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Building Decision Making In The Economy Between Schools Of Thought And Alternative Approaches

Author

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  • Alessandro Morselli

    (Department of Law and Economics, University of Rome Unitelma Sapienza)

Abstract

This paper tries to prove that a decision theory in economics cannot ignore the crucial role played by the intuitive mind, through the knowledge and representation-review of beliefs. Considering the cognitivist paradigm, we veer away from the traditional approach, which does not give due importance to the construction of the context of the decision and the discovery-formation of alternative strategies. The journey of this paper places knowledge-representation and the relationship between individual rationality and the collective balance with beliefs understood as a vehicle for information. All this is backed by the availability of new logical and mathematical tools that can help us analyse the models of reasoning of the players in a more accurate way.

Suggested Citation

  • Alessandro Morselli, 2018. "Building Decision Making In The Economy Between Schools Of Thought And Alternative Approaches," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 126(2), pages 153-186.
    • Handle: RePEc:vep:journl:y:2018:v:126:i:2:p:153-186
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    Cited by:

    1. Alessandro Morselli, 2021. "Individual decisions and collective choices in the history of economic thought," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 77-96,97-11.

    More about this item

    Keywords

    Beliefs; Cognitive process; Decision; Economic institutions; Knowledge-based economy;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

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