1. Thought as a Rational Process By: Matthew Hastedt

2. Outline Study of economics Study of economics Economics as study of human behavior Economics as study of human behavior Linear regression as thought process Linear regression as thought process Economic decisions about evolution Economic decisions about evolution

3. Thought and Computation The application of economic theory as a part of thought as a rational process. The application of economic theory as a part of thought as a rational process. The simple definition of economics is the study of how scarce resources are utilized while demands are unlimited. The simple definition of economics is the study of how scarce resources are utilized while demands are unlimited.

4. Economic theory is grounded in assumptions of rational behavior, and theoretically constructed out of what logically follows from assuming rational behavior (Cosmides and Tooby, 327). Economic theory gains its specificity by the addition of various variables such as peoples preferences (Cosmides and Tooby, 327).

5. Econometrics is a type of economics that relies upon math analysis particularly linear regression Econometrics is a type of economics that relies upon math analysis particularly linear regression The likelihood of a person committing a crime can be broken down to an equation. Crime= B0 + B1 Wage + B2 Race + B3 OtherInc + B4 ProbCaught + B5 FreqArr + B6 FreqCon + B7 AvgSen + V The likelihood of a person committing a crime can be broken down to an equation. Crime= B0 + B1 Wage + B2 Race + B3 OtherInc + B4 ProbCaught + B5 FreqArr + B6 FreqCon + B7 AvgSen + V

6. A similar concept to rationalizing out human thought is the rationalization of evolutionary decisions. A similar concept to rationalizing out human thought is the rationalization of evolutionary decisions. In the evolutionary sense to maximize ones utility one must produce offspring to carry their genetic code. In the evolutionary sense to maximize ones utility one must produce offspring to carry their genetic code. Evolution as a Rational Process

7. Utility Decisions What is utility how is it measured? What is utility how is it measured? Cardinal VS Ordinal Cardinal VS Ordinal Types of evolutionary decisions Types of evolutionary decisions How many kids to have How many kids to have Life goals/plans Life goals/plans Personal preferences Personal preferences

8. Conclusion Do people act rationally all the time? Do people act rationally all the time? How much of a problem is it How much of a problem is it Once behavior or thought can be taken down to a rational process and can thus be reasoned out, it is then possible to construct a program to compute Once behavior or thought can be taken down to a rational process and can thus be reasoned out, it is then possible to construct a program to compute

9. Work Cited Cosmides, Lenda and John Tooby. “Better than Rational: Evolutionary Psychology and the Invisible Hand.” The American Economic Review. Vol. 84.2 (1994) (pp 327-332). JSTOR. Fintel Library, Roanoke College, Salem, VA. 19 Mar 2006. <http://www.jstor.org/ Cosmides, Lenda and John Tooby. “Better than Rational: Evolutionary Psychology and the Invisible Hand.” The American Economic Review. Vol. 84.2 (1994) (pp 327-332). JSTOR. Fintel Library, Roanoke College, Salem, VA. 19 Mar 2006. <http://www.jstor.org/