Chapter

But Can't We Get the Same Thing with a Standard Model?

Spiegler Ran

in Bounded Rationality and Industrial Organization

Published in print February 2011 | ISBN: 9780195398717
Published online September 2011 | e-ISBN: 9780199896790 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195398717.003.0013
But Can't We Get the Same Thing with a Standard Model?

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This chapter discusses methodological problems that concern observational equivalence between market models with boundedly rational consumers and “rationalizations”—namely, alternative models based on conventional rationality.

Keywords: methodology; rationalizations; observational equivalence

Chapter.  6195 words. 

Subjects: Economics

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