George Eliot and Rational Economic Agents

1997 ◽  
Vol 8 (2) ◽  
pp. 127-143
Author(s):  
Alan S. Caniglia
Keyword(s):  
Conceptual Framework ◽  
Human Behavior ◽  
George Eliot ◽  
Full Range ◽  
Economic Agent ◽  
Rational Agent ◽  
Economic Discourse ◽  
Economic Agents ◽  
Economic Issues ◽  
Self Interest

Conventional economists analyze human behavior by assuming a “rational economic agent” who is motivated solely by material self interest. This assumption has come to permeate our analyses of economic situations and policies, yet it is clearly limited, simplifying, and not capable of explaining the full range of human behavior. In this essay the writings of George Eliot are discussed as commentaries on this assumption and the implicit deductive methodology underlying it, and as explorations toward the possibility of a broader conceptual framework for analyzing economic issues. The paper argues that Eliot was knowledgeable about economic discourse and was consciously wrestling with the rational agent assumption and possible alternatives in her fictional as well as nonfictional work. Her writings suggest ambivalence toward the deductive/maximizing framework and the search for broader conceptualizations of human behavior.

Levels and types of breaking the maxims: A neo-Gricean account of humor

2015 ◽  
Vol 12 (2) ◽  
Author(s):  
Attila L. Nemesi
Keyword(s):  
Conceptual Framework ◽  
The Self ◽  
Social Psychological ◽  
Cooperative Principle ◽  
Pragmatic Theory ◽  
Self Interest ◽  
Constant Tension

AbstractOn the basis of examples drawn from seven classic Hungarian film comedies, I argue in this article that the place of humor within the Gricean–Leechian model needs to be revisited and extended towards social psychological pragmatics to account for a wider range of humorous material. Scrutinizing the relevant controversial details of Grice’s conceptual framework, my concern is to find a practical way of fitting the various forms of humor into an adequate (and not an idealistic) pragmatic theory. I propose to differentiate between two levels and five types of breaking the maxims, introducing the Self-interest Principle (SiP) supposed to be in constant tension with, and as rational as, Grice’s Cooperative Principle. Politeness and self-presentational phenomena are subsumed under the operation of the SiP which embraces and coordinates the speaker’s own personal and interpersonal purposes.

Economic Issues in Land Administration

2000 ◽  
Author(s):  
Peter Dale ◽  
John McLaughlin
Keyword(s):  
Conceptual Framework ◽  
Economic Performance ◽  
A Priori ◽  
Land Registration ◽  
Forest Reserves ◽  
Economic Issues ◽  
Land Administration ◽  
Study Sites ◽  
Rural Thailand

Land is of such fundamental importance that the land administration function has tended to be taken for granted. Increasingly, however, there is a debate as to how much money should be allocated to this area and with what priority. A host of concerns have been raised with respect to: 1. documenting the benefits and costs of titling and registration projects; 2. financing the construction and ongoing management of land administration infrastructure; 3. developing appropriate pricing strategies and policies for land administration services and products; and 4. examining the economic issues associated with determining the most effective roles for government and the private sector in the land administration field. Where more fundamental assessment of the role of real property has taken place, two schools of thought have emerged that are not mutually exclusive. The first has been based on traditional arguments for detailed a priori benefit/cost assessments (factoring in both quantifiable and non-quantifiable variables); the second and more recent has argued for minimal initial investment in the infrastructure, leaving it to market forces to dictate subsequent developments. The classic work of Gershon Feder and his World Bank colleagues on assessing the benefits of titling and registration has recently been reported in Feder and Nishio (1998). Feder developed a conceptual framework for the economics of land registration, initially in the context of a study on rural Thailand (Feder et al 1988). Two links between titles and economic performance were highlighted: the enhancement of tenure security and the role of titles in collateral arrangements that would facilitate access to institutional credit. Feder’s conceptual framework for evaluating landownership security and farm productivity is illustrated in Figure 11.1. Using empirical evidence from rural Thailand, Feder and his team compared the economic performance of two groups of farmers: one group was without legal titles and operated in forest reserves while the another group had legal titles and operated outside the forest reserve boundaries. Study sites were selected from four provinces, with the comparative groups operating in geographical proximity and within a similar agrarian and climatic environment.

scholarly journals ALTRUÍSMO E EGOÍSMO NA ECONOMIA E EM OUTRAS CIÊNCIAS SOCIAIS: EXPERIMENTOS E EVIDÊNCIAS EMPÍRICAS

2003 ◽  
Vol 29 ◽  
Author(s):  
Marco Novarese
Keyword(s):  
Human Behavior ◽  
Cognitive Processes ◽  
Economic Models ◽  
Self Interest ◽  
Economic Studies ◽  
Biological Selection

