SecondClassLimitedSummary

SecondClassLimitedSummary - RATIONAL (D) [TEXT] CHOICES...

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[Selective transparencies from the second class – 1/15/09. Designed to remind you of some core aspects of the class, and not to provide a complete summary of every detail of the class.] POSSIBLE APPROACH DISTINGUISH BETWEEN: [A] (IDEAL) FORMAL MODELS [B] NARROW APPLICATIONS [C] WORLDVIEW APPLICATIONS (2) ALTERNATIVE NOTIONS OF RATIONALITY (A) RATIONAL CHOICES ARE “SELFISH” (B) RATIONAL CHOICES GUARANTEE BEST DECISION (C) ALL CHOICES ARE NECESSARILY
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Unformatted text preview: RATIONAL (D) [TEXT] CHOICES INVOLVE USING ALL AVAILABLE INFORMATION TO ACHIEVE GOALS (D) RATIONALITY AS USING ALL AVAILABLE INFORMATION TO ATTAIN GOALS NOT SELF-CONTRADICTORY, BUT SCIENTIFICALLY IMPLAUSIBLE DATA INFORMATION KNOWLEDGE “WISDOM” DATA INFORMATION REQUIRES AWARENESS, CATEGORIZATION INFORMATION KNOWLEDGE REQUIRES THEORETICAL STRUCTURE KNOWLEDGE “WISDOM” REQUIRES ASSURANCE OF RELEVANCY...
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This note was uploaded on 01/21/2011 for the course ECON 252 taught by Professor Robertholand during the Spring '08 term at Purdue.

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