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We examine the various senses in which economist use the term "rationality" and then outline some of the commonly drawn …
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Pension plan participants' characteristic lack of financial sophistication and widespread failure to monitor investments frequently prompts expressions of concern about the potentially large welfare losses such individuals could suffer. I explore this issue by studying the performance of an...
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-based wage, capital yield from savings, social welfare system, and total income subject to taxation and political turnovers. Meta-heuristics … minority in order to win the election by benefiting others. Such decision-making leads to a cyclic taxation policy with high …
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