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Topic: Perfect rationality

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	Rationality - Wikipedia, the free encyclopedia
		In philosophy rationality and reason are the key methods we use to treat the data we gather through empiricism, which stands for the experiences, the observations which our senses are used to collect.
		Others think that any kind of rationality along the lines of rational choice theory is a useless concept for understanding human behavior; the term homo economicus (economic man: the imaginary logically consistent but immoral being assumed in economic models) was coined largely in honor of this view.
		Rationality is a central principle in artificial intelligence, where a rational agent is specifically defined as an agent which always chooses the action which maximises its expected performance, given all of the knowledge it currently possesses.
	en.wikipedia.org /wiki/Rationality (726 words)

	Rationality of Mystic Insight (Site not responding. Last check: 2007-10-21)
		There is an unaccustomed leap of thinking involved when the mind moves from ego-shaped, ordinary perfect rationality (at the end of its rope, followed to the end of the road) to transcendent perfect rationality or perhaps "trans-rationality".
		The truly perfected rational mind must willingly re-embrace a lie, the lie or convention of egoic agency, to regain the practical sense of being a stable control-agent.
		It's either impossible, in which case defeatist abandonment of the work of critical rationality is warranted, or it's easy, in which case those who want to succeed must make up their mind to use and refine critical rationality for all it is worth, and reach a not-so-difficult state of mastering transcendent rationality.
	www.egodeath.com /RationalityOfMysticInsight.htm (4146 words)

	sociology - Rationality
		Continental rationalism is a school in which rationality and reason are the key methods by which we obtain knowledge, in opposition to empiricism which states that knowledge is obtained primarily via the senses.
		Others think that any kind of rationality along the lines of rational choice theory is a useless concept for understanding human behavior; the term homo economicus is largely in honor of this view.
		Rationality is a central principle in Artificial Intelligence, where an rational agent is specifically defined as an agent which always chooses the action which maximises its expected performance, given all of the knowledge it currently possesses.
	www.aboutsociology.com /sociology/Rationality (465 words)

	Transcendence of Rationality (Site not responding. Last check: 2007-10-21)
		To complete rationality, there are two senses -- an early kind of completeness, and a later, truly perfected and truly completed rationality that knows that for practical reasons the mind must continue to make the false and illogical egoic assumptions, now known to be a practically required convention.
		Ordinary perfect rationality is only reached after developing egoic rationality to the point of seeing how illogical it is, then revising it for a more logical system -- but at that point, a cybernetic control-stability crisis immediately arises.
		It is a kind of coherent rationality that is more than perfect; it is transcendent; it is rationality that includes the practical ability to fudge to save your life as a practical, virtual self-controller agent who wields the power of will even though the world is a frozen spacetime block.
	www.egodeath.com /TranscendenceofRationality.htm (5289 words)

	Advancing the Rationality Debate
		However, despite his perfect transitivity, despite his perfectly rational competence, Bill is still a money pump--and it is very doubtful that his preferences are serving his goals (Baron, 1993, 1994).
		If the competence model is fixed at perfect rationality, the only way to explain an extremely large normative/descriptive gap is by an equally large deviation from the normal construal of the problem.
		Perfect rationality for the bee means local fitness optimization for its genes.
	falcon.jmu.edu /~westrf/papers/BBS_Replies.html (16319 words)

	Online Guide to Ethics and Moral Philosophy (Site not responding. Last check: 2007-10-21)
		Its perfect rationality, and hence the existence of an immanent god, are defended by various versions of the Argument from Design, with apparent imperfections explained away, for example, as blessings in disguise or unavoidable concomitants of the best possible structure...
		But that understanding, a perfected rationality, was itself so integral to the Stoic conception of happiness that to call it instrumental may be to underestimate the true unity of Stoic philosophy.
		The 'agreement' comprises both the perfect internal coherence and rationality of the good life - 'living in accordance with one concordant reason' - and its conformity with nature, the 'nature' in question being itself equated with both one's own individual nature and the nature of the world.
	caae.phil.cmu.edu /Cavalier/80130/part1/sect2/texts/R_Stoicism.html (5454 words)

