Abstract
Abstract The constructed concept of rationality (in its various versions) embodied in neo-classical economic models primarily characterizes the choices or actions of an ‘individual economic agent’. General equilibria with rational or ‘optimal’ properties are then the result of such choices by all of the individual agents in a given model. It seems reasonable therefore to begin our investigation by examining these individual agents. If problems arise in the interpretation of these agents, such problems would necessarily affect the neo classical constructed concept of rationality at its roots and cause difficulties in turn for ‘optimality’ claims concerning the general equilibria which are wholly built up out of the choices or actions of the individual agents.
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