Patterns of rational default

Article Abstract:

The use of an options approach in pricing mortgages has been deemed inefficient in evaluating derivative assets. Conventional options pricing models merely focus on the probability and severity of defaults, without due consideration on distribution of severity, which is a better parameter for identifying the chances of default. To come up with an accurate assessment of mortgages and other asset-related trades, the likelihood of a default must be treated distinctly from the likely magnitude of such default.

Commercial Banks, Mortgage and Nonmortgage Loan Brokers, Consumer Mortgage Loans, Mortgages, Default (Finance)

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Rational injustice

Article Abstract:

The phenomenon of how an oppressive minority succeeds in controlling an oppressed majority is examined in an attempt to understand why this rational injustice continues to operate successfully. It is suggested that just institutions cannot be introduced without the cooperation of the privileged minority and as this appears unlikely to occur it appears rational for the oppressed majority to endure.

Oppression (Psychology)

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Unrealistic assumptions in rational choice theory

Article Abstract:

Use of rational choice models outside economics is doubted because they make unrealistic assumptions about individual behavior. It is argued that whether the falsity of assumptions influences a given model depends on which factors are explanatorily relevant, however, some modeling results in imperialistic applications are robust with respect to unrealistic assumptions.

Usage, Imperialism, Economic development models

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