Dissertations / Theses on the topic 'Economic rationalism'
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Byrne, Paul. "Economic rationalism : the new right and new wrongs /." Title page, index and introduction only, 1993. http://web4.library.adelaide.edu.au/theses/09AR/09arb9953.pdf.
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Culshaw, T. A. "Political troglodytes and economic lunatics : is economic rationalism in Australia's best interests? /." Title page, contents and abstract only, 1994. http://web4.library.adelaide.edu.au/theses/09AR/09arc968.pdf.
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Kayal, Sultan. "Revolution and rationalism : Cuban economic development since the revolution /." Title page, contents and introduction only, 1993. http://web4.library.adelaide.edu.au/theses/09AR/09ark235.pdf.
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Rathbone, Dominic. "Economic rationalism and rural society in third-century Egypt : the Heronimos Archive and the Appianus estate /." Cambridge (GB) ; New York ; Port Chester (N.Y.) [etc.] : Cambridge university press, 1991. http://catalogue.bnf.fr/ark:/12148/cb37454663k.
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Spies-Butcher, Ben. "Understanding the concept of social capital: Neoliberalism, social theory or neoliberal social theory?" University of Sydney, 2006. http://hdl.handle.net/2123/1326.
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Doctor of Philosophy (PhD)This thesis examines the growing debate around the concept of social capital. The concept has been heralded by many as a means of uniting the social sciences, particularly economics and sociology, and of overcoming ideological divisions between left and right. However, critics argue that the concept is poorly theorised and provides little insight. More radical critics have claimed the concept may be a neo-liberal ‘Trojan horse’, a mechanism by which the atomistic thinking of neoclassical economics colonises social theory. I examine these more radical claims by exploring the origins of the concept of social capital within rational choice economics. I argue that we should differentiate between two types of potential colonisation. The first is a form of methodological colonisation, whereby overly abstract, reductionist and rationalist approaches (which I term modernist) are extended into social theory. The second is a form of ideological colonisation, whereby a normative commitment to individualism and the market is extended into social theory. I argue that the concept of social capital has been the product of a trend within rational choice economics away from the extremes of modernism. In this sense the concept represents an attempt to bring economics and social theory closer together, and a willingness on the part of rational choice theorists to take more seriously the techniques and insights of the other social sciences. However, I argue that this trend away from modernism has often been associated with a reaffirmation of rational choice theorists’ normative commitment to individualism and the market. In particular, I argue the concept of social capital has been strongly influenced by elements of the Austrian economic tradition, and forms part of a spontaneous order explanation of economic and social systems. I then apply these insights to the Australian social capital debate. I argue that initially the Australian social capital debate continued an earlier debate over economic rationalism and the merits of market-orientated economic reform. I argue that participants from both sides of the economic rationalism debate used the concept of social capital to move away from modernism, but continued to disagree over the role of individualism. Finally, I argue that confusion between moving away from modernism, and moving away from market ideology, has led some Third Way theorists to misconstrue the concept as a means to overcome ideology.
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Spies-Butcher, Ben. "Understanding the concept of social capital: Neoliberalism, social theory or neoliberal social theory?" Thesis, The University of Sydney, 2005. http://hdl.handle.net/2123/1326.
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This thesis examines the growing debate around the concept of social capital. The concept has been heralded by many as a means of uniting the social sciences, particularly economics and sociology, and of overcoming ideological divisions between left and right. However, critics argue that the concept is poorly theorised and provides little insight. More radical critics have claimed the concept may be a neo-liberal ‘Trojan horse’, a mechanism by which the atomistic thinking of neoclassical economics colonises social theory. I examine these more radical claims by exploring the origins of the concept of social capital within rational choice economics. I argue that we should differentiate between two types of potential colonisation. The first is a form of methodological colonisation, whereby overly abstract, reductionist and rationalist approaches (which I term modernist) are extended into social theory. The second is a form of ideological colonisation, whereby a normative commitment to individualism and the market is extended into social theory. I argue that the concept of social capital has been the product of a trend within rational choice economics away from the extremes of modernism. In this sense the concept represents an attempt to bring economics and social theory closer together, and a willingness on the part of rational choice theorists to take more seriously the techniques and insights of the other social sciences. However, I argue that this trend away from modernism has often been associated with a reaffirmation of rational choice theorists’ normative commitment to individualism and the market. In particular, I argue the concept of social capital has been strongly influenced by elements of the Austrian economic tradition, and forms part of a spontaneous order explanation of economic and social systems. I then apply these insights to the Australian social capital debate. I argue that initially the Australian social capital debate continued an earlier debate over economic rationalism and the merits of market-orientated economic reform. I argue that participants from both sides of the economic rationalism debate used the concept of social capital to move away from modernism, but continued to disagree over the role of individualism. Finally, I argue that confusion between moving away from modernism, and moving away from market ideology, has led some Third Way theorists to misconstrue the concept as a means to overcome ideology.
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Waterhouse, Jennifer Marie. "Changing the Culture of Technically Oriented Public Sector Organisations: Transformation, Sedimentation or Hybridisation?" Thesis, Queensland University of Technology, 2003. https://eprints.qut.edu.au/15886/3/Jennifer_Waterhouse_Thesis.pdf.
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Over the last two decades the public sector has been the target of significant change driven primarily by advocates of public choice theory who argue that the public sector is too large and inefficient. Changes, grouped under the banner of New Public Management, have therefore been aimed at achieving greater financial accountability through the adoption of private sector management techniques and the opening up to competition of monopolistic government supplied services.
Recent reappraisals of these changes have suggested that they have failed to adequately address issues of social justice. It has therefore been proposed that public sector organisations now need to consider more egalitarian methods of service delivery through greater public consultation and involvement in decision making processes.
Studies over the last 20 years in the public sector have tended to concentrate on change aimed at achieving New Public Management outcomes. This study adds to theory of culture and culture change in public sector organisations through exploring a change purposefully enacted to enable an organisation to meet both economic rationalist and egalitarian objectives. The primary aim of this thesis is to explore a planned process of cultural change within a technically oriented, public sector organisation to determine the processes used to undertake such change, the resulting outcomes and why these outcomes occur. A case study was used to investigate these areas.
The study was longitudinal and used a combination of methods including focus groups, interviews, non-participant observation and document analysis. Historical data was first obtained to form a base from which to examine the process of planned change over a two year period. This method allowed consideration of the impact of contextual changes on the planned process that resulted in some unintended consequences in regard to how change was being driven.
The findings conclude that models of planned change that include mechanisms through which diversity is encouraged may provide arenas through which conflict can act as a positive dynamic for change. The outcome of the planned change evidences how a purposefully created hybrid organisational form may be capable of addressing the sometimes conflicting goals of economic rationalism and citizenship participation.
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Waterhouse, Jennifer Marie. "Changing the Culture of Technically Oriented Public Sector Organisations: Transformation, Sedimentation or Hybridisation?" Queensland University of Technology, 2003. http://eprints.qut.edu.au/15886/.
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Over the last two decades the public sector has been the target of significant change driven primarily by advocates of public choice theory who argue that the public sector is too large and inefficient. Changes, grouped under the banner of New Public Management, have therefore been aimed at achieving greater financial accountability through the adoption of private sector management techniques and the opening up to competition of monopolistic government supplied services. Recent reappraisals of these changes have suggested that they have failed to adequately address issues of social justice. It has therefore been proposed that public sector organisations now need to consider more egalitarian methods of service delivery through greater public consultation and involvement in decision making processes. Studies over the last 20 years in the public sector have tended to concentrate on change aimed at achieving New Public Management outcomes. This study adds to theory of culture and culture change in public sector organisations through exploring a change purposefully enacted to enable an organisation to meet both economic rationalist and egalitarian objectives. The primary aim of this thesis is to explore a planned process of cultural change within a technically oriented, public sector organisation to determine the processes used to undertake such change, the resulting outcomes and why these outcomes occur. A case study was used to investigate these areas. The study was longitudinal and used a combination of methods including focus groups, interviews, non-participant observation and document analysis. Historical data was first obtained to form a base from which to examine the process of planned change over a two year period. This method allowed consideration of the impact of contextual changes on the planned process that resulted in some unintended consequences in regard to how change was being driven. The findings conclude that models of planned change that include mechanisms through which diversity is encouraged may provide arenas through which conflict can act as a positive dynamic for change. The outcome of the planned change evidences how a purposefully created hybrid organisational form may be capable of addressing the sometimes conflicting goals of economic rationalism and citizenship participation.
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Rosevear, Sam. "Economic rationalism - the key to national competitive advantage, restructuring and employment growth? : lessons drawn from the policies advocated and implemented under the Hawke and Keating governments of 1983 to 1996." Title page, contents and abstract only, 1999. http://web4.library.adelaide.edu.au/theses/09ARM/09armr817.pdf.
