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Rational choice theory, like Bayseianism in statistics, is based on informed opinion (rational expectations), but it is opinion none the less. Therefore, it is a heuristic device subject to YMMV rather than being determinative, that is, leading to knowledge rather than opinion or belief. This condition determines the scope of the method.Lars P. Syll’s BlogTruth and rationalityLars P. Syll | Professor, Malmo UniversitySee also todayMainstream economics — nonsense masquerading as science
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Rational choice theory, like Bayseianism in statistics, is based on informed opinion (rational expectations), but it is opinion none the less. Therefore, it is a heuristic device subject to YMMV rather than being determinative, that is, leading to knowledge rather than opinion or belief. This condition determines the scope of the method.Rational choice theory, like Bayseianism in statistics, is based on informed opinion (rational expectations), but it is opinion none the less. Therefore, it is a heuristic device subject to YMMV rather than being determinative, that is, leading to knowledge rather than opinion or belief. This condition determines the scope of the method.Lars P. Syll’s BlogTruth and rationalityLars P. Syll | Professor, Malmo UniversitySee also todayMainstream economics — nonsense masquerading as science
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Lars P. Syll’s Blog
Truth and rationality
Lars P. Syll | Professor, Malmo University