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We simply want (and demand) the 100% consumer fulfilment of obtaining products based on rationality.
But in the latest opinion, Judge Calabresi wrote that this argument gives rise to "serious constitutional doubt, based on rationality".
Increasingly, he suggests, under colonialism Indians came to view the Western concept of reality -- based on rationality and exemplified in a linear impulse to organize, categorize, collect and record -- as morally problematic and intellectually delusional.
"We had done lots of models based on rationality, but now we are recognizing that emotions play a much more dominant role than we ever admitted," Mr. Yalman said.
He expects that within a few years neuroeconomics will have uncovered enough about the interactions between what goes on in people's brains and the outside world to start to shape the public-policy agenda though it is too early to say how.The success of neuroeconomics need not mean that behavioural economics will inevitably triumph over an economics based on rationality.
At the same time, efforts to implement those political systems in Latin America brought to the region's new countries Enlightenment conceptions of politics based on rationality and a vision of politics as an interaction of individuals who enjoyed specific, definable rights and duties.
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Still, according to Fernando Fernandez, a former chief economist at Banco Santander and former official at the International Monetary Fund in Washington, "an attack by markets on Spain would be based on some rationality".
The battery is based on 20 rationality postulates of the types developed in studies of theory change and nonmonotonic reasoning.
We model the delegation stage explicitly and show that subgame perfect, credible contracts (chosen by governments based on individual rationality) are non-zero, but are different from optimal contracts and hence lead to inefficient equilibria.
During the game, all game partiers abide by some constraint protocol based on collective rationality; by negotiating, game partiers make some "concession" mutually, and reach trade-off equilibrium solution.
An industry is defined as a group of firms producing products that are close substitutes for one another (Porter, 1980) and regional industries consist of actors seeking to advance their interests based on bounded rationality (Simon, 1982) and in interaction with others (Scharpf, 1997).
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