Abstract

BOUNDED RATIONALITY IN THE WORLD RISK SOCIETY. Rev.econ.inst. [online]. 2012, vol.14, n.26, pp.121-135. ISSN 0124-5996.

The economic theory of rational choice was accepted for decades as a general theory to explain human behaviour which other social sciences lack. This paper reviews some limitations of the former. Through cognitive psychology, the paper describes the cognitive biases of people when assessing data and making choices, which puts into question the idea that the human mind is programmed to follow the assumptions of rational choice. On the other hand, the increased risks in modern civilization (monetary, ecological, geopolitical) and their global character define our society as "the society of global risk". The author discusses the limits of our rationality in regard to making choices as a troubling issue for coping with increasing global risks.

Keywords : rational choice; risk society; cognitive biases.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )