Lotz, Aileen and Gosselin, Pierre (2012): A dynamic model of interactions between conscious and unconscious.
Preview |
PDF
MPRA_paper_36697.pdf Download (222kB) | Preview |
Abstract
This paper advocates that some limits of the rational agent hypothesis result from the improper assumption that one individual should be modeled as a single rational agent. We model an individual composed of two autonomous and interacting structures, conscious and unconscious. Each agent utility form depends both on external signals and other structures' actions. The perception of the signal depends on its recipient and its grid of interpretation. We study both the static and dynamic version of this interaction mechanism. We show that the dynamics may display instability, depending on the structures interactions'strength. However, if unconscious has a strategic advantage, greater stability is reached. By manipulating other structures�goals, the strategic agent can lead the whole system to an equilibrium closer to its own optimum. This result shows that some switch in the conscious�objective can appear. Behaviors that can't be explained with a single utility can thus be rational if we add a rational unconscious agent. Our results justify our hypothesis of a rational interacting unconscious. It supports the widening of the notion of rationality to multi-rationnality in interaction.
Item Type: | MPRA Paper |
---|---|
Original Title: | A dynamic model of interactions between conscious and unconscious |
English Title: | A dynamic model of interactions between conscious and unconscious |
Language: | English |
Keywords: | dual agent; conscious and unconscious; rationality; multi-rationality; emotions; choices and preferences; multi-agent model; consistency; |
Subjects: | D - Microeconomics > D7 - Analysis of Collective Decision-Making > D70 - General D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D87 - Neuroeconomics |
Item ID: | 36697 |
Depositing User: | Aileen Lotz |
Date Deposited: | 16 Feb 2012 13:48 |
Last Modified: | 29 Sep 2019 04:32 |
References: | Antonelli Giovanni. Sulla teoria matematica della economia politica. Pise, 1886 ; traduit en Preferences, utility and demand, J. Chipman, L. Hurwicz, M. Richter, & H. Sonnenschein (eds). New York : Harcourt Brace Jovanovich, 1971. Allais, Maurice. « Le comportement de l.homme rationnel devant le risque: critique des postulats et axiomes de l.école americaine » . Econometrica, vol. 21, n_ 4, 1953,503-546. Baltussen, Guido, Behavioral Finance: An Introduction (January 13, 2009). Becker, Gary (1968). "Crime and Punishment: An Economic Approach". The Journal of Political Economy 76, pp. 169.217. Becker, G. S. 1962. Irrational behavior and economic theory, Journal of Political Economy 70:1-13. Berg, Nathan & Gigerenzer, Gerd, 2010. "As-if behavioral economics: Neo- classical economics in disguise?," MPRA Paper 26586, University Library of Munich, Germany. The Methodology of Economics, or How Economists Explain, revised edition, 1993. Cambridge. Martin Browning and Pierre-André Chiappori: "E¢ cient Intra-Household Allocations: a General Characterization and Empirical Tests", Econometrica 66 (1998), p. 1241-1278 Camerer, Colin F. 1999. "Behavioral Economics: Reunifying Psychology and Economics." Proceedings of the National Academy of Sciences, 96, 10575-77. Edelman, Gerald (2004) Wider than the Sky. The Phenomenal Gift of Consciousness. Yale University Press. Ekeland, Ivar & Elster, Jon (2011) Théorie économique et rationalité, Vuibert - SPS 2011 Elster, Jon (1998) "Emotions and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 47-74, March. Elster, Jon (2009) Le désintéressement : Traité critique de l.homme économique, tome 1, 2009 Elster, Jon (2010) L'irrationalité : Traité critique de l.homme économique, tome 2, 2010 Farmer J. Doyne, Geanakopoulos John. «The virtues and vices of equilibrium and the future of financial economics » . arXiv:q-.n/0803.2996. Freud, S. The Interpretation of Dreams (Die Traumdeutung), 1899/1900 Friedman, M. (1953). Essays in positive economics. Chicago : University of Chicago Press. Glimcher P.W. (2003) Decisions, Uncertainty, and the Brain : The Science of Neuroeconomics, Cambridge, MIT Press. Gold J.I. and Schadlen M.N. (2000) "Representation of a perceptual decision in developing oculomotor commands", Nature, 404, p. 390-394. Gold J.I. and Schadlen M.N. (2001) "Neural computations that underlie decisions about sensory stimuli", Trends in Cognitive Science, 5, p. 10-16. Gosselin, P. Lotz,A. Wyplosz,C. When Central Banks Reveal Future Interest Rates: Alignment of Expectations Vs.Creative Opacity. International Journal of Central Banking Vol. 4 Nbr 3, 145 (2008) Gosselin, P. Lotz,A. Wyplosz,C. How Much Information should Interest Rate-Setting Central Banks Reveal ? NBER International Seminar on Macroeconomics, 8 (2007) The New Unconscious. Edited by Ran R. Hassin, James S. Uleman and John A. Bargh, Oxford Series in Social Cognition and Social Neuroscience). Oxford University Press. Hayek, Friedrich A. 1944. On Being an Economist, an address given to economics students at the London School of Economics in 1944, first published in The Trend of Economic Thinking: Essays on Political Economists and Economic History (vol. III of The Collected Works of F. A. Hayek), edited by W. W. Bartley and Stephen Kresge (Chicago: University of Chicago Press, 1991), pp. 35.48. James, W. (1890). Principles of Psychology (2 vols). New York. Holt Kahneman, D. E. and Tversky, A. 1979. .Prospect theory: An analysis of decision under risk., Econometrica 47: 263.91. Katona, G. 1951. Psychological Analysis of Economic Behavior. New York : McGraw-Hill. Keynes, J. M. 1936. The General Theory of Employment, Interest and Money. London : Macmillan Lea, S.E.G., Webley, P. & Young, B.M. (1992). (Eds). New Directions in Economic Psychology: theory, experiment and application. Cheltenham: Edward Elgar. Rick, Scott and Loewenstein, George F., The Role of Emotion in Economic Behavior (January 3, 2007). Lotz, Aïleen, An Economic Approach to the Self: The Dual Agent (April 11, 2011). Available at SSRN: http://ssrn.com/abstract=1798999 or http://dx.doi.org/10.2139/ssrn.1798999 Perlovsky, Leonid I. and Kozma, R. Neurodynamics of cognition and consciousness. Editors Understanding complex systems Springer: complexity. Springer Perlovsky, Leonid I. Neural Networks and Intellect: Using Model-Based Concepts, Oxford University Press Rabin, M. 2002. .A perspective on psychology and economics., European Economic Review 46: 657.85. Neuroeconomie, Christian Schmidt, Odile Jacob économie. Shiv, Baba, Loewenstein, George, Bechara, Antoine, Damasio, Hanna & Damasio, Antonio R. (2005). Investment behavior and the negative side of emotion, Psychological Science, 16(6), 435-439. Simon, Herbert A, 1986. "Rationality in Psychology and Economics," Journal of Business, University of Chicago Press, vol. 59(4), pages S209-24, October. Slutsky, E. E. (1915). "Sulla teoria del bilancio del consumatore". Giornale degli Economisti 51 (July): 1.26; Smith, A. 1759/2002. The Theory of Moral Sentiments, 6th edn, K. Haakonssen (ed.), Cambridge: Cambridge University Press. The Encyclopedia of Neuroscience. Editor: Larry R. Squire, Elsevier Science & Technology, 2006 Tarde, G. (1902). La psychologie économique (2 vols). Paris : Alcan. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/36697 |