3,189 research outputs found

    A reason-based theory of rational choice

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    There is a surprising disconnect between formal rational choice theory and philosophical work on reasons. The one is silent on the role of reasons in rational choices, the other rarely engages with the formal models of decision problems used by social scientists. To bridge this gap, we propose a new, reason-based theory of rational choice. At its core is an account of preference formation, according to which an agent's preferences are determined by his or her motivating reasons, together with a weighing relation between di¤erent combinations of reasons. By explaining how someone's preferences may vary with changes in his or her motivating reasons, our theory illuminates the relationship between deliberation about reasons and rational choices. Although primarily positive, the theory can also help us think about how those preferences and choices ought to respond to normative reasons.rational choice theory, reasons, motivation, expected utility theory, methodology, preference formation, dynamic inconsistency

    Conceptual Frameworks and Experimental Design in Simultaneous Equations

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    Using examples drawn from two important papers in the recent literature on weak instruments, we demonstrate how observed experimental outcomes can be pro- foundly inuenced by the dierent conceptual frameworks underlying two exper- imental designs commonly employed when simulating simultaneous equationsSimultaneous equations; Experimental design; Simulation experiment

    Pluralism In scientific problem solving : why inconsistency is no big deal

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    Pluralism has many meanings. An assessment of the need for logical pluralism with respect to scientific knowledge requires insights in its domain of application. So first a specific form of epistemic pluralism will be defended. Knowledge turns out a patchwork of knowledge chunks. These serve descriptive as well as evaluative functions, may have competitors within the knowledge system, interact with each other, and display a characteristic dynamics caused by new information as well as by mutual readjustment. Logics play a role in the organization of the chunks, in their applications and in the exchange of information between them. Epistemic pluralism causes a specific form of logical pluralism. Against this background, the occurrence of inconsistencies will be discussed together with required reactions and systematic ways to explicate them. Finally, the place of inconsistencies in the sciences will be considered. Seven theses will be proposed and argued for. The implications of each of these for pluralism will be considered. The general tenet is that paraconsistency plays an important role, bound to become more explicit in the future, but that the occurrence of inconsistencies does not basically affect the need for pluralism

    Transformations of the State Variable and Learning Dynamics

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    This article studies dynamics in a model where agents forecast a one dimensional state variable via ordinary least squares regressions on the lagged values of the state variable. We study the stability properties of alternative transformations of the state variable that the agent can endogenously set forth. We study the consequences on the economy's stability of the typical transformations that an econometrician would attempt, such as differencing, detrending, or taking instantaneous concave transformations, such as logarithms. Surprisingly, for the considered class of economies, we found that these transformations are destabilizing, whereas alternative transformations, which an econometrician would never consider, such as convex transformations, are stabilizing. Therefore, we ironically find that in our set-up, an active agent, who is concerned about learning the economy's dynamics and, in an attempt to improve forecasting, transforms the state variable using the standard transformations, is more likely to deviate from the steady state than a passive agent.

    Transformations of the State Variable and Learning Dynamics

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    This article studies dynamics in a model where agents forecast a one dimensional variable via ordinary least squares regressions on the lagged values of the state variable. We study the stability properties of alternative transformations of the state variable that the agent can endogenously set forth. We study the consequences on the economy's stability of the typical transformations that an econometrician would attemp, such as differencing, detrending, or taking instantaneous concave transformations, such as logarithms. Surprinsingly, for the considered class of economies, we found that these transformations are destabilizing, whereas alternative transformations, which an econometrician would never consider, such as convex transformations, are stabilizing. Therefore, we ironically find that in our set-up. an active agent, who is concerned about learning the economy's dynamics and transforms the state variable, in an attempt to improve forecasting, is more likely to deviate from the steady state than a passive agent.Temporary equilibrium, Ordinary least squares learning, Globally stable formulations

    Ontology mapping: the state of the art

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    Ontology mapping is seen as a solution provider in today's landscape of ontology research. As the number of ontologies that are made publicly available and accessible on the Web increases steadily, so does the need for applications to use them. A single ontology is no longer enough to support the tasks envisaged by a distributed environment like the Semantic Web. Multiple ontologies need to be accessed from several applications. Mapping could provide a common layer from which several ontologies could be accessed and hence could exchange information in semantically sound manners. Developing such mapping has beeb the focus of a variety of works originating from diverse communities over a number of years. In this article we comprehensively review and present these works. We also provide insights on the pragmatics of ontology mapping and elaborate on a theoretical approach for defining ontology mapping

    Epistemic Injustice in the space of reasons

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    In this paper, I make explicit some implicit commitments to realism and conceptualism in recent work in social epistemology exemplified by Miranda Fricker and Charles Mills. I offer a survey of recent writings at the intersection of social epistemology, feminism, and critical race theory, showing that commitments to realism and conceptualism are at once implied yet undertheorized in the existing literature. I go on to offer an explicit defense of these commitments by drawing from the epistemological framework of John McDowell, demonstrating the relevance of the metaphor of the “space of reasons” for theorizing and criticizing instances of epistemic injustice. I then point out how McDowell’s own view requires expansion and revision in light of Mills' concept of 'epistemologies of ignorance'. I conclude that, when their strengths are used to make up for each others' weaknesses, Mills and McDowell’s positions mutually reinforce one another, producing a powerful model for theorizing instances of systematic ignorance and false belief

    Econometrics for Grumblers: A New Look at the Literature on Cross-Country Growth Empirics

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    Since the seminal contribution of Gregory Mankiw, David Romer and David Weil (1992), the growth empirics literature has used increasingly sophisticated methods to select relevant growth determinants in estimating cross-section growth regressions. The vast majority of empirical approaches however limit cross-country heterogeneity in production technology to the specification of Total Factor Productivity, the 'measure of our ignorance' (Abramowitz, 1956). The central theme of this survey is an investigation of this choice of specification against the background of pertinent data properties when the units of observations are countries or regions and the time-series dimension of the data becomes substantial. We present two general empirical frameworks for cross-country productivity analysis and demonstrate that they encompass the approaches in the growth empirics literature of the past two decades. We then develop our central argument, that cross-country heterogeneity in the impact of observables and unobservables on output is important for reliable empirical analysis. This idea is developed against the background of the pertinent time-series and cross-section properties of macro panel data.Cross-Country Empirical Analysis; Nonstationary Panel Econometrics; Parameter Heterogeneity; Common Factor Model; Cross-section Dependence
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