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Bibliography: leaves 262-283. This thesis examines whether economic rationalist policies, as implemented by Labor governments in Australia in the 1983-1996 period, are the key to achieving national competitive advantage, restructuring and employment growth. It is argued that, whilst the policies made some progress in this regard, more could have been achieved through the use of strategic industry policies. It is argued that the key weakness of the rationalist policies of the period is that of an uncritical faith in market forces to produce economic prosperity. Markets fail to produce competence in a range of crucial activities such as research and development, technology diffusion, work organisation, management, education and training, finance and export marketing. This thesis argues that strategic industry policies can foster national excellence in such capabilities, and so bring improvements in national competitive advantage, restructuring and employment growth, beyond that achievable by markets alone.
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Köhler, Jonathan Hugh. "Bounded rationality in savings decisions." Thesis, University of York, 1996. http://etheses.whiterose.ac.uk/10878/.
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Lincoln, M. G. "The impact of economic rationalism and new public management on health and welfare services : accounting for the gap between social health care policy and practice in two Scottish maternity care units." Thesis, University of Edinburgh, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.653919.
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The administration of welfare in Britain and beyond, in the last thirty years, has seen a series of changes culminating into the new public management (NPM) approach in the delivery of public services. Current literature suggests that traditional collectivist values underlying state welfarism are at risk under the precepts NPM and economic rationalism (Hood 1991; Clarke and Newman 1997; Hunter 2002). Selecting decentralised budget management as one key aspect of NPM, this thesis tests out its impact on two key policy recommendations, ‘service user choice’ and ‘continuity of care’ as set out by the Cumberledge Report (1993). The design of the enquiry consists of a merger of two opposite methodological approaches: questions put to participants are informed by a NPM framework; at the same time, the openness of the interview schedule also allowed, in part, the inclusion of a grounded theoretical approach, characteristic of Glaser and Strauss (1967). The study took place in Scotland where two highly contrastive maternity units, in terms of size, internal culture and geographical location, were investigated. Tape-recorded in-depth interviews, of around 45-90 minutes each, were carried out with a sample of 43 consultant obstetricians, junior doctors, paediatricians, midwives, and key financial management personnel. The comparison of the two sites highlights how organisational size, structure and the midwifery system in place can impinge on the viability and implementation of social health policies such as those recommended in Changing Childbirth. Whilst economic rationalism has hampered the full expression of service user choice and continuity of care owing largely to inadequate staffing or practitioner skills, the dictates of new public management have had a more turbulent impact on the larger than on the smaller unit. One contribution of this thesis is the finding that service user choice is not only constrained by economic rationalism but by internal institutional agendas as well - a consideration, which, to a certain extent, is likely to be applicable to all health and welfare services. Another key contribution is the identification of the distinct forces that combine to obstruct the implementation of social health policies. Apart from complex economic, organizational and institutional influences, one significant obstructing influence is the obstetricalisation of childbirth. The gap between social health policy and practice is widening further as mergers take precedence over the retention of smaller, relatively low-tech maternity care units. This structural change that is aimed at fulfilling the perceived needs of ‘medical safety’ is increasingly likely to render Changing Childbirth recommendations into impracticable propositions. The thesis concludes that a comprehensive approach towards health and welfare, where service user choice and continuity of care are recognised, and which considers the social context in which economic action takes place is expected to lead to improved health and welfare and outcomes overall.
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Lopez-Mejia, Alejandro. "Liquidity constraints, near rationality and consumption." Thesis, Queen Mary, University of London, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.390359.
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Neugeboren, Robert Howard. "Rationality and the methodology of neoclassical economics." Thesis, University of Cambridge, 1989. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.317905.
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Wahlbeck, David, Carl Sandberg, and Hannes Bernéus. "Investors´ Rationality : Behavioral Finance." Thesis, Jönköping University, JIBS, Business Administration, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-7734.
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McMillan, Gregory Neil. "30 years on from Kangan: an analysis of the current policy position of TAFE Queensland." Thesis, Queensland University of Technology, 2007. https://eprints.qut.edu.au/16569/1/Greg_McMillan_Thesis.pdf.
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Within Australia, Vocational Education and Training (VET) encompasses the
Technical and Further Education (TAFE) sector, private providers, community
education and training, and work-based training. Additionally, some VET activities
are embedded within the secondary school and university sectors. As the major
provider of Government-funded vocational education and training, TAFE has
undergone significant change since its establishment in the 1970's. Historically,
TAFE has provided broader education and social opportunities for individuals
beyond a narrower focus on the achievement of training outcomes for economic
benefits. However, shifts in policy direction in 1980's and 1990's have seen the
delineation between broader education and economic outcomes becoming less
distinct. While this is perhaps true of all education sectors, it has potentially
impacted more on TAFE than any other sector. This thesis investigated these
impacts within the context of TAFE's social service and economic utility roles. This
was undertaken by analysing seven seminal Commonwealth and Queensland
documents and by analysing the findings of interviews with six senior executives
within Queensland's Department of Employment and Training and TAFE. The key
findings of this thesis indicate that TAFE Queensland continues to perform a number
of functions or activities that can be associated with a social service role. However,
the findings also indicate that, for TAFE Queensland, there has been a shift towards
an economic utility role. Since the Kangan Report (1974), TAFE's role has become
more focussed on meeting Queensland's economic and industry needs within a broad
view that Australia needs a flexible workforce, qualified to industry standards of
competence and able to compete in a globalised world.
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McMillan, Gregory Neil. "30 years on from Kangan: an analysis of the current policy position of TAFE Queensland." Queensland University of Technology, 2007. http://eprints.qut.edu.au/16569/.
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Within Australia, Vocational Education and Training (VET) encompasses the Technical and Further Education (TAFE) sector, private providers, community education and training, and work-based training. Additionally, some VET activities are embedded within the secondary school and university sectors. As the major provider of Government-funded vocational education and training, TAFE has undergone significant change since its establishment in the 1970's. Historically, TAFE has provided broader education and social opportunities for individuals beyond a narrower focus on the achievement of training outcomes for economic benefits. However, shifts in policy direction in 1980's and 1990's have seen the delineation between broader education and economic outcomes becoming less distinct. While this is perhaps true of all education sectors, it has potentially impacted more on TAFE than any other sector. This thesis investigated these impacts within the context of TAFE's social service and economic utility roles. This was undertaken by analysing seven seminal Commonwealth and Queensland documents and by analysing the findings of interviews with six senior executives within Queensland's Department of Employment and Training and TAFE. The key findings of this thesis indicate that TAFE Queensland continues to perform a number of functions or activities that can be associated with a social service role. However, the findings also indicate that, for TAFE Queensland, there has been a shift towards an economic utility role. Since the Kangan Report (1974), TAFE's role has become more focussed on meeting Queensland's economic and industry needs within a broad view that Australia needs a flexible workforce, qualified to industry standards of competence and able to compete in a globalised world.
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Le, Tollec Agnès. "Finding a New Home (Economics) : Towards a Science of the Rational Family, 1924-1981." Thesis, université Paris-Saclay, 2020. http://www.theses.fr/2020UPASN006.
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Cette thèse retrace l’histoire de l’économie de la famille aux États-Unis entre 1924 et 1981. Je montre que dans la première partie du XXe siècle, les économistes voyaient principalement les comportements au sein de la famille comme le résultat des normes sociales. Par suite, la famille restait pour l’essentiel à la périphérie de l’économie. A la fin des années 1920 et au début des années 1930, le désintérêt de la plupart des économistes pour ce sujet a permis la création d’une économie de la famille au sein de départements d’économie domestique, distincts des départements traditionnels d’économie. Cette sous-discipline explore les contraintes structurelles (psychologiques, sociales et économiques) qui pèsent sur les comportements familiaux tout en cherchant à améliorer la situation des familles. Elle reste marginale en économie, d’une part, parce que les comportements familiaux semblent trop différents des comportements marchands ; d’autre part, parce que des femmes pour l’essentiel la composent. Après 1945, les économistes analysent les comportements familiaux comme étant le résultat de la maximisation de la satisfaction des familles par rapport à des contraintes économiques. L’économie de la famille rejoint alors l’économie néoclassique et devient majoritairement masculineThis dissertation traces the displacement of family economics from the periphery to the center of economics. I show that in the early twentieth century, most economists viewed the family as ruled by social norms – tradition, customs and morals. Accordingly, they did not regard the study of the family as coming within the scope of economics. Women economists who had an interest in family were able to create a separate family economics field within home economics departments in the late 1920s and early 1930s. This field explored the structural constraints on household behavior and was geared towards increasing family welfare. Because household behavior seemed so different from market behavior and because it was a female field, studies on the family remained marginal within economics. After World War II, economists began to interest themselves in consumption and from the 1960s they accounted for a wide range of family behaviors using a utility maximization framework. As family economics became mainstream, it was masculinized
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Maletta, Héctor. "La evolución del Homo economicus: problemas del marco de decisión racional en Economía." Economía, 2012. http://repositorio.pucp.edu.pe/index/handle/123456789/117557.