O artigo tem por objeto a análise da literatura (econômica e também psicológica e sociobiológica) que enfoca o altruísmo, entendido como negação de um comportamento puramente voltado ao próprio interesse. O comportamento egoísta geralmente tratado no âmbito dos tradicionais modelos econômicos é negado por meio de uma ampla série de observações empíricas e experimentais. Diferentes explicações têm avançado no sentido de justificar estes comportamentos. Uma idéia central é aquela de seleção cultural ou biológica que se conecta a vários temas: emoções, incerteza, racionalidade e processo cognitivo. O objetivo é fornecer ao leitor um survey das posições contemporâneas a respeito do confronto, e a possível integração, entre hipóteses de comportamentos egoísta e altruísta puros. Abstract This article analyses the literature on altruism produced in economics (and also in psychology and socio-biology). Altruism is generally regarded as behaviour alternative to self-interest pursuit. Selfish behaviour, as assumed by traditional economic models, is contested by a vast series of empirical and experimental observations. As a result, different accounts have been produced to explain altruistic behaviour. The idea of cultural or biological selection plays a key role among them, involving elements as various as emotions, uncertainty, rationality and cognitive processes. The aim of the article is to provide a survey of the current standings on the issue of which assumption, the selfishness or the altruistic treat of human behavior, is the most apposite to economic studies, and whether or not they can both stand together in the field.

scholarly journals DEVELOPMENT OF DATABASES STRUCTURE OF INTERNAL ECONOMIC AGENTS FINANCIAL MONITORING

2021 ◽  
Vol 3 (38) ◽  
pp. 204-213
Author(s):  
O. Kuzmenko ◽  
T. Dotsenko ◽  
V. Koibichuk
Keyword(s):  
High Risk ◽  
Economic Agent ◽  
Economic Agents ◽  
Financial Transaction ◽  
Reference Information ◽  
Credit History ◽  
External Sources ◽  
Financial Monitoring ◽  
Financial Transactions ◽  
Legal Entities

Abstract. The article presents the results of developing the structure of databases of internal financial monitoring of economic agents in the form of a data scheme taking into account the entities, their attributes, key fields, and relationships, as well as the structure of units of regulatory information required for basic monitoring procedures based on internal and external sources. The block diagram of the financial monitoring databases, formed in the modern BPMN 2.0 notation using the Bizagi Studio software product on the basis of internal normative and reference documents, consists of tables containing information on: the client's financial monitoring questionnaire; list of risky clients according to the system of economic agent; the list of clients for which there are court rulings and financial transactions which may contain signs of risk; list of PEP clients of the economic agent; list of clients for which there is a share of state ownership (PSP); list of prohibited industries; reference books (type of financial transactions; features of financial transactions of mandatory financial monitoring; features of financial transactions of internal financial monitoring; identity document; type of subject of primary financial monitoring; type of notification; legal status of transaction participant; type of person who related to the financial transaction; the presence of permission to provide information; signs of financial transaction; regions of Ukraine); directory of risk criteria; clients with FATCA status. The scheme of the structure of databases of internal financial monitoring of economic agents using normative and reference information on the basis of external sources is presented by tables containing information on: legal entities, natural persons-entrepreneurs, public formations, public associations, notaries, lawyers of Ukraine; the list of persons related to terrorism and international sanctions, formed by the State Financial Monitoring Service of Ukraine; list of public figures and members of their families; sanctions lists (National Security and Defense Council of Ukraine; Ministry of Economic Development and Trade of Ukraine; OFAC SDN List — US sanctions list; worldwide sanctions lists; EU sanctions lists); lists of high-risk countries (aggressor state, countries with strategic shortcomings, countries with hostilities, list of the European Commission for countries with weak APC / FT regime, countries with high levels of corruption, self-proclaimed countries, countries with high risk of FT, offshore countries); The First All-Ukrainian Bureau of Credit Histories, which describes the credit history, credit risks of individuals and legal entities in Ukraine (PVBKI); International Bureau of Credit Histories, which describes the credit history of individuals and legal entities of clients of Ukrainian economic agents (MBKI); list of dual-use goods; list of persons with OSH; AntiFraud HUB — information about fraudsters; register of bankruptcies; register of debtors; register of court decisions; database of invalid documents; list of persons hiding from the authorities; register of EP payers; registers of encumbrances on movable and immovable property; data on securities; lustration register; register of arbitration trustees; corruption register; bases of Ukrainian organizations; information on foreign companies. Integrated use of the developed databases based on the proposed schemes will improve the procedures for financial monitoring by economic agents and solve several current problems. Keywords: economic agents, financial monitoring, structural scheme of the database, normative and reference information of internal securement, normative and reference information of external securement. JEL Classification E44, D53, G21, G28, G32 Formulas: 0; fig.: 2; tabl.: 0; bibl.: 12.

