnego (Economic rationality as basis for the legality of acts of the local government). Finanse Komunalne, 7-8. Matczak, M

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Practical Rationality – its Nature and Operation

Abstract

The article presents a proposal of explanation what practical rationality is, how it works and what are its criteria. In order to define practical rationality, the author starts from the general characteristics of reason, and then in the realm or reason activity distinguishes practical rationality from theoretical rationality. The necessary conditions of practical rationality are presented, as well as its standing between freedom and values. Next, the sources and nature of practical reasons are characterized, as well as their relation to values and desires. The problem of practical syllogism is briefly commented on. In the final part of the article the author proposes five criteria of practical rationality.

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Pension provision by small employers in Ireland: an analysis of Personal Retirement Savings Account (PRSA) using bounded rationality theory

attitudes towards PRSAs on their employees’ choices to save for retirement. The presence or absence of employee members in pension schemes may be explained, in part, by the attitudes and decision-making processes of the small employers whichare formed within the legal and institutional environment shaped by government and pension providers. Adopting bounded rationality as the theoretical perspective on decision-making, the current paper aims to illuminate small employers’ decision-making processes on pension provision. Bounded rationality proposes that the decision

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On the Homo Œconomicus Model of Rationality

Abstract

The study intends to deliver a logical analysis of the well-known (and too much used) model of rationality named homo œconomicus. To this end, it is put into evidence the reductionism of the model (more, its cartesianism and mechanicism), by logically assessing the basic principle and the axioms and, also, the relaxations introduced over time. The paper gets the conclusion that economists tried successively to save the homo œconomicus model over time, but all these attempts did nothing but block the developments of the economic theory. Finally, the research organizes into a diachronic matrix the different ways in which economists actualized the genuine model in order to put it in line with the actual behaviour of the economic subject.

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Investors’ rationality. An analysis of the investment policy implications on shares valuation

Abstract

The investment policy is an important vehicle of growth for a company. Therefore, it should be one of the most important signals for investors on the capital market. We use the statistical analysis of the investors’ reactions to different patterns of investment policy to highlight their preference for an active investment policy and the changes induced by the financial crisis. By a comparative analysis of investors’ preferences with the information on the accounting-based performance recorded simultaneously and in the future economic exercise, we focus on the extent and limits of the investors’ rationality around the financial crisis.

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Rationality and Subjectivity in Preliminary Analysis of Acquisition Options of Technical Systems

Abstract

Modeling the acquisition decision and, consequently, managing the capabilities of technical systems involves multiple options that need to be optimized first, based on universal constraints such as time, quality, cost, etc. The criterion of use (private or institutional), according to which analyzes can evolve differently, is also important. Regardless of the way in which these considerations are taken, there is always a difference of approach given by the quantitative and / or qualitative tools used but also by biases, heuristics and mindsets. The article analyzes succinctly, on an example of calculation (based on a matrix used in the theory of decision to evaluate the different alternatives made available, when we have a basic model to be referred to), the universe of these analytical modalities, underlining the idea of making analyzes using a maximum level of objectivity and minimizing as much as possible subjectivism. It has been chosen as a way of applying the field of procurement of technical systems with the possibility of highlighting as many aspects as possible on the decisional criteria. Critical analysis of the robustness of the choices made by the human factor as a rational decision-maker is presented, as it is seen in the classical economic theory, but taking into account the limitations highlighted by modern theories in the fields of psychology and information theory

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Is Rationality Normative?

References Broome, John. 2005. Does rationality give us reasons? Philosophical Issues 15: 321–37. Broome, John. 2006. ‘Reasoning with preferences?’ In Preference Formation and Well-Being , ed. by Serena Olsaretti. Cambridge: Cambridge University Press. Broome, John. 2007a. Wide or narrow scope? Mind 116: 359–70. Broome, John 2007b. ‘Requirements’. In Homage à Wlodek: Philosophical Papers Dedicated to Wlodek Rabinowicz , ed. by Toni Rønnow-Rasmussen, Björn Petersson, Jonas Josefsson and Dan Egonsson, at www

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The impact of mathematical competences and cognitive effort on the appearance of the framing effect

. Kahneman, D., & Tversky, A. (1979). Prospect theory: an analysis of decision under risk. Econometrica, 47(2), 263-292. Kowalski, T. (2002). The Simonian bounded rationality hypothesis and the expectation formation mechanism. Poznań University of Economics Review, 2(1), 5-24. Kuhberger, A. (1998). The influence of framing on risky decisions: a meta-analysis. Organizational Behavior and Human Decision Processes, 75(1), 23-55. Kuhberger, A., Schulte-Meckleenbeck, M., & Perner, J. (1999). The effect of framing reflection

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Quine and the Contemporary Debate on Mindreading

: Clarendon Press. Davidson, Donald. 2004. Problems of Rationality . Oxford: Clarendon Press. Dennett, Daniel C. 1987. Intentional Stance . Cambridge, MA - London: MIT Press. Elian, Naomi, Hoerl, Cristoph, McCormack, Teresa & Roesseler, Johannes (eds.). 2005. Joint Attention: Communication and other minds. Oxford: Oxford University Press. Fodor, Jerry 1987. Psychosemantics . Cambridge, MA: MIT Press. Gallese, Vittorio. 2001. The ‘‘shared manifold’’ hypothesis: From mirror neurons to empathy. Journal of Consciousness Studies 8 (5–7): 33

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