theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …

Public choice theory has originally been motivated by the need to correct the asymmetry, widespread in traditional …

thus to display inertial behavior): A cognitive bias referred to as cognitive inertia and a bound on rationality which we …

This paper presents a laboratory experiment that directly tests the theoretical predictions of consumption choices … of the theory: 1) Subjects optimally make stochastic consumption choices; 2) They respond to incentives and changes in …