Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/49983 
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dc.contributor.authorCongleton, Roger D.en
dc.date.accessioned2011-09-28-
dc.date.accessioned2011-09-29T09:06:10Z-
dc.date.available2011-09-29T09:06:10Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/49983-
dc.description.abstractThis paper provides a rational choice-based analysis of the causes and consequences of surprise events. The paper argues that ignorance may be rational, but nonetheless produce systematic mistakes, inconsistent behavior, and both pleasant and unpleasant surprises. If ignorance and unpleasant surprises are commonplace and relevant for individual and group decisionmaking, we should observe standing institutions for dealing with them - and we do. Insofar as surprises are consistent with rational choice models, but left outside most models, it can be argued that these methodological choices mistakenly limit the scope of rational choicebased research.en
dc.language.isoengen
dc.publisher|aWestfälische Wilhelms-Universität Münster, Centrum für Interdisziplinäre Wirtschaftsforschung (CIW) |cMünsteren
dc.relation.ispartofseries|aCIW Discussion Paper |x6/2011en
dc.subject.jelD8en
dc.subject.jelD6en
dc.subject.ddc330en
dc.subject.keywordIgnoranceen
dc.subject.keywordRational Ignoranceen
dc.subject.keywordNatural Ignoranceen
dc.subject.keywordBounded Rationalityen
dc.subject.keywordRational Choiceen
dc.subject.keywordBiased Expectationsen
dc.subject.keywordCrisis Managementen
dc.subject.keywordSocial Insuranceen
dc.subject.keywordBailoutsen
dc.subject.keywordEconomics of Informationen
dc.titleCoping with unpleasant surprises in a complex world: Is rational choice possible in a world with positive information costs?-
dc.typeWorking Paperen
dc.identifier.ppn669035424en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ciwdps:62011en

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