The assumption of rationality is both one of the most important and most controversial assumptions of modern economics. This article discusses what current experimental economic as well as neuroscience research tells us about the relationship between rationality and the mechanisms of human decision-making. The article explores the meaning of rationality, with a discussion of the distinction bet...

in this article, after reviewing the difference between fundamentalist and anti-fundamentalist philosophy, the features of the rationality will be explained from the perspective of five anti-fundamentalist philosophers (habermas, richard rorty, macintyre, michel foucault and hayek). the common point stated by all these philosophers is that they all criticize metaphysics and doubt about the basi...

Recent research in group cognition points towards the existence of collective cognitive competencies that transcend individual group members' cognitive competencies. Since rationality is a key cognitive competence for group decision making, and group cognition emerges from the coordination of individual cognition during social interactions, this study tests the extent to which collaborative and...

The introduction of a small amount of bounded rationality into a model sometimes has little effect, and sometimes has a dramatic impact on predicted behavior. We call a model robust to bounded rationality if small deviations from rationality result only in small changes in the equilibrium set. We also say that a model is structurally stable if the equilibrium set (given fully rational agents) v...

A theory of rationality is a theory that evaluates instances of reasoning as rational, irrational, or (ir)rational to some degree. Theories can be categorized as rule-based or consequentialist. Rule-based theories say that rational reasoning accords with certain rules (e.g., of logic or probability). Consequentialist theories say that rational reasoning tends to produce good consequences. For i...

Rationality is a fundamental concept in economics. Most researchers will accept that human beings are not fully rational. Herbert Simon suggested that we are “bounded rational”. However, it is very difficult to quantify “bounded rationality”, and therefore it is difficult to pinpoint its impact to all those economic theories that depend on the assumption of full rationality. Ariel Rubinstein pr...

This chapter reviews selected findings in research on reasoning, judgment, and choice and considers the systematic ways in which people violate basic requirements of the corresponding normative analyses. Recent objections to the empirical findings are then considered; these objections question the findings' relevance to assumptions about rationality. These objections address the adequacy of the...

in this article the rationality of faith in plantinga's three major works is studied – the three works in which the author, while responding to the critiques, presents his viewpoints. in this contribution, plantinga's line of argumentation in these books is sought and then, having explained his views, they are being analyzed. hence, first his analogical argument is criticized and then...