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Since its beginnings, and more clearly since the mid 1800, Economics has been resting on the assumption that economic agents make rational decisions, maximizing their utility or well-being according to their own preferences and interests. The economic order resulting from that plurality of rational decisions is regarded as an efficient and Pareto-optimum one. Several authors have questioned the validity of those assumptions, and this has entailed a gradual transformation of the assumptions. This paper discusses the problems faced by the idea of a fully rational Homo economicus, the adjustments and defensive measures adopted by various tendencies within Economics to overcome those problems and counter various related theoretical and methodological criticisms. The paper also discusses more recent conceptions of economic reality that are at variance with the traditional view, especially those linked to behavioural, institutional and evolutionary Economics.Desde sus inicios, y más claramente desde mediados del siglo XIX, la Economía se ha basado en el supuesto de que los agentes económicos toman decisiones racionales, maximizando su utilidad o bienestar de acuerdo a sus propias preferencias e intereses. El orden económico resultante de esa pluralidad de decisiones es considerado óptimo o eficiente. Diversos autores han cuestionado la validez de estos supuestos y ello ha motivado una gradual transformación de esos mismos supuestos. En este artículo se examinan los problemas que enfrenta la noción de un Homo economicus completamente racional, las correcciones y medidas defensivas adoptadas por distintas tendencias dentro del análisis económico a fin de resolver esos problemas y contrarrestar críticas teóricas y metodológicas, y el desarrollo reciente de algunas concepciones de la realidad económica que se apartan de aquella concepción tradicional, en especial las vinculadas a la economía conductual, a la economía institucional y a la economía evolucionaria.
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Morales, Siles Antonio Jose. "Learning, imitation and economic rationality." Thesis, University College London (University of London), 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.313824.
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Jullien, Dorian. "A methodological perspective on behavioral economics and the role of language in economic rationality." Thesis, Nice, 2016. http://www.theses.fr/2016NICE0012/document.
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Dans cette thèse, nous proposons une perspective méthodologique sur le double rôle du langage dans la rationalité économique, les utilisations de langage par les économistes pour la théoriser et les utilisations de langage par les agents économiques pour l’exprimer, pour clarifier trois principales questions (et leurs connexions) qui sous-tendent les débats entre économie comportementale et économie standard : le problème de l’unification théorique vis-à-vis des trois dimensions de la rationalité économique, la question de l’interdisciplinarité entre économie et Psychologie, et le problème du positif/normatif dans les modèles de comportements individuels. Concernant le problème du positif/normatif et le rôle du langage dans les comportements des agents économiques, notre intention est de fournir, au-delà de la simple clarification, une critique constructive des contributions de l’économie standard comme de l’économie comportementale. Suivant la position de l’enchevêtrement du philosophe Hilary Putnam et des philosophes-économistes Vivian Walsh et Amartya Sen, il est soutenu que l’économie tant standard que comportementale propose une articulation insatisfaisante des dimensions positive et normative dans les modèles de comportements individuels; et que la reconnaissance de l’enchevêtrement de faits, de valeurs et de conventions peut être théoriquement et empiriquement fructueuse. Prêter attention au rôle du langage dans les comportements des agents économiques montre parfois qu’un comportement apparemment irrationnel peut en fait être défendu comme rationnel; c’est pourquoi nous soutenons que, et montrons comment, l'axiome implicite - connu sous le nom d’invariance à la description - dans les modèles standards de comportements individuels empêchant l’influence du langage doit être affaibli (mais pas complètement supprimé), contrairement aux positions de la plupart des économistes standards et comportementauxIn this dissertation, we propose a methodological perspective on the twofold role of language in economic rationality, economists’ uses of language to theorize it and economic agent’s uses of language to express it, can clarify three main issues (and their connections), underlying the behavioral versus standard economics debates: the issue of the theoretical unification regarding the three dimensions of economic rationality, the issue of interdisciplinarity between economics and Psychology and the positive/normative issue within models of individual behaviors. Regarding the positive/normative issue and the role of language in the behaviors of economic agents, the intention is to provide a constructive criticism of contributions from behavioral as well as standard economists. Following the entanglement thesis of philosopher Hilary Puntam and philosophers-economists Vivian Walsh and Amartya Sen, it is argued that both standard and behavioral economists propose an unsatisfying articulation between the positive and normative dimensions of models of individual behaviors; and that recognizing the entanglement of facts, values and conventions can actually be theoretically and empirically fruitful. Paying some attention to the role of language in the behaviors of economic agents may sometimes show that a seemingly irrational behavior can in fact be defended as rational; hence we argue that, and show how, the implicit axiom -- known as ‘description invariance’ -- in standard models of individual behaviors preventing the influence of language needs to be weakened (though not dropped entirely), contrary to the positions of most behavioral and standard economists
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Baker, Rachel Mairi. "Economic rationality, health and lifestyle choices." Thesis, University of Newcastle Upon Tyne, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.397297.
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Duchêne, Sébastien. "Quatre essais sur la rationalité limitée en économie et finance comportementales." Thesis, Université Côte d'Azur (ComUE), 2017. http://www.theses.fr/2017AZUR0022.
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Cette thèse aborde le thème de la rationalité limitée à travers quatre chapitres, associant modèles théoriques, expériences en laboratoire et analyses statistiques et économétriques. Dans les deux premiers chapitres, nous testons la validité de nouveaux modèles en économie qui utilisent le formalisme mathématique de la mécanique quantique pour rendre compte de biais cognitifs. Au sein du chapitre 1, nous considérons des modèles expliquant l'effet d'ordre et en dérivons de nouvelles prédictions expérimentales. Dans le chapitre 2, nous proposons une expérience originale pour tester une large gamme de modèles quantiques qui rendent compte de l'erreur de conjonction. Les deux groupes de modèles échouent à nos tests empiriques. Nous discutons alors de possibles pistes d'améliorations de ces modèles. Le chapitre 3 explore la façon dont les individus traitent des informations économiques successives, complexes et abondantes. Nos résultats expérimentaux montrent l'inaptitude des sujets à combiner de telles informations, ce qui confirme la théorie de la trace floue. Enfin, le chapitre 4 relève de la finance expérimentale. Il étudie comment l'achat sur marge (respectivement la vente à découvert) augmente (diminue) le niveau des prix, la volatilité, l'hétérogénéité des marchés et les anticipations de prix des traders ainsi que la façon dont il modifie les stratégies de trading. Nos résultats mettent en évidence les nettes conséquences de chacune de ces techniques prises séparément, et identifient des phénomènes inattendus lorsqu'elles sont combinées. Nos analyses ouvrent la voie à une meilleure prise en compte de ces interactions déstabilisatrices par les autorités de régulationThis thesis studies bounded rationality through four chapters, combining theoretical models, laboratory experiments and statistical and econometric analyzes. In the first two chapters, we test the validity of new models in economics which rely on the mathematical formalism of quantum mechanics to account for cognitive biases. In chapter 1, we consider models explaining the order effect and we derive new experimental predictions. In chapter 2, we propose an original experiment to test a wide range of quantum models that account for the conjunction fallacy. Both groups of models fail in our empirical tests and we then discuss possible ways to improve these models. The third chapter explores how individuals deal with successive, complex and abundant economic information. Our experimental results show the subjects' inability to combine such information, which confirms the fuzzy trace theory. Finally, the fourth chapter deals with experimental finance. It studies how margin buying (respectively short selling) increases (decreases) price levels, volatility, heterogeneity of markets, and traders' price expectations, as well as how it changes trading strategies. Our results highlight the clear consequences of each of these techniques used alone, and point to unexpected phenomena when both are combined. Regulatory authorities could take advantage of our analyzes to reduce the destabilization introduced by these techniques
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Burnell, Stephen. "Sunspots and rationality." Thesis, University of Cambridge, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.303954.
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Gee, Max. "Rationality and Expected Utility." Thesis, University of California, Berkeley, 2015. http://pqdtopen.proquest.com/#viewpdf?dispub=3733384.
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We commonly make a distinction between what we simply tend to do and what we would have done had we undergone an ideal reasoning process — or, in other words, what we would have done if we were perfectly rational. Formal decision theories, like Expected Utility Theory or Risk-Weighted Expected Utility Theory, have been used to model the considerations that govern rational behavior.
