The rationality hypothesis—that people act to promote their interests—underlies most of economic theory and indeed economics as a whole. Economic policy revolves largely around the creation of ...

This paper examines an alternative microfoundation for the Phillips Curve by considering a possibility where price setters are constrained by the length of the time horizon over which they can form ...

Emotion, not rationality, rules our world – something policymakers should learn. So says David Brooks, who uses fiction to illustrate cognitive science It came from covering policy failures as a ...

Much has been written about the change of tone at City Hall this year: the marked increase in civility and decrease in drama. Equally welcome has been the distinct gravitation toward rationality and ...