Nobel Talk Robert J. Aumann

Robert J. Aumann, 2005 Nobel Prize Laureate in Economics, will present a conference on "Rule-rationality: a synthesis of behavioral and mainstream economics". Rule-rationality is a paradigm according to which people do not maximize utility in each of their acts, but rather follow rules or modes of behavior that usually-but not always-maximize utility, providing a synthesis between rationalistic neo-classical economic theory and behavioral economics.

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