... Economics and Psychology Met … or Didn't.” I appreciated comments from participants at that conference and an anonymous referee for the History of Political Economy . Copyright 2016 by Duke University Press 2016 normative microeconomics cost-benefit analysis procedural rationality...

... the certainty equivalent argument emerge from a combination of two opposite approaches to uncertainty, that is, backward- and forward-looking procedures, but that the father of RET also defined Simon’s 1956 article as the “foundation of [his] paper on rational expectations,” and the quadratic cost...

... the Western analyses of disequilibria, proposed rationing mechanisms capable, under some conditions, of bringing a system to the state of equilibrium. However, in a fixed-price economy, equilibria are not necessarily optimal or effective; therefore specific observational and analytic procedures aiming...

... Bounded rationality 1957 626 Procedural rationality 1963 124 Finite rationality 1972 17 Constrained rationality 1978 7 We based our analysis on JSTOR, currently one of the most compre...

... the term implementation rationality. Her concept, which builds on Her- bert Simon’s notion of procedural rationality, is intended to show that, as with procedural rationality, implementation rationality shifts the econo- mist’s focus from a substantively optimal outcome to a problem-solving process...

... , H. A. 1959 . Theories of Decision-Making in Economics. American Economic Review 49 ( June ): 253 -83. Simon , H. A. 1976 . From Substantive to Procedural Rationality. In Method and Appraisal in Economics , edited by S. Latsis. Cambridge: Cambridge University Press. Stigler , G...

... to Procedural Rationality,” T. W. Hutchison’s “On the History and Philosophy of Science and Economics,” and J. R. Hicks’ ‘‘ ‘Revolutions’ in Economics”-were inspired by discussion at the Colloquium, and the remaining paper-M. Blaug’s “Kuhn versus Lakatos or Paradigms versus Research Programmes...

..., a central assumption of recent macro- economic theorizing. In a final stage overlapping the previous one, the concepts developed to test the rationality assumption fed back to the forecasting field, providing enhanced procedures for evaluating and im- proving actual forecasts. The purpose...

... but also because it shows the full force with which rationality is seen to be synonymous with untextured, contextless procedure. In the philosophy of science rationality is char- acteristically set up against “context” in a center-periphery arrange- ment, with rationality perceived...

... observe stated behavior. Therefore, on the assumption of a properly constructed survey sample, the weight of evi- dence hinged on the coherence and rationality of respondents in their answers, on the credibility of the questionnaire, and on the credibility of the interview and survey procedures that had...

... of households and the consumer economy have necessarily shaped BLS survey methods. Yet it also reflects conceptual shifts in which new approaches to survey research came to supplement or even supplant earlier practices. The first change was the gradual rationalization of survey procedures...

... and procedural rationality, and his notion of bounded rationality. First, he noted that “When this (Estes’s) experi- mental situation was described to a number of game theorists at the Santa Monica conference, they pointed out that a ‘rational’ individual would first estimate, by experimenting, which...

... continuously confuse absolute and relative price changes. Even though these assumptions are limiting and simplifying, Lucas has to design an intricate solution procedure. In particular the assumption of rational expectations complicates matters. The equilibrium solution is sto- chastic...

..., June 1940. [Lerner’s note.] Lerner / Design for a Streamlined War Economy 637 particular rationing. This waste can only partly be corrected by the clumsy and primitive (and frequently illegal) procedure of barter between ration receivers. To alleviate this waste a “point system...

... in the basic assumptions have to be eventually removed by appropriate empirical research. Weber sees the procedure of analytical accentuation also at work in microeconomic theory in which rationality is used as a typifier. The accentuated ideal type becomes-in Hempel’s terminology15-an 11...

... to structure various litera- tures around competing notions of “rationality” (Giocoli 2003), contem- porary historians seem to have found themselves at a loss when it came to performing the basic analytic procedure of attempting to delineate change from stasis in economic thought. That task will turn out...

...Rodney Maddock The Research School of Social Sciences, The Australian National University, Canberra ACT 2600, Australia. Copyright © 1984 by Duke University Press 1984 Muddock Rational expectations macrotheory 303 process, but there is no way...

... thesis is one of the key- stones rationalizing the pay-as-you-go procedure as such. Mackenroth’s ideas are developed in Section I1 below. As for income redistribution, the pay-as-you-go method implies that decisions refer to a single period. Decisions on the distribution of taxation...

... Rational Expectations Economics (Cambridge University Press, 1998) and several articles. Her research interests include providing an internal evaluation of developments in contemporary (macro) economics by using methods of analysis developed in science studies and problematizing the use of economic...

.... Vanberg, U. Witt, and my referees. I also benefited from the discussions with H. Moulin and R. Nau. I wish to thank the participants at the seminar “Rationality, Institutions and the Notion of Competition,” Venice, Nov. 1990, and the participants at the conference “The Emergence and Stability...