Author: Stephen DeCanio

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14 Aug

Posted at 21:29h in Selected Articles by

Abstract

Alexander Wendt’s Quantum Mind and Social Science is an effort to establish foundations of social science based on the ontology of modern physics. The quantum revolution has deservedly had repercussions in many sciences, but it is unwise to ground social science on physical theories, which are subject to constant revision. Additionally, despite its empirical success, there is no agreed-upon interpretation of quantum theory. Finally, even if there were,...

14 Aug

Posted at 20:03h in Selected Articles by

Abstract
 
Various potential strategic interactions between a “strong” Artificial intelligence (AI) and humans are analyzed using simple 2 × 2 order games, drawing on the New Periodic Table of those games developed by Robinson and Goforth (The topology of the 2 × 2 games: a new periodic table. Routledge, London, 2005). Strong risk aversion on the part of the human player(s) leads to shutting down the...

04 Jul

Posted at 14:54h in Selected Articles by

"Rational Expectations and Learning from Experience," Quarterly Journal of Economics Vol. 93, 1979

 

Introduction

The burgeoning literature employing or alluding to the concept of rational expectations in time-dependent economic processes is strangely vague regarding possible mechanisms by which the economic agents could actually achieve the hypothesized "rationality." Muth (1961) assumed that the formation of expectations according to his optimality criterion would have survival value in a...