But questions arise when we try to articulate what this kind of modeling amounts to. Firstly, it is not clear how the components of the formal model correspond to real-world psychological or physical facts that ground judgments about what we ought to do. Secondly, there is a great deal of debate surrounding what an accurate model of rationality would look like. Theorists disagree about how much flexibility a rational agent has in weighing the risk of a loss against the value of potential gains, for example.
The goal of this project is to provide an interpretation of Expected Utility Theory whereby it explicates or represents the pressure that fundamentally governs how human agents ought to behave. That means both articulating how the components of the formal model correspond to real-world facts, and defending Expected Utility Theory against alternative formal models of rationality.
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Okasha, Ahmed E. "Agent-based computational economics : studying the effect of different levels of rationality on macro-activities for economic systems." Thesis, University of Kent, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.529398.
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Faulkner, Philip Bernard. "Three essays on rationality, intentionality and economic agency." Thesis, University of Cambridge, 2003. https://www.repository.cam.ac.uk/handle/1810/244841.
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The central theme of this dissertation is the contribution that the theory of human ontology developed by the philosopher John Searle can make to economics. Searle's account of the cognitive functioning associated with rational behaviour provides a framework within which to analyse the role of conscious and non-conscious factors in rational behaviour; the nature and functioning of discursive and tacit knowledge; and the distinction between intentional and non-intentional states. Using this framework, each of the three essays which make up the core of this dissertation examines aspects of the conception of economic agency associated with a different field in economics; critical realism, behavioural finance and mainstream microeconomics. The first essay, which looks at the critical realist conception of the human actor in Tony Lawson 's Economics and Reality, argues that Lawson leaves undeveloped the notion of tacit knowledge, failing to explain important differences between knowledge that functions by virtue of conscious reflection and that which functions tacitly. From a Searlean perspective the key omission is argued to be the technical notion of intentionality, upon which Searle develops an account of tacit knowledge. I show how this notion of intentionality evades my criticism of Lawson. The second essay examines the conception of agency associated with behavioural finance from the perspective of the human ontology proposed by Searle. The principle theme of the essay is that each of the psychological traits that behavioural finance draws on, namely prospect theory, judgmental heuristics and mental accounting, involves the interplay of both conscious and non-conscious factors. Consequently the agent of behavioural finance is a construction that is readily intelligible in Searlean terms. I argue that this finding leads to a conception of the rationality of the agent encountered in the behavioural finance literature that is quite different from the way in which it is commonly presented. The mainstream microeconomic conception of the human actor is the focus of the final essay, in which it is argued that the treatment of human knowledge on this approach neglects a number of important factors in economic behaviour. The first half of the essay uses a simple Cournot duopoly game under conditions of complete and incomplete information in order to highlight the usual assumptions about actors ' knowledge in mainstream models. On the basis of these findings the second half of the essay then considers three aspects of human agency that these models neglect: non-probabilistic forms of uncertainty and ignorance, the subjectivity of knowledge and the role of tacit knowledge.
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Dindo, Pietro Dino Enrico. "Bounded rationality and heterogeneity in economic dynamic models." [Amsterdam] : Amsterdam : Thela Thesis ; Universiteit van Amsterdam [Host], 2007. http://dare.uva.nl/document/44334.
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Rafaï, Ismaël. "Prise en compte de l'attention limitée dans l'analyse économique." Thesis, Université Côte d'Azur (ComUE), 2019. http://theses.univ-cotedazur.fr/2019AZUR0027.
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Cette thèse contribue à la prise en compte de l'attention limitée dans l'analyse économique. Nous défendons l'idée que les processus d'allocation de l'attention peuvent être étudiés à travers un processus de production avec en input l'attention allouée (la quantité de ressources attentionnelles investies dans la décision), et en output l'attention effective (la quantité d'information contenue dans la décision). Afin d'améliorer la compréhension de ces processus, nous proposons trois essais empruntant des méthodes à la psychologie et aux sciences cognitives. Dans le premier chapitre, nous manipulons l'ordre de présentation entre une information sur les incitations et un stimulus visuel, dans un paradigme de choix forcé à deux alternatives. L’attention allouée y est contrôlée, et nous mesurons l’attention effective à l’aide d’un modèle de détection du signal. Nous montrons que la dernière information présentée a un plus grand poids dans la décision et attribuons cet effet à une division de l'attention. Le second chapitre propose une expérience dans laquelle les participants allouent une attention coûteuse, afin de réduire l'incertitude d’une tâche de discrimination. Ainsi, nous mesurons à la fois l'attention allouée (par le biais du temps de réponse) et l'attention effective (par le biais de la performance). Cette expérience nous permet d’étudier les dilemmes sociaux attentionnels (situations où l'attention est coûteuse pour l'individu mais bénéfique pour le groupe) et de mettre en lumière une divergence entre les préférences sociales – mesurées traditionnellement par des choix d'allocations monétaires – et les comportements observés dans notre dilemme social attentionnel. Le dernier chapitre prouve qu'il est possible d'implémenter empiriquement et de tester la validité d'un modèle de préférences révélées avec attention aléatoire. Nous proposons une nouvelle caractérisation et un nouveau théorème des préférences révélées dans le cadre d'une version plus générale du model de Brady et Rehbeck (2016, Econometrica). Nous développons des procédures statistiques – que nous analysons à l’aide de simulations numériques – afin de tester les axiomes du modèle, de révéler les préférences, et d’obtenir une mesure de l'attention effective. Nous testons la validité du modèle à l'aide d'une tâche d'attention sélective dans laquelle les participants choisissent un gain monétaire parmi un ensemble de distracteurs. Les comportements observés dans cette expérience sont cohérents avec le model et les préférences induites expérimentalementThis thesis contributes to the integration of limited attention within the economic theory. We argue that attentional allocation processes can be understood as a production process with the allocated attention (the quantity of attentional resources invested in a decision) as an input and the effective attention (the amount of information contained in that decision) as an output. Borrowing methods from psychology and cognitive sciences, we propose three essays to shedding light on these processes. In the first chapter, we manipulate the presentation order between reward information and perceptual evidence in a two-alternative forced-choice task. The allocated attention is controlled, and we measure effective attention with a Signal Detection model. We found that the last information presented is more weighted in the decision. We attribute this effect to the division of attention. The second chapter proposes an experiment where participants pay costly attention to reduce the uncertainty of a discrimination task. We measure both allocated attention (through the response time) and effective attention (through performance). This experiment allows the study of attentional social dilemmas (situations where attention is costly for individuals but beneficial for the group). We highlight a discrepancy between monetary elicited social preferences and the behaviors exhibited in our attentional social dilemma. The last chapter proves that a model of revealed preferences under stochastic attention can be implemented and tested empirically. We provide new characterization and revealed preference theorems for a general version of Brady and Rehbeck’s model (2016, Econometrica). We propose and analyze – with numerical simulations – statistic procedures to test the axioms, to reveal preferences, and to measure effective attention. We test the internal validity of the model with a selective attention task, where participants choose an alternative among distractors and we find that most of the participants behave in accordance with the model and reveal coherent preferences
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Vinokur, Leon. "Environmental policy and bounded rationality." Thesis, Queen Mary, University of London, 2010. http://qmro.qmul.ac.uk/xmlui/handle/123456789/1708.
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The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a status quo). This paper aims to develop a Prospect Theory framework for investment under uncertainty subject to a dynamic reference point, within the context of environmental policy making, where the distinction between a dynamic and a static frameworks is crucial. I evince that, in contrast to the static framework, in a dynamic framework the investor measures not only the absolute but also the relative risk premium (Sharpe ratio) of the investment opportunity, incorporating the risks and returns of a reference portfolio. I propose that there exists a relation between static and dynamic frameworks. Using the dynamic framework, I argue that in the environmental context international co-operation is the key to a successful environmental policy
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Yi, Hyun Chang. "Essays in economic theory." Thesis, University of Exeter, 2014. http://hdl.handle.net/10871/15246.