	Certain Doubts » Buridan’s Ass Paradox (Site not responding. Last check: 2007-10-21)
		It seems a more interesting problem if it concerns whether a perfectly rational being can have a reason to choose one bale over the other on the assumption that all of the information relevant to the preferability of each bale has been exhausted, the agent knows this, and the bales are equi-preferable on that information.
		Since God has perfect knowledge and perfect rationality, he should have known all this before hand so the problem is picked up epistemically.
		In order for the paradox to disturb, perfect rationality in the second sense would somehow have to be better or more perfect than perfect rationality in the first sense.
	bengal-ng.missouri.edu /~kvanvigj/certain_doubts/?p=467 (5786 words)

	Florian Znaniecki: Cultural Reality: Chapter 4: The Practical Organization of Reality (Site not responding. Last check: 2007-10-21)
		An empirical complex may be a rational system, even an almost perfectly organized one, but it will be also a concrete complex, transcending its systematic organization by its concreteness; it will include besides the objects and connections demanded by its systematic rationality other objects and connections which may not at all harmonize with these demands.
		It is this pre-scientific rationality which we must study first of all before we pass to the investigation of the rational order which science tends to impose upon the world, whether directly or through the intermediary of the practical activity which it controls.
		And since a system, however perfect, however objective and impersonal it may be when taken abstractly and exclusively in its objective rational order, is also always an empirical complex; it is dependent on its actual reproductions for the empirical preservation of its rationality in the concrete evolution of the historical world.
	spartan.ac.brocku.ca /~lward/Znaniecki/1919/1919_4.html (11606 words)

	Charles Holt's Research in Experimental Economics and Game Theory
		The observed choice data usually reject the hypothesis of perfect rationality that is typically used in economic theory, and the models of bounded rationality are used to explain and predict anomalies.
		The logit equilibrium imposes the rational expectations assumption, but relaxes the rational choice assumption by letting the probability of making the best decision be is an increasing function of the difference in expected payoffs, just as the probability of judging correctly which light is brightest is positively related to the true difference in brightness.
		A model of bounded rationality is used to explain why the extent of rent dissipation in an all-pay auction may be sensitive to factors such as the number of competitors, the cost of effort, etc., which have no affect in a Nash analysis.
	www.people.virginia.edu /~cah2k/research.html (8661 words)

	Drifty's Rants - -
		But the rationality of the system is "not necessarily perfect rationality"; the Intentional stance "start[s] with the supposition of what we take to be perfect rationality, and then alter our premise in individual cases as we acquire evidence of individual foibles and weakness in reason" (p.
		In case of a fully rational being, one is absolved of moral responsibility when one performs an action based on false information that no rational being could be able to realize is false by normal means.
		But if one's rationality is utterly destroyed by some manipulation of his/her mind, then he/she is excused from responsibility "on the grounds of insanity" since he/she will have become "invulnerable to rational communication" (p.
	www.ocf.berkeley.edu /~bac/DR/rants/the_intentional_interpretation.php (5171 words)

	Moral Character
		When they enjoy and recognize the value of developing their rational powers, they can use this recognition to guide their decisions and to determine which actions are appropriate in which circumstances.
		Rational activity performed in the company of competent others makes our own rational activity more continuous and a more stable source of enjoyment and self-esteem.
		Under a perfect duty what is owed is specific and legally enforceable by political society or courts; but action in accord with imperfect duty cannot be compelled, and what is owed under an imperfect duty is imprecise.
	plato.stanford.edu /entries/moral-character (9235 words)

	Shlomo Zilberstein - PAPER ABSTRACT (Site not responding. Last check: 2007-10-21)
		A rational agent is therefore an agent whose behavior represents a solution to an optimization problem defined by the agent's environment, goals and resources.
		Bounded rationality is a desired property of intelligent agents since it provides a good evaluation criteria and since it establishes a formal framework to analyze agents.
		We argue that bounded rationality is a good design goal, that constructing rational agents is worth the effort, and that a number of practical techniques for doing so are currently available.
	anytime.cs.umass.edu /papers/fall95.html (219 words)

