Journal Article10.1177/0048393115586999
Optimization-Based Explanations:
Graciela Kuechle,Diego Rios +1 more
4
TL;DR: This article argues that evolutionary models based on selection validate, under appropriate conditions, the relevance of optimality as an explanatory mechanism in rational choice theory, even if they situate it at different levels.
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Abstract: This article argues that evolutionary models based on selection validate, under appropriate conditions, the relevance of optimality as an explanatory mechanism in rational choice theory. The reason is that these frameworks share the mechanism that drives the results, namely, optimization, even if they situate it at different levels. The consequences of our argument are twofold. First, it resolves the tension between those predictions of rational choice theory that are accurate and the evidence showing that individuals seldom optimize. Second, it relativizes the explanatory import of rationality without diminishing the role of optimization as a mechanism.
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A theory of fairness, competition and cooperation
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TL;DR: This paper showed that if some people care about equity, the puzzles can be resolved and that the economic environment determines whether the fair types or the selesh types dominate equilibrium behavior in cooperative games.
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TL;DR: This article showed that if a fraction of the people exhibit inequality aversion, stable cooperation is maintained although punishment is costly for those who punish, and they also showed that when they are given the opportunity to punish free riders, stable cooperations are maintained.