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How Various “Irrationalities” Proven to be Rational

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  • Li, Bin

Abstract

Various“irrationalities” have always been deemed distinct from human reason or “rational thinking”. However, another long-standing view is that“irrationalities” are really some kinds of rationality that just need to be somehow proven. It would be most satisfactory if the proof could be done because a successful proof can re-justify the mainstream rational principle, then minimizing the price of reform of economics. This paper briefly introduces a ready-made solution.

Suggested Citation

  • Li, Bin, 2022. "How Various “Irrationalities” Proven to be Rational," MPRA Paper 111637, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:111637
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    File URL: https://mpra.ub.uni-muenchen.de/111637/8/MPRA_paper_111637.pdf
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    References listed on IDEAS

    as
    1. John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
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    More about this item

    Keywords

    irrationality; rationality; behavioral economics; psychology; animal spirits; bounded rationality;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General

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