	Rationality, Choice, and Power
		That is, rationality assumes that a decision is made only after an individual has evaluated all possible options, assigning to each a relative value or weight, and has selected from this array of possible choices the one most beneficial (or least harmful) to her.
		In its abstract, theoretical form, rationality assumes perfect information; the calculus of costs and benefits (what you give up and what you gain) is made by evaluating all possible options, based on all necessary information.
		The rational thinker will gradually strip away possible options, all the while calculating which of the remaining possible courses of action will yield the most gains while reducing necessary costs of the decision or action.
	www.sou.edu /polisci/hughes/Ration.htm (1432 words)

	Global Agenda (Site not responding. Last check: 2007-10-21)
		Students of introductory economics are taught about the behaviour of markets populated by rational agents, endowed with a perfect ability to make use of uncertain information.
		Many believers in the rational model were not convinced: they argued that perfect rationality would prevail for decisions that involved weightier consequences and, furthermore, that efficient markets would protect investors from systematic pricing errors.
		Like friction in mechanics, departures from perfect rationality have consequences that are too large to be ignored.
	www.globalagendamagazine.com /2005/danielkahnemanterranceodeanbradbarber.asp (1961 words)

	The Likelihood of God's Existence
		The likelihood of an event is thus a convolution of rationality and nomicity, as a function of the data.
		The existence of God is thus represented as the state of perfect rationality (omniscience) and perfect nomicity (omnipotence).
		The researcher must be able to rationalize the constraints they face, or else defend himself from the criticism he is already assuming what he wants to conclude.
	www.daxe.com /LIKGOD.html (3084 words)

	Individual Differences in Reasoning:
		Advocates of perfect market rationality in economics admit that people make errors but defend their model of idealized competence by claiming that the errors are essentially random.
		One thing that all of the various camps in the rationality dispute have in common is that each conditions their beliefs about the appropriate norm to apply based on the centraltendency of the responses to a problem.
		A conflict between the decontextualizing requirements of normative rationality and the fundamental computational bias may perhaps be one of the main reasons that normative and evolutionary rationality dissociate.
	www.bbsonline.org /Preprints/OldArchive/bbs.stanovich.html (15909 words)

	The Philippa Huckle Group Limited
		Behavioral economics is replacing the useful idealised assumptions of perfect rationality with more realistic models.
		This is a fertile environment because market participants act in ways that are sometimes not rational and, therefore, do not fit into the conventional economic prism.
		Gangadharan says people often do not go for the rational option in their market exchanges, which goes some way to explain why conventional economic models do not always get it right and why behavioral economics can make a contribution to business.
	www.philippahuckle.com /brweekly.html (965 words)

	Rickert, Neil W. (1998) Intelligence is Not Rational, Psycoloquy: 9,#51 Social Bias (3) (Site not responding. Last check: 2007-10-21)
		As usually understood, a theory of rationality is a philosophical theory and is usually considered to be part of epistemology.
		It is assumed that a person, or a rational agent, has a system of beliefs and a set of goals or desires or intentions.
		In that case, the norms of rationality require that the agent only make decisions which are in accord with its beliefs and its current perceptual inputs.
	psycprints.ecs.soton.ac.uk /archive/00000600 (2168 words)

	Honors Thesis
		After the discussion concerning the prominence placed on rationality, I then turn to the research in psychology to test the validity of “rationality” used in economics.
		Kahneman and Tversky began their research in reaction to the definition of rationality used by economists (Doherty, 13).
		Davisson and Wahlund’s conclusion violates the tenet of economic rationality, which states that a rational customer uses knowledge of prices and income to maximize his or her utility (Mansfield, 56; McConnell and Brue, 11).
	www.pitt.edu /~bobhaus/Honors.htm (9780 words)

