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Whose rationality? Years before the onset of modern behavioural economics, János Kornai provided an extensive critique of the descriptive accuracy and applied utility of rational choice theory in Anti-Equilibrium ( 1971 ). To do so, he

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This article combines a rational choice framework with an analysis of contemporary European Union institutions to elucidate the causes of Grexit and Brexit. It shows that the sustainability of the EU in part or whole in “normal” times depends on member compatibility and coercive adaptation. If members share the same values, including a common vision of transnational governance and a commitment to mutual support (solidarity), the EU should be able to stick together through thick and thin. If, on the contrary, members hold incompatible outlooks on the distribution of transnational powers and solidarity, then the EU will be vulnerable to dismemberment. The EU today is prone to disunion because its members no longer share a common view of mutually acceptable transnational government and policy; powerful members insist upon bending recalcitrant members to their will (coercive adaptation), and participants hold contradictory attitudes towards solidarity on a variety of issues. Winston Churchill and Robert Schuman in the late 1940s hoped that their post-war Europe project would be something more than a “single market”; that it would become the cornerstone of European peace. They appreciated the value of cooperative economy, but considered material benefits icing on the cake. Brexit and Grexit are best seen in this larger perspective underscoring the wisdom of conciliation.

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Recent enthusiasms have emphasised particularly ideas of “learning organisations”, calling attention both to the ways organisations learn and to the possibilities for improving organisational intelligence through increasing the rate and precision of learning. These enthusiasms have often encouraged the too easy assumption that learning processes necessarily lead to organisational improvement. The usefulness of learning as an instrument of organisational intelligence has to be demonstrated, not assumed. Adaptive processes such as learning are not guaranteed to reach or sustain a global maximum on an outcome surface. In order for proposals for “learning organisations” to be more than vague wishes for improvement, learning must be defined in terms of some specific process and the conditions under which that process does or does not lead to improvement must be established. This essay is built around six simple propositions, a kind of catechism for consideration of learning as an instrument of intelligence.

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Abstract

The potency of economic sanctions imposed on nations depends on demand and supply adjustment possibilities. Adverse GDP impacts will be maximal when import, export, production, distribution and finance are inflexible (universal non-substitution). This paper elaborates these conditions, and quantifies the maximum GDP loss that Western sanctions could have inflicted on Russia in 2022–2023. It reports the World Bank's predictions, contrasts them with results and draws inferences about the efficiency of Russia's workably competitive markets. The paper shows that Russia's economic system exhibits moderate universal substitutability and is less vulnerable to punitive discipline than Western policymakers suppose. The likelihood that the Kremlin will restore Ukraine's territorial integrity, ceteris paribus, is correspondingly low. The authors also observe that unintended adverse side effects from sanctions and counter-sanctions were excessive because policymakers chose to maximize GDP-damage to Russia instead of optimizing Western and third-party net benefits. Given moderate substitutability, Western policymakers can switch to smart net benefit maximizing sanctions that enhance Western and third-party welfare without significantly bolstering Russia's military industrial productivity and war-waging capabilities by retaining embargoes on weapons, technology and critical components, while selectively softening other restrictions. Smart sanctions might facilitate a negotiated settlement of the Russo–Ukrainian war.

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– Pesendorfer 2008 ). Of course, RPT and rational choice theory have been criticized for many years from various perspectives ( Sen 1973 , 1977 , 1993 ; Hausman 2008 , 2012 ; Herfeld 2020 ). Moreover, currently, there is no single and universal conception

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professionalization of service providers. The rapid expansion of research of the sharing economy is accompanied by the development of its theoretical foundation, e.g. rational choice theory, social exchange theory, labour process theory, or theory of planned behaviour

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theory related to Shefrin – Thaler (1988) . BLCH is characterised as a critical enrichment of LCH for factors of households’ savings. The BLCH model originates in psychology and replaces the rational choice assumed by earlier models with an effort of

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. ‒ Kliemt , H. ( 2011 ): Rational Choice Models in Economic Policy Advice . Jahrbuch für normative und institutionelle Grundfragen der Ökonomik , 10 : 243 ‒ 262

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47 68 Berger, J. — Offe, C. (1982): Functionalism vs. Rational Choice? Some Questions concerning the Rationality of Choosing One or the Other. Theory and Society 11(4): 521

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. Rosefield , S. ( 2016 ): Grexit and Brexit: Rational Choice, Compatibility and Coercive Adaptation . Acta Oeconomica , 66 ( S1 ): 79 – 93 . de Santis , R. – Favero , C

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