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This dissertation consists of three research papers on cheap talk game and satisficing behaviour. The first chapter examines the potential for communication via cheap talk between an expert and a decision maker whose type (preferences) is uncertain. The expert privately observes states for each type of the decision maker and wants to persuade the decision maker to choose an action in his favour by informing her of the states. The decision maker privately observes her type and chooses an action. An optimal action for the decision maker depends upon both her type and type-specific states. In equilibrium the expert can always inform the decision maker in the form of comparative statements and the decision maker also can partially reveal her type to the expert or public. The second and third chapters build a dynamic model of satisficing behaviour in which an agent’s “expected” payoff is explicitly introduced, where this expectation is adaptively formed. If the agent receives a payoff above her satisficing level she continues with the current action, updating her valuation of the action. If she receives a payoff below her satisficing level and her valuation falls below her satisficing level she updates both her action and satisficing level. In the second chapter, we find that in the long run, all players satisfice. In individual decision problems, satisficing behaviour results in cautious, maximin choice and in normal form games like the Prisoner’s Dilemma and Stag Hunt, they in the long run play either cooperative or defective outcomes conditional on past plays. In coordination games like the Battle of the Sexes, Choosing Sides and Common Interest, they in the long run coordinate on Pareto optimal outcomes. In the third chapter, we find that satisficing players in the long run play subgame dominant paths, which is a refinement of subgame perfection, and identify conditions with which they ‘always cooperate’ or ‘fairly coordinate’ in repeated Prisoner’s Dilemma and Battle of the Sexes games, respectively, and truthfully communicate in sender-receiver games. Proofs and simulations are provided in appendices.
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Chevallier, Marius. "Les coopératives entre rationalité située et rationalité formelle." Phd thesis, Université des Sciences Sociales - Toulouse I, 2011. http://tel.archives-ouvertes.fr/tel-00960140.
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À l'instar des associations, les coopératives et les mutuelles sont des sociétés de personnes, c'est-à-dire que le pouvoir est le résultat d'un processus électif reposant sur l'ensemble des caractéristiques sociales et professionnelles des personnes et non sur leurs seuls apports financiers à l'entreprise. En outre, ces entreprises sont caractérisées par une faible rémunération des apporteurs de capitaux puisque une part importante des bénéfices est affectée à des réserves impartageables qui sont la propriété durable de l'entreprise en tant que institution. D'un point de vue d'économie de marché, les coopératives sont souvent critiquées comme constituant un système faiblement incitatif qui devrait conduire à leur disparition (partie 1). Pour comprendre la durabilité des coopératives, il faut adopter un cadre d'analyse différent. En effet, la force des coopératives réside moins dans leur flexibilité et leur rapidité d'adaptation aux marchés que dans leur capacité à produire de la stabilité dans un environnement volatile. La littérature empirique, l'analyse de données de l'Enquête Emploi 2007 et des enquêtes complémentaires auprès de coopératives permettent de caractériser cette stabilité dans les domaines de l'emploi et des innovations. On montre alors que cela se traduit une capacité à créer et exploiter des connaissances et compétences tacites et informelles adaptées à leurs contextes socio-territoriaux. Ces éléments tacites qui permettent une compréhension fine des enjeux et améliorent l'efficacité ne peuvent se développer et se transmettre que dans un temps long difficilement compatible avec la logique de réactivité et de flexibilité. Une analyse spécifique des dynamiques d'innovation montre ainsi que les coopératives prennent des décisions moins rapidement mais que le processus plus long et plus collectif de décision se traduit par une mise en œuvre plus efficace, de sorte que la coopérative ne perd pas en efficacité à terme.
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Partain, Roy Andrew. "Altruism, rationality, and alternative mathematical structures in economics." Thesis, Georgia Institute of Technology, 1992. http://hdl.handle.net/1853/28764.
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Jones, Matthew Thomas. "Essays on Bounded Rationality in Applied Game Theory." The Ohio State University, 2012. http://rave.ohiolink.edu/etdc/view?acc_num=osu1337782631.
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Kok, F. Josephine B. de. "Economic rationality and political viability, prerequisites in economic reform? : a case study of China, 1978-1995." Thesis, University of Oxford, 1996. http://ora.ox.ac.uk/objects/uuid:a38a09c3-00b4-4a70-80f1-71d65d471d31.
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To address the research questions - How has the Chinese government been able to produce a successful reform process and what logic has been behind it? - I develop a politico-economic framework that is largely based on a public choice model by Frey and Eichenberger (1992) and a politico-economic research methodology by Bates and Kreuger (1993). Its basic assumption is that all individuals, including bureaucrats and autocrats, maximise their own power and money subject to constraints. Secondly, it assumes that, when a new leadership rises to power, it will try to start an economic reform process in order to secure its power position. Per reform period, economic reform plans are analysed on their intended effect, implementation and actual results in pure economic terms as well as in political terms (leadership's power position). The framework hypothesises that during a reform process a government will perform a constant balancing act between the political viability with the economic rationality of each individual reform measure. This hypothesis is testedJand the Chinese reform period 1978-1995. The constraints Deng Xiaoping's leadership faces are the Communist Party's rule, a very strong bureaucracy, management of state enterprises and military, the command economy with an agricultural commune system and a revenue dependency on state owned enterprises. The hypothesis largely holds for China: agricultural reforms start with liberalisation to be later on largely retracted; real state owned enterprise reforms are never implemented; rural industrial reforms boom after tax revenues could be withheld at local level; the military's civilian industries is thriving. Unwanted results are quickly changed or retracted in the following period. Also identified is that despite these efforts, unintended interlinkage effects between the different reform measures become increasingly important and difficult to assess, resulting in a great loss of power for the leadership.
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Samouilhan, N. L. "Convergence, rationality and accuracy in South African consensus forecasts." Master's thesis, University of Cape Town, 2005. http://hdl.handle.net/11427/5699.
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Petri, Castro Mikel. "Essays on nominal rigidities, bounded rationality, and macroeconomic policy." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/129012.
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Thesis: Ph. D., Massachusetts Institute of Technology, Department of Economics, September, 2020Cataloged from student-submitted PDF of thesis.
Includes bibliographical references (pages 139-144).
This thesis consists of three chapters about macroeconomic policy. In the first chapter, I study the empirical relationship between nominal rigidities and the real effects of monetary policy. Nominal rigidities lie at the core of macroeconomics. The empirical evidence suggests that prices and wages adjust sluggishly to aggregate shocks, while theoretical models justify why and to what extent these rigidities imply monetary non-neutrality. However, direct evidence on nominal rigidities being the actual channel for the transmission of these shocks is relatively scarce. I construct a highly disaggregated measure of regional price stickiness for the U.S. and use it to provide evidence of this channel. My results are in line with sticky price models, indicating that employment in more rigid industries and commuting zones tend to have stronger reactions to monetary policy shocks.
In the second chapter, joint with Emmanuel Farhi and Iván Werning, we document the extreme sensitivity of New Keynesian models to fiscal policy announcements during a liquidity trap--a phenomenon we call the "fiscal multiplier puzzle". The response of current output to government spending grows exponentially in the horizon of the stimulus. Surprisingly, the introduction of rule-of-thumb hand-to-mouth agents, combined with deficit-financed stimulus, can easily generate negative multipliers that are equally explosive. This intuition translates to incomplete markets heterogeneous-agent New Keynesian models, leading to large negative multipliers when taxes are backloaded. We construct a belief-augmented New Keynesian framework to understand the role played by expectations in shaping the fiscal multiplier puzzle. The key element behind this result is the extreme coordination of the demand and supply blocks under rational expectations.
Common knowledge between these two blocks induces an inflation-spending feedback loop. Government spending boosts aggregate demand and drives up inflation, which in turn leads to lower real rates and higher spending by households, increasing aggregate demand again. We break this strategic complementarity by introducing bounded rationality in the form of level-k thinking. In contrast to rational expectations, level-k multipliers are bounded and tend to zero over infinite horizons for all finite k. Moreover, level-k interacts strongly with incomplete markets in two different ways. First, the attenuation of the multipliers increases for any level of k on the degree of market incompleteness, especially in the future. Second, in contrast to complete markets, incomplete markets increase the magnitude of the multipliers for low levels of k when taxes are backloaded, making deficits more effective at stimulating the economy.
In the third chapter, I explore the implications of downward nominal wage rigidities for fiscal policy and inflation in a liquidity trap. The standard Phillips Curve predicts big declines in economic activity should be accompanied by big deflation episodes. I study whether downward nominal wage rigidity can explain the missing deflation during the Great Recession. To do so, I introduce wage rigidity in a standard cash-in-advance liquidity trap model. My results show that nominal wage rigidities are consistent with mild deflationary episodes only when the trap is expected to be very short-lived. Away from this case, the model predicts large deflations and drops in output as in standard New Keynesian models. I also study the impact of fiscal policy in my setup, finding large multipliers that increase with the degree of wage rigidity. The main reason behind the effectiveness of government spending is its persistent effects on economic activity.
Wage rigidity generates unemployment persistence due to pent-up wage deflation. Fiscal spending boosts aggregate demand and decreases deflationary pressures today. This increases output today and in the future by relaxing the downward wage rigidity constraint in all subsequent periods. Keywords: nominal rigidities, price stickiness, monetary policy, regional, bounded rationality, incomplete markets, level-k, fiscal policy, downward nominal wage rigidity. JEL Classification: E52, E62, E7.
by Mikel Petri Castro.
Ph. D.
