Glossary of economics research
Results of search for rational follow:
rational:
An adjective. Has several definitions.:
(1) characterizing behavior that purposefully chooses means to achieve ends
(as in Landes, 1969/1993, p 21).
(2) characterizing preferences which are complete and transitive, and
therefore can be represented by a utility function (e.g. Mas-Coleil).
(3) characterizing a thought process based on reason; sane; logical. Can be
used in regard to behavior. (e.g. American Heritage
Dictionary, p 1028)
Contexts: phrases; modelling
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