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Rationality says that if we're confronted with evidence that contradicts our beliefs, we change our views accordingly.
"IN THIS anxious market environment, people lose their rationality," says Frédéric Oudéa, the chief executive of Société Générale, a French bank.
The flip-side of the new rationality, says Warnfried Dettling, a political analyst, is that the government may not be able to present a persuasive vision of where reform should lead over the next 20 years.
"Consumers are typically most receptive to brand stories when they are making decisions and purchases based on emotion, rather than rationality," says Christopher Newman, assistant professor of marketing at The University of Mississippi.
"The werewolf has always been a metaphor for our struggle between instinct and rationality," says co-director Marco Dutra.
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"The use of digital technologies to turn these texts into databases amenable to quantitative data mining requires a careful interdisciplinary approach, but it could provide an entirely new perspective on medieval science and rationality," say Connelly and co.
"You have to bear in mind the opportunity costs of these kinds of government interventions, and remember that life is not an economic textbook and that politics can easily override economic rationality," said Mr. Noland, an author, with Howard Pack, of "Industrial Policy in an Era of Globalization: Lessons From Asia".
Negative bond yields today "do seem to defy rationality," said Lee Ohanian, an economics professor at UCLA who has written extensively on the Great Depression and government economic policies.
"I always feel saddened by intelligent people who say, this can't be true because it doesn't work in terms of rationality," he says.
A hypothetical imperative is a principle of rationality that says that I should act in a certain way if I choose to satisfy some desire.
In the normal course of things, we all have at least some preferences based on ignorance and false beliefs that proponents of soft paternalism nonetheless do not think can legitimately be interfered with unless there is some compelling reason to impute impairment of rationality beyond, say, weakness of will.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com