scholarly journals BEHAVIORAL ECONOMICS: AN EPISTEMIC TURN IN THE INTERPRETATION OF RATIONALITY

2019 ◽  
Vol 2019 (7-8) ◽  
pp. 3-15
Author(s):  
Kostyantyn BEZGIN ◽  
◽  
Volodymyr USHKALYOV ◽  
Keyword(s):  
Human Behavior ◽  
Cognitive Abilities ◽  
Dynamic Balance ◽  
External Environment ◽  
Thinking Skills ◽  
Human Mind ◽  
Critical Thinking Skills ◽  
Economic Science ◽  
Economic Knowledge ◽  
Economic Agents

The purpose of the article is to formulate a hypothesis regarding the relationship and dynamic balance between normative and descriptive epistemology, which is established in the process of interpreting rational human behavior to create and accumulate congruent economic knowledge. In the face of growing complexity and uncertainty of the external environment, the role of critical thinking skills is increasing, which intensify the cognitive co-evolution of a person and environment by neutralizing evolutionarily formed cognitive dysfunctions. As an axiological nucleus it is proposed to use the theory of rational choice – the standard of human behavior, which contributes to the diffusion of complexity and uncertainty of the external environment. However, the presence of an axiological nucleus is a necessary but not sufficient condition, which allows it to be adequately integrated with the subject substrate. For this, one requires the relevant knowledge of those behavioral features that are presented by the epistemic periphery that dynamically changes and also permanently detects and fixes the properties and characteristics of the neural substrate, its phenomenology and behavioral characteristics. The knowledge being accumulated on the epistemic periphery of economic science allows adequately reloading the programs of the human mind to bring them into line with modern requirements for the cognitive abilities of economic agents, and also to create an internally holistic and consistent system of economic knowledge, which will take into account the complexity and multidimensional development of human-sized systems. The epistemic balance of normative and descriptive epistemology in the context of the interpretation of rational behavior may lie in a hypothesis that eliminates the dichotomy of normative and positive economic knowledge and is based on taking into account the structure of human cognitive processes, as well as the growing complexity and uncertainty of the external environment.

scholarly journals The Cynical Genius Illusion: Exploring and Debunking Lay Beliefs About Cynicism and Competence

2018 ◽  
Vol 45 (2) ◽  
pp. 254-269 ◽  
Author(s):  
Olga Stavrova ◽  
Daniel Ehlebracht
Keyword(s):  
Cognitive Ability ◽  
Human Nature ◽  
Human Behavior ◽  
Cross Cultural ◽  
Academic Competency ◽  
Sociocultural Environment ◽  
Lay Beliefs ◽  
Negative Appraisal ◽  
Self Interest ◽  
Low Levels

Cynicism refers to a negative appraisal of human nature—a belief that self-interest is the ultimate motive guiding human behavior. We explored laypersons’ beliefs about cynicism and competence and to what extent these beliefs correspond to reality. Four studies showed that laypeople tend to believe in cynical individuals’ cognitive superiority. A further three studies based on the data of about 200,000 individuals from 30 countries debunked these lay beliefs as illusionary by revealing that cynical (vs. less cynical) individuals generally do worse on cognitive ability and academic competency tasks. Cross-cultural analyses showed that competent individuals held contingent attitudes and endorsed cynicism only if it was warranted in a given sociocultural environment. Less competent individuals embraced cynicism unconditionally, suggesting that—at low levels of competence—holding a cynical worldview might represent an adaptive default strategy to avoid the potential costs of falling prey to others’ cunning.

scholarly journals ECONOMIC AND ORGANIZATIONAL PRECONDITIONS FOR THE DEVELOPMENT OF AGENCY RELATIONS IN A CRISIS PERIOD

2019 ◽  
Vol 5 (2) ◽  
pp. 73 ◽  
Author(s):  
Sergey Kivalov ◽  
Olha Kibik
Keyword(s):  
Crisis Management ◽  
System Analysis ◽  
Crisis Response ◽  
Economic Agent ◽  
Structural Method ◽  
Positive Trend ◽  
Problem Solution ◽  
Economic Agents ◽  
Crisis Conditions ◽  
Effective Development