Ph.D. Massachusetts Institute of Technology, Department of Economics
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Darriet, Elisa. "Science économique et sens commun : études des représentations sociales de la crise économique et de l'euro." Thesis, Paris 2, 2017. http://www.theses.fr/2017PA020034.
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Dans cette thèse, nous nous concentrons sur la relation entre l'économie et sa représentation sociale, entre la science et son sens commun. Dans un premier chapitre, théorique, nous démontrons que les représentations sociales des individus profanes jouent un rôle dans la modélisation économique et dans la mise en oeuvre des politiques économiques. Dans un second chapitre, empirique, nous décrivons d'abord la représentation sociale de la crise économique de 2008 en France et montrons que les différences de représentation peuvent être dues à la perception des menaces financières personnelles. Ces dernières conduisent à différents types d'actions pour faire face (ou non) à la crise économique. Dans un troisième chapitre, empirique, nous étudions la possibilité d'un ajustement cognitif entre les représentations profanes des théories économiques qui expliquent les crises économiques et ces théories économiques. Nous étudions également l'influence des différences sociodémographiques et psychologiques (telles que les opinions politiques et la croyance en un monde juste) sur ces théories économiques. Enfin, dans un dernier chapitre empirique, nous examinons les représentations sociales de l'euro et abordons la notion d'illusion monétaire ainsi que la perception des politiques monétaires européennes en FranceIn this thesis we focus on the relationship between economics and social representations, between science and common sense. First in a theoretical chapter, we discuss how social representations of lay individuals can potentially play a role in economic modeling and in the implementation of economic policies. Secondly, in an empirical chapter, we firstly describe the social representation of the 2008 economic crisis in France and link it to the perception of personal financial threats. We then proceed to demonstrate that this difference can lead to different types of actions in order to cope (or not) with the economic crisis. The third chapter investigates empirically the possibility of a cognitive fit between lay representations of economic theories that explain economic crises and economic theories themselves. The influence of sociodemographic and psychological differences (such as political opinions, and Belief in a Just World) over these economic theories is also studied. The final chapter examines the social representations of the euro and approaches the notion of monetary illusion as well as the perception of European monetary policies among the French population
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Daale, Peter. "Colonial, economic rationalist, or collegial? Indonesian business leaders' perceptions (2001) of G7 behaviour." Thesis, Curtin University, 2003. http://hdl.handle.net/20.500.11937/1708.
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This research project aims to determine Indonesian business leaders perceptions of G7 behaviour towards Indonesia after Independence (1945/1949), at a time when the country is experiencing a severe financial and economic crisis (1997-2001). Is G7 behaviour considered colonial, economic rationalist, or collegial? Additionally, Indonesian business leaders' perceptions of economic and social development in Indonesia are measured, exploring a possible connection with perception of G7 behaviour. Within the context of this project, the researcher assumes that attitudes in Indonesia are significantly shaped by the impact of' an increasingly competitive and sophisticated global free-trade environment today versus one of exploitation and domination under past European colonial rule. The research questions on which the project is based emerged after detailed consideration of a large and varied number of publications concerning related historical and contemporary socio-economic, political issues and examination of recent inter-country comparative performance indicators (1996 to 2000). The background for the research project is framed within the context of Modern World-Systems theory which rose to prominence in the early 1970s, earlier theories about Intentional Underdevelopment, Dependency and Geography, and the more recent hypothesis on Enlightenment and Institutions theory, all attempting to explain why some countries are so poor and others are not. An exploratory study (Study 1) precedes the positivist research paradigm of the principal study (Study 2 - Stages 1 & 2), which is comprised of a pilot and a final stage.The theoretical model put forward and corresponding final stage VIII cross-sectional survey data of the second study are subjected to structural equation modeling (SEM) analysis, to test hypotheses and theory about the associations between theoretical constructs of the model. SEM is a relatively new multivariate technique, which combines aspects of multiple regression and factor analysis. The results of the research show that the impact of colonial rule; the associated exploitation and consequent poverty are still remembered by Indonesian business leaders and as such may have the potential to negatively impact on bi-lateral and multi-lateral negotiations for much needed structural reform in Indonesia, particularly if key influential participants (such as the G7 and the international institutions they control) ignore historical legacies and associated cross-cultural sensitivities. Final stage results provided strong support for two out of the five key hypotheses offered. The findings clearly suggesting that intensifying G7 behaviour as defined in this thesis would invariably further heighten existing perceptions of colonial behaviour. Less encouraging test results were obtained for the remaining hypotheses and overall only qualified support could be given to the proposed theory.The extent of which can be summarized as: "G7 behaviour is perceived as colonial, by Indonesian business leaders, and is significantly influenced by their perception of social development in Indonesia ". The research project was conceived in the absence of scholarly investigations into the historical impact of colonialism in Indonesia on present day attitudes and cultural values with respect to ready acceptance of predominantly Western concepts of globalisation, free trade, open markets and the need for crucial reform. Reforms, which often are imposed on developing nations during times of crisis by way of IMF - Structural Adjustment Programmes (SAP), harshly impacting on local populations.
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Daale, Peter. "Colonial, economic rationalist, or collegial? : Indonesian business leaders' perceptions (2001) of G7 behaviour /." Curtin University of Technology, Graduate School of Business, 2003. http://espace.library.curtin.edu.au:80/R/?func=dbin-jump-full&object_id=14774.
Full textAbstract:
This research project aims to determine Indonesian business leaders perceptions of G7 behaviour towards Indonesia after Independence (1945/1949), at a time when the country is experiencing a severe financial and economic crisis (1997-2001). Is G7 behaviour considered colonial, economic rationalist, or collegial? Additionally, Indonesian business leaders' perceptions of economic and social development in Indonesia are measured, exploring a possible connection with perception of G7 behaviour. Within the context of this project, the researcher assumes that attitudes in Indonesia are significantly shaped by the impact of' an increasingly competitive and sophisticated global free-trade environment today versus one of exploitation and domination under past European colonial rule. The research questions on which the project is based emerged after detailed consideration of a large and varied number of publications concerning related historical and contemporary socio-economic, political issues and examination of recent inter-country comparative performance indicators (1996 to 2000). The background for the research project is framed within the context of Modern World-Systems theory which rose to prominence in the early 1970s, earlier theories about Intentional Underdevelopment, Dependency and Geography, and the more recent hypothesis on Enlightenment and Institutions theory, all attempting to explain why some countries are so poor and others are not. An exploratory study (Study 1) precedes the positivist research paradigm of the principal study (Study 2 - Stages 1 & 2), which is comprised of a pilot and a final stage.The theoretical model put forward and corresponding final stage VIII cross-sectional survey data of the second study are subjected to structural equation modeling (SEM) analysis, to test hypotheses and theory about the associations between theoretical constructs of the model. SEM is a relatively new multivariate technique, which combines aspects of multiple regression and factor analysis. The results of the research show that the impact of colonial rule; the associated exploitation and consequent poverty are still remembered by Indonesian business leaders and as such may have the potential to negatively impact on bi-lateral and multi-lateral negotiations for much needed structural reform in Indonesia, particularly if key influential participants (such as the G7 and the international institutions they control) ignore historical legacies and associated cross-cultural sensitivities. Final stage results provided strong support for two out of the five key hypotheses offered. The findings clearly suggesting that intensifying G7 behaviour as defined in this thesis would invariably further heighten existing perceptions of colonial behaviour. Less encouraging test results were obtained for the remaining hypotheses and overall only qualified support could be given to the proposed theory.
The extent of which can be summarized as: "G7 behaviour is perceived as colonial, by Indonesian business leaders, and is significantly influenced by their perception of social development in Indonesia ". The research project was conceived in the absence of scholarly investigations into the historical impact of colonialism in Indonesia on present day attitudes and cultural values with respect to ready acceptance of predominantly Western concepts of globalisation, free trade, open markets and the need for crucial reform. Reforms, which often are imposed on developing nations during times of crisis by way of IMF - Structural Adjustment Programmes (SAP), harshly impacting on local populations.
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Zhang, Luyao. "Bounded Rationality and Mechanism Design." The Ohio State University, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=osu1532692312980569.
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Abley, Jennifer. "Stated preference techniques and consumer choice behaviour." Thesis, Cranfield University, 2002. http://hdl.handle.net/1826/4063.
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This PhD thesis examines the way in which individuals make choices during stated
preference experiments (commonly referred subsets of which are called stated choice
methods, conjoint analysis and trade-off analysis). Stated preference experiments ask
respondents to rank, rate or choose between different product/service options, which
are made up of a number of attribute mixes. The responses made by individuals
within these experiments allow researchers to estimate consumer preferences.
