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Analogies and TheoriesFormal Models of Reasoning$
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Itzhak Gilboa, Larry Samuelson, and David Schmeidler

Print publication date: 2015

Print ISBN-13: 9780198738022

Published to Oxford Scholarship Online: May 2015

DOI: 10.1093/acprof:oso/9780198738022.001.0001

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Analogies and Theories

Analogies and Theories

The Role of Simplicity and the Emergence of Norms

Chapter:
(p.131) 5 Analogies and Theories
Source:
Analogies and Theories
Author(s):

Itzhak Gilboa

Larry Samuelson

David Schmeidler

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198738022.003.0005

This chapter first adapts the framework of the model of Gilboa, Samuelson, and Schmeidler (GSS, 2013, Chapter 3) and defines case-based and rule-based reasoning. It then deals with a purely exogenous process, showing that rule-based reasoning is likely to emerge in simple states of the world, but not in all states; followed by a purely endogenous process, showing that rule-based reasoning is more likely to emerge as the asymptotic mode of reasoning than case-based reasoning. The chapter concludes that rule-based reasoning is generally not sufficient to describe the way agents think about the world—neither at the outset nor asymptotically. All other things being equal, an endogenous process is more likely to give rise to convergence to rule-based reasoning than is an exogenous one.

Keywords:   rule-based reasoning, case-based reasoning, exogenous process, endogenous process, convergence

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