	MAPS: double book review "Dream Srugstore" and "Psychoactive Sacramentals"
		Great reply David, FYI there is a growing number of individuals who are looking into post religion spirituality whose perspectives and practices can survive the analysis of radical and rational honesty.
		It is an attempt to move out of the orthodox view that mystical insight is nonrational by correcting the “meaning of transcending rationality.” A great website is ‘Ego Death and Self-Control Cybernetics’ by Michael Hoffman (www.egodeath.com) – the following from his site: Correct meaning of transcending rationality Rationality inevitably leads to this model.
		Perfectly logical thinking is in some way incompatible with practical self-control, so the moment Reason comes to fulfilment, it must do so by including immediately, an escape hatch, a kind of release from "the law" of perfect rationality.
	www.maps.org /pipermail/maps_forum/2004-May/006094.html (718 words)

	Colin F. Camerer - Web-based Backgrounder (Site not responding. Last check: 2007-10-21)
		Complete preferences (i.e., utility maximization), equilibrium, perfect competition, and (later) Bayesian updating and rational expectations are undoubtedly useful simplifying assumptions.
		For many years economists found assumptions of perfect competition and perfect information to be good approximations; but both idealized cases were eventually replaced by more complicated, and more realistic, models of imperfect competition (e.g., monopolistic competition, and game-theoretic models of corporate behavior), and imperfect information (e.g., signaling).
		Replacing the useful idealized assumption of perfect rationality with more realistic models, consistent with what is known from psychology, neuroscience, and sociology, is the next natural step in improving economics.
	www.hss.caltech.edu /~camerer/web_material/be.html (337 words)

	Less Rationality, More Efficiency: a Laboratory Experiment on "Lemons" Markets.
		In this paper we experimentally test a theory of boundedly rational behavior in a "lemons market." We analyzed two different market designs, for which perfect rationality implies complete and partial market collapse, respectively.
		Our empirical observations deviate substantially from these predictions of rational choice theory: Even after 20 repetitions, the actual outcome is closer to e±ciency than expected.
		Our bounded rationality approach to explaining these observations starts with the insight that perfect rationality would require the players to perform an in¯nite number of iterative reasoning steps.
	www.bepress.com /gwp/default/vol2005/iss1/art18/current_article.html (213 words)

	Everything I Might Say Will Already Have Passed Through Your Mind*
		We present three arguments regarding the limits to rationality, prediction, and control in economics, based on Morgenstern's analysis of the Holmes-Moriarty problem.
		In a classic article, which led to his collaboration with John von Neumann, Oskar Morgenstern (1935) argued that perfect foresight is inconsistent with economic equilibrium.
		If we represent the supposed perfect rationality of Holmes and Moriarty by modeling them as Turing machines (recognizing that there other views of what constitutes “perfect rationality”), we can adapt a standard result on computability to show that Holmes and Moriarty must remain more or less inscrutable to one another.
	alpha.fdu.edu /~koppl/rosser.htm (7700 words)

	[No title]
		From a purely technical point of view, money is the most "perfect" means of economic calculation-it is, formally, the most rational means of orienting economic activity.
		From a social point of view, the modes of the DOL can be classified according to the mode in which the economic advantages which are regarded as returns for the different functions are appropriated.
		The fact that the maximum of formal rationality in capital accounting is possible only where the workers are subjected to domination by entrepreneurs, is a further specific element of substantive irrationality in the modern economic order.
	www.colorado.edu /Sociology/gimenez/soc.5001/Weber2.txt (2437 words)

	Math Finance Seminar : Abstract
		While the predictions of the model are not perfect, they are extremely good in many respects, e.g., they explain about 70% of the variance in the daily bid-ask spread.
		Like perfect rationality, a stochastic zero-intelligence model can be used to make strong predictions based on parsimonious assumptions, even if these assumptions are highly oversimplified.
		The standard research program in contemporary economics is to perturb equilibria based on perfect rationality, adding imperfections such as asymmetric information or bounded rationality.
	www.math.nyu.edu /faculty/avellane/jdfarmer.html (210 words)

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