Beyond mainstream rationality: exploring feminist and behavioural economics

In the most current and adopted decision-making theory, the models used to understand agents' decisions, both consumers and producers, are mostly based on the same assumptions made by the neoclassical economists of utility maximisation and self-interest. Focusing on mathematical and statistical rigour, without considering different views, especially those influenced by gender.  These models, which are focused on the notions of rationality, self-interest and autonomy, are well described by a concept presented by Thomas Hobbes in the “mushroom man” analogy.  This idea assumes that individuals are like mushrooms. They emerge fully formed, immune to environmental influences, and interact in market mechanisms alone and only through rationality. As we can see, these models are based on strict rules, but are these assumptions on rationality always correct? Can other assumptions be incorporated to make these models more suitable for the real world by incorporating other views about the behaviour of the agents? This is the starting point of the thesis, in which, by using the theory of the feminist economy and smart behavioural economics, I will try to understand and highlight the limitations of these rigid models based on rationality. This thesis is divided into two main parts. In the first one, I introduce the key points regarding rationality highlighted by mainstream economics. Then, I present two currents of thinking that tried to modify these rigid models, behavioural economics and feminist economics, to understand how the role of rationality was built and has changed over the years and how people cope with it. After the introduction on the role of rationality, using feminist economics' critique of rationality-based models, I try to highlight which other behaviours and ways to make the analysis have to be included in the mainstream theory to have a more complete and less rigid framework to capture the decision-making process. In the second part of the thesis, using the introduction on the main concepts about rationality and the other variables that have to be included in the analysis, I will show an experiment to test which behaviours influence the decision-making process and how this behaviour changes based on personal characteristics. To do so, I will run an experiment using a survey as a data source, written using the strategic method to play interaction games without needing laboratory sessions. This thesis aims to analyse whether people are entirely rational and whether cooperation, kindness, trust or reciprocation play a role in decision-making.  Second, I want to find out if there is any correlation between some personal characteristics and the likelihood of certain types of behaviour.