Arbeitspapier

The weak rationality principle in economics

The weak rationality principle is not an empirical statement but a heuristic rule of how to proceed in social sciences. It is a necessary ingredient of any ?understanding? social science in the Weberian sense. In this paper, first this principle and its role in economic theorizing is discussed. It is also explained why it makes sense to use a micro-foundation and, therefore, employ the rationality assumption in economic models. Then, with reference to the ?bounded rationality? approach, the informational assumptions are discussed. Third, we address the assumption of self-interest which is often seen as a part of the rationality assumption. We conclude with some remarks on handling the problems of ?free will? as well as ?weakness of the will? within the economic approach.

Sprache
Englisch

Erschienen in
Series: CESifo Working Paper ; No. 1410

Klassifikation
Wirtschaft
Economic Methodology
Thema
rationality
self interest
micro-foundation
bounded rationality
Rationales Verhalten
Eigeninteresse
Mikroökonomische Fundierung
Beschränkte Rationalität
Theorie

Ereignis
Geistige Schöpfung
(wer)
Kirchgässner, Gebhard
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2005

Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Kirchgässner, Gebhard
  • Center for Economic Studies and ifo Institute (CESifo)

Entstanden

  • 2005

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