Articles

Rationality and the Bayesian paradigm

I. GILBOA

Journal of Economic Methodology

September 2015, vol. 22, n°3, pp.312-334

Departments: Economics & Decision Sciences, GREGHEC (CNRS)

Keywords: Rationality, Probability, Reasoning


It is argued that, contrary to a rather prevalent view within economic theory, rationality does not imply Bayesianism. The note begins by defining these terms and justifying the choice of these definitions, proceeds to survey the main justification for this prevalent view, and concludes by highlighting its weaknesses.


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