3,269 research outputs found
Product Quality in a Simple OLG Model of Scientific Competition
Using a simple OLG model where the research output of one generation provides inputs for the next, the paper explains how quality standards can become established in scientific competition. Researchers seek status, which they get if their results are used by the next generation. Quality is hereditary in the sense that input quality affects output quality. Hereditary quality allows for simple coordination on quality standards.economics of science, methodology of economics, product quality, quality standards, scientific competition
Why Bayesian Rationality Is Empty, Perfect Rationality Doesn't Exist, Ecological Rationality Is Too Simple, and Critical Rationality Does the Job
Economists claim that principles of rationality are normative principles. Nevertheless, they go on to explain why it is in a person's own interest to be rational. If this were true, being rational itself would be a means to an end, and rationality could be interpreted in a non-normative or naturalistic way. The alternative is not attractive: if the only argument in favor of principles of rationality were their intrinsic appeal, a commitment to rationality would be irrational, making the notion of rationality self-defeating. A comprehensive conception of rationality should recommend itself: it should be rational to be rational. Moreover, since rational action requires rational beliefs concerning means-ends relations, a naturalistic conception of rationality has to cover rational belief formation including the belief that it is rational to be rational. The paper considers four conceptions of rationality and asks whether they can deliver the goods: Bayesianism, perfect rationality (just in case that it differs from Bayesianism), ecological rationality (as a version of bounded rationality), and critical rationality, the conception of rationality characterizing critical rationalism. The answer is summarized in the paper's title.rationality, self-interest, normative
Participation and Decision Making: A Three-person Power-to-take Experiment
It is often conjectured that participatory decision making may increase acceptance even of unfavorable decisions. The present paper tests this conjecture in a three-person power-to-take game. Two takers decide which fraction of the responder's endowment to transfer to themselves; the responder decides which part of the endowment to destroy. Thus, the responder can punish greedy takers, but only at a cost to herself. We modify the game by letting the responder participate in takers' transfer decision and consider the effect of participation on the destruction rate. We nd that participation matters. Responders destroy more if they (1) had no opportunity to participate in the decision making process and (2) are confronted with highly unfavorable outcomes. This participation eect is highly signicant for those responders (the majority) who show negative reciprocity (i.e., destroy more when takers are greedier).fairness, participatory decision making, power-to-take game, procedural fairness, reciprocity
Conjugacy classes of trialitarian automorphisms and symmetric compositions
The trialitarian automorphisms considered in this paper are the outer
automorphisms of order 3 of adjoint classical groups of type D_4 over arbitrary
fields. A one-to-one correspondence is established between their conjugacy
classes and similarity classes of symmetric compositions on 8-dimensional
quadratic spaces. Using the known classification of symmetric compositions, we
distinguish two conjugacy classes of trialitarian automorphisms over
algebraically closed fields. For type I, the group of fixed points is of type
G_2, whereas it is of type A_2 for trialitarian automorphisms of type II
From Unrealistic Assumptions to Economic Explanations. Robustness Analysis from a Deductivist Point of View
Sugden (2000) offers an answer to the question of how unrealistic models can be used to explain real-world phenomena: by considering a set of unrealistic models, one may conclude that a result common to these models also holds for a realistic model that, however, is too complex to be analyzed, or even just stated, explicitly. This is a kind of robustness argument. Sugden argues that the argument is inductive and that the methodological strategy is inconsistent with received methodological views. This paper argues that Sugdenâs argument is in need of improvement, that the improved version is deductive, and that the methodological strategy, if applied with care, fits well into one of the received views dismissed by Sugden, namely, hypothetico-deductivism, or the the testing view of science
Product Quality in a Simple OLG Model of Scientific Competition
Using a simple OLG model where the research output of one generation
provides inputs for the next, the paper explains how quality standards can
become established in scientific competition. Researchers seek status, which
they get if their results are used by the next generation. Quality is hereditary
in the sense that input quality affects output quality. Hereditary quality
allows for simple coordination on quality standards
Elementary Logic for Philosophy of Science and Economic Methodology
This paper covers those parts of elementary logic that are needed in
an introductory course on philosophy of science and the methodology
of economics. With this aim in mind, much of the technical material
from standard logic courses can be dropped. Specifically, the exposition
emphasizes the semantic side, with only a few remarks on syntacti-
cal aspects. On the other hand, some philosophical and methodological
remarks are in order to prepare the ground for methodological discus-
sions. Where appropriate, exercises (including review questions and
discussion questions) are provided. Solutions to selected exercises are
given at the end of the paper
- âŠ