Rational economic behavior

Hyper-Rational Choice and Economic Behaviour

In this paper, with help of the concept of hyper-rationality, we model the interaction between two investment companies by an important game as trickery game that has special equilibrium which called hyper-equilibrium. In trickery game, one company can choose cooperation with another company until the last moment and finally changes his action to non-cooperation which incur more loss to an oppo...

Are Economic Forecasts Rational?

Toward Rational Communicative Behavior

\Ve view communication as action aimed at increasing the efficiency of interaction among multiple agents. Thus, we postulate that a speaker design a speech act so as to maximally increase the benefit it obtains as the result of the interaction. This paper presents a theoretical framework which can be used by this kind of the design process. Our framework consists of a representation of an epist...

STUDYING THE BEHAVIOR OF SOLUTIONS OF A SECOND-ORDER RATIONAL DIFFERENCE EQUATION AND A RATIONAL SYSTEM

In this paper we investigate the behavior of solutions, stable and unstable of the solutions a second-order rational difference equation. Also we will discuss about the behavior of solutions a the rational system, we show these solutions may be stable or unstable.  

Rational ignorance and voting behavior

We model a two-alternative election in which voters may acquire information about which is the best alternative for all voters. Voters differ in their cost of acquiring information. We show that as the number of voters increases, the fraction of voters who acquire information declines to zero. However, if the support of the cost distribution is not bounded away from zero, there is an equilibriu...