Resumo

The rationality factor has received attention from scientific research, since it integrates one of the eight epistemic dimensions (SERVA, 2017; LADRÓN DE GUEVARA CORTÉS; TOLOSA; ROJO, 2023). In this context, Popper (2013) advances in epistemological propositions by citing critical rationalism. Critical rationalism can be defined as scientific progress, which refutes outdated theories with theories that more satisfactorily cover the current context, in this way, every user experience that does not fit the current theory can be discussed and reformulated (FARIA, 2022).

In 1995, Charles Taylor (1995) began the chapter of the book entitled “Overcoming Epistemology” reporting that epistemology had already been felt with pride, however, it is currently in a degraded state. For the author, epistemology is based on the foundation enterprise, that is, the “service” of epistemology is to make knowledge valid, in this sense its usefulness is to provide/create tools to validate this knowledge. This connection between epistemology and the line of what is knowledge or not, is glimpsed through the rationalist perspective, which in turn was portrayed by Popper (2004).

In this panorama, the dichotomy of analysis of the phenomena glimpsed through epistemology is visualized. In the context of this work, the question presented about investor rationality is based on the question presented by Santos and Barros (2011) when they ask whether it is reason or emotion that determine the financial behavior of Brazilian investors. Santos e Barros (2011) also point out that it was possible to identify an excess of confidence on the part of the interviewees who judged that their ability to make rational investment decisions is greater than their peers.

According to Serva (2017), the study of epistemology within administration in Brazil began in the 1990s. However, research still emerges in 2023 that report the need to address and reinforce the research agenda that addresses epistemological discussions about the content and knowledge that is produced within the field of administration (ANDION, 2023). Why has the discussion on epistemology within management made little progress in over 30 years? For Silveira, Roazzi and Souza (2023) the answer to this question derives from another question: is management a science?

This research innovates and, in at least four respects, firstly because it is a pioneer mapping in relating investor rationality in the field of administration with the theme of epistemology. Second, for using two different protocols as a mapping method in the literature. Third, due to the proposal to advance on issues related to behavioral finance in the economy and development of a country. And finally, the fourth, for being concerned with demonstrating the lack of research that questions the rationality of the investor.

ALIYEV, N.; HE, X.-Z. Toward a General Model of Financial Markets. Understanding Complex Systems, [s. l.], p. 71–100, 2023. AMORIM, Eduardo Korilo Fleury de. Finanças comportamentais e sua aplicação no contexto brasileiro. [s. l.], 2019. Disponível em: https://bdm.unb.br/handle/10483/24894. Acesso em: 17 jun. 2023. ANDION, Carolina. Reflexões Epistemológicas e Sobre o Fazer Científico na Administração Contemporânea. Revista de Administração Contemporânea, [s. l.], v. 27, p. e230017, 2023.