The purpose of the article is the research of economic-legal and organizational principles of problem solution of economic agents’ functioning and implementation of activities within the system of anti-crisis measures in order to ensure the effective functioning of the country’s economic system. Crisis phenomena change the living tendencies of any economic agent. The purpose of each economic agent is to create sufficient capacity for functioning and development in favourable and especially in crisis conditions. In order to ensure the effective development of a business entity as an economic agent, the main condition is the maximization of its value by increasing the investment attractiveness and level of competitiveness in the domestic and foreign markets. Formation of this condition is a prerequisite for survival in a crisis situation and development ensuring in favourable circumstances. The elements of anti-crisis management should be correctly integrated into the general policy of the management system of economic agents at the microeconomic and macroeconomic level. The subject of the study is the functioning of economic agents in a crisis. Research methodology. The study is based on the use of general scientific and specialscientific methods of scientific knowledge. The dialectical method allowed investigating the definition of agency relations. The method of system analysis was used to study the principles and economic and legal preconditions of the functioning of the anti-crisis management systems. The system-structural method helped to study basic precrisis measures to develop crisis-response potential of maritime agency service. Practical implications. The article considers the mechanism of economic and legal provision of anti-crisis management drawing on the example of maritime agents. The most significant components of the transaction costs of the principal are determined. Value/originality. The role of maritime agents’ associations has been identified. The necessity and preconditions for accelerating the adaptation of the world experience of the functioning of self-regulated organizations in the field of the maritime agency, in order to improve the state of the majority of economic entities, is proved. The development of cluster forms of the organization of interaction of different participants in maritime activity was determined as a positive trend. The promising area for further research is the formation of a model of responsible relationships between economic agents of different levels in order to achieve optimal results of realization of individual and social economic interests at key stages of the life cycle of the economic systems functioning.

scholarly journals Charismatic and Transformational Leadership

Management ◽  
2019 ◽  
Author(s):  
Kevin B. Lowe ◽  
Hanoku Bathula
Keyword(s):  
Transformational Leadership ◽  
Full Range ◽  
Charismatic Leadership ◽  
Superior Performance ◽  
Employee Behavior ◽  
Leadership Theories ◽  
Organizational Mission ◽  
Significant Difference ◽  
Leaders And Followers ◽  
Self Interest

Leadership is a complex and multifaceted phenomenon which defies comprehensive definition in a sentence or two. As the legendary Ralph Stogdill, the author of the Handbook of Leadership: A Survey of the Theory and Research (1974), famously commented, there are almost as many different definitions of leadership as there are people who have attempted to define the concept. One perspective on leadership is the process of developing a vision and communicating that vision in a way that influences others to embrace and act on the vision. Traditional transactional leadership theories focused on interpersonal transactions, founded on principles of rational economic exchange, between managers and employees by using rewards systems to influence employee behavior. However, newer leadership theories that emerged around the 1980s, often referred to collectively as neo-charismatic theories, explained how leaders could influence their followers to place the needs of the organizational mission above their own self-interest. The two most popular of those theories, namely, charismatic leadership and transformational leadership, are both focused on creating a unique bond between leaders and followers, resulting in superior performance. While the terms charismatic and transformational are often used interchangeably and are in some ways linked to each other conceptually, there is a significant difference in the full range of their respective conceptualizations. This chapter covers major theoretical developments and their practical relevance to practicing managers and provides a list of important resources that can help researchers in this area.

Introduction

2018 ◽  
Author(s):  
Meghan Sullivan
Keyword(s):  
Rational Agent ◽  
States Of Affairs ◽  
Rational Planning ◽  
Self Interest ◽  
Key Concepts

This introduction states key concepts used in the book. First, it defines time biases as systematic preferences about when events happen. Next, it describes the kind of rationality at issue in the book: prudential approbative rationality. This kind of rationality governs what we should approve of or prefer given our self‐interest. On this approach to rationality, preferences are the sorts of attitudes that we can and should support with reasons. Finally, the introduction discusses three principles for rational planning needed for the book’s arguments: (1) Consistency: a prudentially rational agent doesn’t prefer logically inconsistent states of affairs; (2) Success: at any given time, a prudentially rational agent prefers her life going forward to go as well as possible; and (3) Non‐Arbitrariness: at any given time, a prudentially rational agent’s preferences are insensitive to arbitrary differences.

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