We prove a new result about the mutual behavior of irrationality measure functions $\psi_{\alpha_j}(t)$ for $n$ different real numbers $\alpha_j, j = 1, \dots, n$.

We investigate the extent to which the “bubbles” and “crashes” in the experimental asset markets are due to individual irrationality and lack of common knowledge of rationality. We do so by comparing between the forecasted prices initially submitted by subjects in two market environments: (a) All the six traders are human subjects (6H) and (b) One human subject is interacting with five rational...

Assumptions of individual rationality and preference stability provide the foundation for a convenient and tractable modeling approach. While both of these assumptions have come under scrutiny in distinct literatures, the two lines of research remain disjointed. This study begins by explicitly linking the two literatures while providing insights into perhaps the central issue facing behavioral ...

Neuroeconomic conditions for "rational addiction" (Becker & Murphy 1988) have been unknown. This paper derived the conditions for "rational addiction" by utilizing a nonlinear time-perception theory of "hyperbolic" discounting, which is mathematically equivalent to the q-exponential intertemporal choice model based on Tsallis' statistics. It is shown that (i) Arrow-Pratt measure for temporal co...

According to the Rationality Constraint, our concept of belief imposes limits on how much irrationality is compatible with having beliefs at all. We argue that empirical evidence human from psychology reasoning and psychopathology delusion undermines only most demanding versions which require perfect rationality as a condition for beliefs. The poses no threat more relaxed minimal rationality. N...

This work discusses the asymptotic behavior of a transmission problem on star-shaped networks of interconnected elastic and thermoelastic rods. Elastic rods are undamped, of conservative nature, while the thermoelastic ones are damped by thermal effects. We analyze the overall decay rate depending of the number of purely elastic components entering on the system and the irrationality properties...