Related papers: Rational Bubbles: A Clarification
A formalism is developed to calculate the bubble nucleation rate in theories where the symmetry breaking is by radiative corrections. Although to leading and next-to-leading order the result can be expressed in terms of the effective action…
Recently, the existence of so-called granular bubbles and droplets has been demonstrated experimentally. Granular bubbles and droplets are clusters of particles that respectively rise and sink if submerged in an aerated and vibrated bed of…
Recent work in cognitive science has uncovered a diversity of explanatory values, or dimensions along which we judge explanations as better or worse. We propose a Bayesian account of how these values fit together to guide explanation. The…
This book starts from the basic questions that had been raised by the founders of Economic theory, Smith, Ricardo, and Marx: what makes the value of commodities, what are production, exchange, money and incomes like profits, wages and…
A new definition of a real number is that it is a rule which says Yes or No based on whether the real number ought to be in a given rational interval. This is a teaser paper for formalizing, exploring, and generalizing this definition. The…
We have previously presented a critique of the standard Marshallian theory of the firm, and developed an alternative formulation that better agreed with the results of simulation. An incorrect mathematical fact was used in our previous…
Motivated reasoning posits that people distort how they process information in the direction of beliefs they find attractive. This paper creates a novel experimental design to identify motivated reasoning from Bayesian updating when people…
This chapter presents probability logic as a rationality framework for human reasoning under uncertainty. Selected formal-normative aspects of probability logic are discussed in the light of experimental evidence. Specifically, probability…
In his stimulating article on the reasons for two puzzling observations about the behaviour of interest rates, exchange rates and the rate of inflation, Charles Engel (2016) puts forward an explanation that rests on the concept of a…
The standard rational choice model describes individuals as making choices by selecting the best option from a menu. A wealth of evidence instead suggests that individuals often filter menus into smaller sets - consideration sets - from…
In this work we propose a multi-valued extension of logic programs under the stable models semantics where each true atom in a model is associated with a set of justifications. These justifications are expressed in terms of causal graphs…
Theories with compact extra dimensions are sometimes unstable to decay into a bubble of nothing -- an instability resulting in the destruction of spacetime. We investigate the existence of these bubbles in theories where the moduli fields…
This paper introduces a new family of cognitive modal logics designed to formalize conjectural reasoning: modal systems in which cognitive contexts extend known facts with hypothetical assumptions in order to explore their consequences.…
Bell's Theorem was developed on the basis of considerations involving a linear combination of spin correlation functions, each of which has a distinct pair of arguments. The simultaneous presence of these different pairs of arguments in the…
We consider a simple model of rational agents competing in a single product market described by simple linear demand curve. Contrary to accepted economic theory, the agents' production levels synchronise in the absence of conscious…
We analyze a controlled price formation experiment in the laboratory that shows evidence for bubbles. We calibrate two models that demonstrate with high statistical significance that these laboratory bubbles have a tendency to grow faster…
In this paper, we make a review on the concepts of rationality across several different fields, namely in economics, psychology and evolutionary biology and behavioural ecology. We review how processes like natural selection can help us…
We consider the problem of rational uncertainty about unproven mathematical statements, remarked on by G\"odel and others. Using Bayesian-inspired arguments we build a normative model of fair bets under deductive uncertainty which draws…
We review recent work that employs the framework of logical inference to establish a bridge between data gathered through experiments and their objective description in terms of human-made concepts. It is shown that logical inference…
Relation extraction (RE) aims to extract potential relations according to the context of two entities, thus, deriving rational contexts from sentences plays an important role. Previous works either focus on how to leverage the entity…