This thesis traces the historical background of stated preference experiments, from the
field of utility theory and experimental economics. An understanding of this
historical background explains the reliance by practitioners on the assumption that
respondents make rational choices during the stated preference experiment (where all
the information presented to them within the experiment is traded off in order to come
to an overall preference). In light of considerable research evidence within the field
of psychology that consumers do not do not conform to this economic concept of
rational choice, and recent criticisms within recent stated preference literature, this
thesis identifies the choice strategies employed by respondents during three stated
preference experiments, where attributes were represented in different ways.
Choice based stated preference experiments designed as the context for this research,
measure consumers preferences for a newly developed fuel-efficient vehicle, with
attributes currently unavailable in the marketplace. The experiments were presented
to respondents as a series of choices between the newly developed vehicle and
another currently available in the marketplace, described in terms of a number of
attributes. The experiments were implemented using `think-aloud' protocol to allow
the identification of respondent's choice strategies.
The research successfully identifies the choice strategies employed by respondents
during the stated preference experiments, and in support of recent criticisms within
stated preference literature, finds significant deviations from the economic concept of
rational choice. Furthermore, significant differences between the choice strategies
employed by respondents are identified between the experiments where the
appearance of the vehicles is represented in different ways. Using response data that
is simulated to mirror the respondent choice strategies identified in each of the three
stated preference experiments, the research tests the implications of these choice
strategies on the estimation of consumer utility models. The research identifies
significant differences between the parameter estimates derived from responses
simulated assuming different choice strategy profiles. The research also identifies
significant improvements in the estimated parameter values when the identified
choice strategies are used in the analysis of the response data, rather than using the
assumption of rational choice as an approximation. This suggests that stated
prelcrence practitioners might improve model estimation by identifying the choice
strategies used by respondents to inform the analysis of stated preference response
data.
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Benincasa, Stefano. "Evolutionary Behavioral Economics: Essays on Adaptive Rationality in Complex Environments." Doctoral thesis, Università degli studi di Trento, 2020. http://hdl.handle.net/11572/268752.
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Against the theoretical background of evolutionary behavioral economics, this project analyzes bounded rationality and adaptive behaviour in organizational settings characterized by complexity and persistent uncertainty. In particular, drawing upon the standard NK model, two laboratory experiments investigate individual and collective decision-making in combinatorial problems of resource allocation featuring multiple dimensions and various levels of complexity. In the first study, investment horizons of different length are employed to induce a near or distant future temporal orientation, in order to assess the effects of complexity and time horizon on performance and search behaviour, examine the presence of a temporal midpoint heuristic, and inspect the moderating effects of deadline proximity on the performance-risk relationship. This is relevant for organizational science because the passage of time is essential to articulate many strategic practices, such as assessing progress, scheduling and coordinating task-related activities, discerning the processual dynamics of how these activities emerge, develop, and terminate, or interpreting retrospected, current, and anticipated events. A greater or lesser amount of time reflects then a greater or lesser provision of resources, thereby representing a constraint that can greatly affect the ability to maintain a competitive advantage or ensure organizational survival. In the second study, the accuracy of the imitative process is varied to induce a flawless or flawed information diffusion system and, congruently, an efficient or inefficient communication network, in order to assess the effects of complexity and parallel problem-solving on autonomous search behaviour, clarify the core drivers of imitative behaviour, control for the degree of strategic diversity under different communication networks, and evaluate individual as well as collective performance conditional to the interaction between the levels of complexity and the modalities of parallel problem-solving. This is relevant for organizational science because imitating the practices of high-performing actors is one of the key strategies employed by organizations to solve complex problems and improve their performance, thereby representing a major part of the competitive process. The project is intended to contribute grounding individual and collective behaviour in a more psychologically and socially informed decision-making, with a view to further the research agenda of behavioral strategy and sustain the paradigm shift towards an evolutionary-complexity approach to real economic structures.
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Maldent, Anne-Sophie. "Analyse économique de la marque et du délit d'achat de contrefaçon." Thesis, Aix-Marseille, 2014. http://www.theses.fr/2014AIXM2024.
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Dans la mesure où la marque facilite le choix des consommateurs dans le spectre des variétés et qualités des produits, elle s'avère indispensable pour l'allocation efficace des ressources dans le processus productif, devenant ainsi un actif important des entreprises, au point qu'il existe désormais un « marché » sur lequel se rencontrent une offre et une demande de marques. En ce sens, le travail de recherche s'articule sur l'analyse économique de l'offre par les entreprises et les contrefacteurs et la demande de marques par les consommateurs. D'abord, il s'agit de démontrer que l'offre de marque est assimilable à un moyen de différenciation de l'entreprise sur un marché concurrentiel. La marque apparaît comme un vecteur important de l'activité entrepreneuriale, source de croissance. Ensuite, une autre partie de la recherche est consacrée à l'analyse de la marque du côté de la demande, et notamment à un aspect particulier de la demande de marque qui réside dans la demande de contrefaçon de marques. Nous proposons un modèle théorique d'achat de contrefaçons de marque avec un mécanisme de théorie des jeux sur la formation d'une norme sociale. Enfin, la présente étude tente de démontrer que les comportements de consommation de contrefaçon restent largement influencés par le cadre légal qui régit la contrefaçon de marque, et que l'efficacité des politiques de lutte contre ce phénomène est affectée par un élargissement du marché de la contrefaçon, lequel résulte de l'expansion croissante des nouvelles technologies et du développement de la consommation en réseauTo the extent that brandname facilitates consumer choice in the spectrum of varieties and qualities of products, it is a determining factor of the efficient allocation of resources in the production process, thus becoming an important corporate asset, up to the point that there is now a "market" of brands where meet supply and demand for brands. Thus, this research is based on an economic analysis of the supply of brands by firms and counterfeiters and the demand for brands by consumers. First, it is to show that supplying a brand is comparable to a means of differentiating the firm in a competitive market, and the mark appears as an important driver of entrepreneurial activity and a source growth. Then, another part of the research is devoted to the analysis of the mark on the demand side of the market, including a particular aspect of the demand for trademark which is the demand for trademark infringement. We build a theoretical model of purchasing counterfeited brands with a mechanism of game theory on the formation of a social norm. Finally, we attempt to show that counterfeit consumption behavior remains largely influenced by the legal framework governing trademark infringement, and that the effectiveness of policies to fight against this phenomenon is affected by an expansion of the market counterfeiting, which results from the increasing expansion of new technologies and the growth of consumption in the network
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Denis, Andrew Martin Paul. "Collective and individual rationality : some episodes in the history of economic thought." Thesis, City, University of London, 2001. http://openaccess.city.ac.uk/18421/.
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This thesis argues for the fundamental importance of the opposition between holistic and reductionistic world-views in economics. Both reductionism and holism may nevertheless underpin laissez-faire policy prescriptions. Scrutiny of the nature of the articulation between micro and macro levels in the writings of economists suggests that invisible hand theories play a key role in reconciling reductionist policy prescriptions with a holistic world. An examination of the prisoners' dilemma in game theory and Arrow's impossibility theorem in social choice theory sets the scene. The prisoners' dilemma epitomises the collective irrationality coordination problems lead to. The source of the dilemma is identified as the combination of interdependence in content and independence in form of the decision making process. Arrovian impossibility has been perceived as challenging traditional views of the relationship between micro and macro levels in economics. Conservative arguments against the possibility in principle of a social welfare function are criticised here as depending on an illicit dualism. The thesis then reviews the standpoints of Smith, Hayek and Keynes. For Smith, the social desirability of individual self-seeking activity is ensured by the 'invisible hand' of a god who has moulded us so to behave, that the quantity of happiness in the world is always maximised. Hayek seeks to re-establish the invisible hand in a secular age, replacing the agency of a deity with an evolutionary mechanism. Hayek's evolutionary theory, criticised here as being based on the exploded notion of group selection, cannot underpin the desirability of spontaneous outcomes. I conclude by arguing that Keynes shares the holistic approach of Smith and Hayek, but without their reliance on invisible hand mechanisms. If spontaneous processes cannot be relied upon to generate desirable social outcomes then we have to take responsibility for achieving this ourselves by establishing the appropriate institutional framework to eliminate macroeconomic prisoners' dilemmas.
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Londoño, María del Pilar. "Institutional arrangements that affect free trade agreements : economic rationality versus interest groups /." Rotterdam : Rotterdam : Erasmus Research Institute of Management (ERIM), Erasmus University Rotterdam ; Erasmus University Rotterdam [Host], 2006. http://hdl.handle.net/1765/7578.
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Ogrodnik, Marysia. "An economic analysis of addictive behaviors and drug policy in France." Thesis, Paris 1, 2016. http://www.theses.fr/2016PA01E031.
