Rational Theory of Intuition and Its Epistemological Consequences

Author(s):  
Andrzej P. Wierzbicki ◽  
Yoshiteru Nakamori
Keyword(s):  
2019 ◽  
Vol 109 (11) ◽  
pp. 3813-3848 ◽  
Author(s):  
Vladimir Asriyan ◽  
William Fuchs ◽  
Brett Green

We develop a rational theory of liquidity sentiments in which the market outcome in any given period depends on agents’ expectations about market conditions in future periods. Our theory is based on the interaction between adverse selection and resale considerations giving rise to an intertemporal coordination problem that yields multiple self-fulfilling equilibria. We construct “sentiment” equilibria in which sunspots generate fluctuations in prices, volume, and welfare, all of which are positively correlated. The intertemporal nature of the coordination problem disciplines the set of possible sentiment dynamics. In particular, sentiments must be sufficiently persistent and transitions must be stochastic. We consider an extension with production in which asset quality is endogenously determined and provide conditions under which sentiments are a necessary feature of any equilibrium. A testable implication is that assets produced in good times are of lower average quality than those produced in bad times. (JEL D84, D82, E32, E44, G12)


2012 ◽  
Vol 198-199 ◽  
pp. 746-750
Author(s):  
Qing Xue ◽  
Bo Wei Cao ◽  
Ai Lan Li ◽  
Ping Gang Yu ◽  
Yi Jun Yao

Rational theory of finite virtual soldiers on the concept of bounded rationality, bounded rationality theory analysis of the added features of the virtual soldiers, given the limited rationality based on the overall framework of the virtual soldiers, using the model framework to make the virtual real soldiers, soldiers with similar perception, decision making and exercise capacity, for the subsequent implementation of the modules laid the foundation framework.


2006 ◽  
Vol 31 (2) ◽  
pp. 1-20 ◽  
Author(s):  
Robert Schaefer
Keyword(s):  

2017 ◽  
Vol 250 ◽  
pp. 234-243 ◽  
Author(s):  
Zoltan Kozinszky ◽  
Annamária Töreki ◽  
Emőke A. Hompoth ◽  
Robert B. Dudas ◽  
Gábor Németh

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