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From Normative Rationality to Cognitive Consistency

Author

Listed:
  • Louis Lévy-Garboua

    (TEAM - Université Paris 1, CNRS)

  • Serge Blondel

    (TEAM - Université Paris 1, CNRS and Institut National d'Horticulture)

Abstract

Cognitive dissonance or cognitive consistency theory, as we understand it, does not presume irrational behavior although it is inconsistent with normative rationality. Previous discussions have overlooked that cognitive dissonance implied dynamic uncertainty. Once this dimension of choice is restored, it becomes obvious why normative rationality does not properly describe fully rational behavior. Aiming at cognitive consistency is then the optimal way to behave

Suggested Citation

  • Louis Lévy-Garboua & Serge Blondel, 2000. "From Normative Rationality to Cognitive Consistency," Cahiers de la Maison des Sciences Economiques bla00067, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:bla00067
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    References listed on IDEAS

    as
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    4. Smith, Vernon L, 1991. "Rational Choice: The Contrast between Economics and Psychology," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 877-897, August.
    5. Machina, Mark J, 1987. "Choice under Uncertainty: Problems Solved and Unsolved," Journal of Economic Perspectives, American Economic Association, vol. 1(1), pages 121-154, Summer.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Cognitive dissonance; Dynamic uncertainty; Rationality;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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