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L'objectif de cette thèse composée de six articles théoriques et empiriques, est d'identifier les moyens les plus efficaces d'encourager les usagers de drogues – légales et illégales – à adopter des habitudes plus saines en réduisant leur consommation. La première étape consiste à évaluer l’ampleur du problème en mesurant le coût social des drogues (tabac, alcool et drogues illicites) en France en 2010. Malgré les campagnes de prévention massives, la proportion inquiétante des consommateurs de substances nocives, mais surtout, la part élevée de personnes déclarant regretter d'avoir commencé leur consommation, conduisent à reconsidérer le paradigme traditionnel de l’addiction rationnelle, à la base de la plupart des travaux de recherche sur les addictions en économie. Au contraire, admettre une polyphasie cognitive chez les individus avec d’une part, un planner prenant ses décisions aussi rationnellement que ses capacités cognitives ne le lui permettent, et un doer ne cherchant qu’à atteindre une satisfaction immédiate, permet de construire un cadre théorique original tenant compte des émotions de court terme et de long terme des agents, ainsi que le rôle des normes sociales sur leurs décisions de consommation addictives. Le modèle construit à partir de ce cadre, ainsi que son analyse sur un panel de fumeurs français, permet de proposer des politiques novatrices visant à renforcer la motivation des individus à arrêter leur consommation addictive en réduisant leurs problèmes d’autocontrôle, en agissant sur leur perception des dangers liés à l’usage de drogues, et en ciblant un changement normatif de leur consommation. La plupart de ces recommandations ne sont pas applicables aux drogues illégales en raison de leur statut juridique. De ce fait, le seul levier permettant de définir une stratégie visant à réduire les coûts induits, est l’étude des alternatives juridiques à la pénalisation de la consommation, en particulier en ce qui concerne le cannabis, qui est la drogue illicite la plus largement utilisée en France, mais également dans la plupart des pays développésThe objective of this thesis, composed of six academic papers, is to identify how to encourage people to adopt healthier habits by reducing their ⎯ legal and illegal ⎯ drug consumption. The first step is to evaluate the importance of the problem by measuring the social costs of drugs (tobacco, alcohol, and illegal drugs) in France in 2010. Despite massive prevention campaigns, the worrying proportion of harmful substance users and the high proportion of individuals who declare they regret having started consumption leads to reconsideration of the traditional paradigm of rational addiction and its extensions at the basis of most research works on addiction in economics. In contrast, admitting that individuals exhibit a dual process of reasoning, with a planner acting as rationally as the individual’s cognitive capabilities permit on the one hand and a doer who only seeks short-term rewards on the other, allows the construction of an original theoretical framework that takes into account consumers’ short-term and long-term emotions, and the role of social norms in addictive consumption. The model built from this framework and its testing through an analysis of smokers permit the proposal of innovative policies aiming to enhance individuals’ motivation to quit addictive consumption by (i) reducing their self-control problems, (ii) acting on their perception of the danger of the drug, and (iii) by targeting a normative change. Most of these recommendations are not applicable to illegal drugs due to their legal status. Thus, the strategy to reduce harm in this instance is to study the legal alternatives to the criminalization of use, especially for cannabis, which is the most widely used illegal drug in France, as it also is in most developed countries
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Manrique, Chaparro Olga Lucía. "Three essays on bounded rationality and strategic behavior." Doctoral thesis, Universitat Autònoma de Barcelona, 2012. http://hdl.handle.net/10803/96260.
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La tesis está conformada por tres papers, el primero titulado Some Strategic Aspects of Private Information: An Experimental Analysis, el segundo titulado Comportamiento Estratégico y Manipulabilidad en los Métodos de Preferencias Declaradas para la Valoración de Bienes sin Mercado. Tres Experimentos de Laboratorio, y el tercero titulado Mistakes and Reciprocity Promote Cooperation in Public Good Games: An agent-based Approach.
El objetivo principal de la tesis es testar mediante herramientas experimentales y simulaciones las hipótesis de perfecta racionalidad y comportamiento estratégico en tres diferentes contextos.
En el primero nos preocupamos por estudiar aspectos informacionales de juegos repetidos con información incompleta. El marco teórico es relativamente simple, un juego 2x2, con información incompleta que se repite infinitamente. Nos preguntamos si los jugadores que tienen información privada en la práctica toman ventaja de ello (comportamiento estratégico) y si los jugadores desinformados pueden adivinar el juego que están jugando cuando se les ha revelado información importante, tal como la teoría predice.
En el segundo contexto, nos interesa testar el supuesto de manipulabilidad (strategy proffness) en los métodos de preferencias declaradas para la valoración de bienes sin mercado. Diseñamos tres experimentos de laboratorio para diferentes formatos de valoración de preferencias declaradas: un referéndum puro, un formato de valoración contingente y un conjunto de elección con tres alternativas.
El tercero es un contexto en el que proponemos un modelo de evolución de la cooperación en bienes públicos, en ambientes en que agentes con diferentes grados de cooperación condicional actúan estratégicamente para decidir si cooperar o no. A diferencia de otros estudios donde el interés es comprender cómo emerge el altruismo o la reciprocidad, nosotros nos preocupamos por estudiar por qué la cooperación puede sobrevivir en esa clase de ambientes.The thesis consists of three papers, the first entitled Some Strategic Aspects of Private Information: An Experimental Analysis, the second entitled Comportamiento Estratégico y Manipulabilidad en los Métodos de Preferencias Declaradas para la Valoración de Bienes sin Mercado. Tres Experimentos de Laboratorio, and the third entitled Mistakes and Reciprocity Promote Cooperation in Public Good Games: An agent-based Approach. The main objective of the thesis is to test, using experimental and simulation tools, the assumptions of perfect rationality and strategic behavior in three different contexts. In the first study we are concerned with informational aspects of repeated games with incomplete information. The theoretical framework is relatively simple, a 2x2 game with incomplete information that is infinitely repeated. We asked if players with private information, in practice, take advantage of it (strategic behavior), and if the uninformed players can guess the game they are playing when had been revealed important information, such as the theory predicts. In the second context, we want to test the assumption of manipulability (strategy proffness) in stated preference methods for valuing non-market goods. We designed three laboratory experiments for different formats of stated preferences: a pure referendum, a contingent valuation method and choice set with three alternatives. The third is a context in which we propose an evolution of cooperation model in public goods, in environments in which agents have different degrees of cooperation conditional and act strategically to deciding whether to cooperate or not. Unlike other studies where the interest is to understand how emerging altruism or reciprocity, we am interested in study why cooperation can survive in such environments.
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Glaze, Simon. "Beyond rationalist orthodoxy : towards a complex concept of the self in IPE." Thesis, University of Birmingham, 2009. http://etheses.bham.ac.uk//id/eprint/424/.
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In this thesis I investigate the intellectual foundations of International Political Economy (IPE) in order to develop a more complex account of agency than that currently provided to the subject field by neoclassical economics. In particular, I focus on the thought of Adam Smith, whose ideas are gaining interest in IPE owing to an increasing recognition of his seminal contribution to the subject field. I investigate the secondary debate on Smith, his influences, his distance from his peers in the Scottish Enlightenment and his ongoing influence across the social sciences. I also analyse the thought of William James, and argue that his similarly influential concept of agency offers a complex view of the self that is complimentary to Smith’s account. I suggest that the framework of the self that these thinkers provide can present critical IPE theorists with an alternative concept of agency than the reductive account currently employed in the subject field. I argue that these theorists are unable to countenance such an alternative owing to their implicit acceptance of the analytical separation of economics and politics that became institutionalised after the Methodenstreit. I suggest that this is obscured by their commitment to normative interventionism, which I argue threatens to reiterate the universalist claims that they seek to challenge.
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Van, Bavel Rene. "Representations of the economy:an investigation into economic knowledge and rationality in Chilean society." Thesis, London School of Economics and Political Science (University of London), 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.490338.
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Zeman, Jakub. "Pojetí člověka v ekonomii." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-81593.
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The thesis discusses the concept of man in the standard economic thinking. It focuses on a critical evaluation of the selected fundamentals. It presents some possible alternative views which show deficiencies in axiomatics of the main currents of economic modeling. Emphasizing the interdisciplinary connections of knowledge about human thought and behavior the thesis is trying to suggest some directions for further development in the approach to human beings in economics to better reflect their defining natural characteristics. It also mentions some of the manifestations of these characteristics, which can be obtained by drawing on the knowledge of psychology, behavioral economics, neuroeconomics and other disciplines and which are inconsistent with standard models, because they lead to errors and irrationality, implicitly produce bounded rationality or attribute the constitutive importance during the formation of thought to completely different elements. In conclusion, the thesis passes to reflect the position of irrationality in the inner world of human's brain and also in the outside world - the economy.