Artikel

The Weak Rationality Principle in Economics

The weak rationality principle is not an empirical statement but a heuristic rule for how to proceed in social sciences. It is a necessary ingredient of any 'understanding' social science in the Weberian sense. In this paper, first this principle and its role in economic theorizing are discussed. It is also explained why it makes sense to use a micro-foundation and, therefore, to employ the rationality assumption in economic models. Then, we discuss whether the anomalies of individual behaviour as highlighted in modern behavioural economics impair the applicability of the weak rationality principle. This is not the case. We conclude with some remarks on handling the problems of 'free will' as well as 'weakness of the will' within the economic approach.

Sprache
Englisch

Erschienen in
Journal: Swiss Journal of Economics and Statistics ; ISSN: 2235-6282 ; Volume: 149 ; Year: 2013 ; Issue: 1 ; Pages: 1-26 ; Heidelberg: Springer

Klassifikation
Wirtschaft
Economic Methodology
Thema
Rationality
Self-Interest
Micro-Foundation
Bounded Rationality

Ereignis
Geistige Schöpfung
(wer)
Kirchgässner, Gebhard
Ereignis
Veröffentlichung
(wer)
Springer
(wo)
Heidelberg
(wann)
2013

DOI
doi:10.1007/BF03399379
Handle
Letzte Aktualisierung
20.09.2024, 08:25 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Kirchgässner, Gebhard
  • Springer

Entstanden

  • 2013

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