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Irrationality in Economics

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  • Louis Baudin

Abstract

I. Definition of rationality, 487. — II. Characteristics of irrationality, 490. — III. Examples of irrationality in economics, 493. — IV. Irrationality and mass psychology, 497. — V. The role of irrationality in political economy, 501.

Suggested Citation

  • Louis Baudin, 1954. "Irrationality in Economics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 68(4), pages 487-502.
    • Handle: RePEc:oup:qjecon:v:68:y:1954:i:4:p:487-502.
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    File URL: http://hdl.handle.net/10.2307/1881874
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    Cited by:

    1. Mitja Steinbacher & Matthias Raddant & Fariba Karimi & Eva Camacho Cuena & Simone Alfarano & Giulia Iori & Thomas Lux, 2021. "Advances in the agent-based modeling of economic and social behavior," SN Business & Economics, Springer, vol. 1(7), pages 1-24, July.
    2. Jean-Sébastien Lenfant, 2018. "Probabilising the consumer: Georgescu-Roegen, Marschak and Quandt on the modelling of the consumer in the 1950s," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(1), pages 36-72, January.
    3. Habis, Helga & Perge, Laura, 2018. "Pató Pál úr modellezése. Irracionalitás az intertemporális döntéshozatalban [Pál Pató-style modelling. Irrationality in inter-temporal decision-making]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 619-631.
    4. List, John & Millimet, Daniel, "undated". "Bounding the Impact of Market Experience on Rationality: Evidence from a Field Experiment with Imperfect Compliance," Departmental Working Papers 0505, Southern Methodist University, Department of Economics.

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