thought as a rational process
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Thought as a Rational Thought as a Rational ProcessProcess
By: Matthew Hastedt
OutlineOutline
Study of economicsStudy of economics Economics as study of human Economics as study of human
behaviorbehavior Linear regression as thought processLinear regression as thought process Economic decisions about evolutionEconomic decisions about evolution
Thought and ComputationThought and Computation
The application of economic theory The application of economic theory as a part of thought as a rational as a part of thought as a rational
process.process.
The simple definition of economics The simple definition of economics is the study of how scarce is the study of how scarce
resources are utilized while resources are utilized while demands are unlimited. demands are unlimited.
Economic theory is grounded in Economic theory is grounded in assumptions of rational behavior, and assumptions of rational behavior, and theoretically constructed out of what theoretically constructed out of what
logically follows from assuming rational logically follows from assuming rational behavior (Cosmides and Tooby, 327).behavior (Cosmides and Tooby, 327).
Economic theory gains its specificity Economic theory gains its specificity by the addition of various variables by the addition of various variables
such as peoples preferences such as peoples preferences (Cosmides and Tooby, 327).(Cosmides and Tooby, 327).
Econometrics is a type of economics Econometrics is a type of economics that relies upon math analysis that relies upon math analysis particularly linear regressionparticularly linear regression
The likelihood of a person The likelihood of a person committing a crime can be broken committing a crime can be broken down to an equation. Crime= B0 + down to an equation. Crime= B0 +
B1 Wage + B2 Race + B3 OtherInc + B1 Wage + B2 Race + B3 OtherInc + B4 ProbCaught + B5 FreqArr + B6 B4 ProbCaught + B5 FreqArr + B6
FreqCon + B7 AvgSen + V FreqCon + B7 AvgSen + V
A similar concept to rationalizing out A similar concept to rationalizing out human thought is the rationalization human thought is the rationalization
of evolutionary decisions. of evolutionary decisions.
In the evolutionary sense to In the evolutionary sense to maximize ones utility one must maximize ones utility one must produce offspring to carry their produce offspring to carry their
genetic code. genetic code.
Evolution as a Rational Process
Utility DecisionsUtility Decisions
What is utility how is it measured?What is utility how is it measured? Cardinal VS OrdinalCardinal VS Ordinal
Types of evolutionary decisionsTypes of evolutionary decisionsHow many kids to haveHow many kids to haveLife goals/plansLife goals/plansPersonal preferencesPersonal preferences
ConclusionConclusion
Do people act rationally all the time?Do people act rationally all the time? How much of a problem is itHow much of a problem is it
Once behavior or thought can be Once behavior or thought can be taken down to a rational process and taken down to a rational process and can thus be reasoned out, it is then can thus be reasoned out, it is then possible to construct a program to possible to construct a program to compute compute
Work CitedWork Cited
Cosmides, Lenda and John Tooby. “Better than Cosmides, Lenda and John Tooby. “Better than Rational: Evolutionary Psychology and the Rational: Evolutionary Psychology and the Invisible Hand.” Invisible Hand.” The American Economic Review.The American Economic Review. Vol. 84.2 (1994) (pp 327-332). JSTOR. Fintel Vol. 84.2 (1994) (pp 327-332). JSTOR. Fintel Library, Roanoke College, Salem, VA. 19 Mar Library, Roanoke College, Salem, VA. 19 Mar 2006. <http://www.jstor.org/ 2006. <http://www.jstor.org/
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