Consistency, Choice, and Rationality


Book Description

In Consistency, Choice, and Rationality, economic theorists Walter Bossert and Kotaro Suzumura present a thorough mathematical treatment of Suzumura consistency, an alternative to established coherence properties such as transitivity, quasi-transitivity, or acyclicity. Applications in individual and social choice theory, fields important not only to economics but also to philosophy and political science, are discussed. Specifically, the authors explore topics such as rational choice and revealed preference theory, and collective decision making in an atemporal framework as well as in an intergenerational setting.




Choice, Rationality and Social Theory (RLE Social Theory)


Book Description

Choice, Rationality and Social Theory is a powerful rebuttal of the remarkably influential theories underlying 'rational choice analysis'. Rational choice analysis maintains that social life is principally to be explained as the outcome of rational choices on the part of individual actors. Adherents of this view include not only philosophers, political scientists and sociologists, but also prominent politicians in Western governments – notably of the United Kingdom and the United States. Rational choice analysis is said to be rigorous, capable of great technical sophistication, and able to generate powerful explanations on the basis of a few, relatively simple theoretical assumptions. Barry Hindess argues that the theory is seriously deficient, first, because there are important actors in the modern world other than human individuals, and second, because it says nothing about those processes of deliberation that play an important part in actors' decisions. The use of highly questionable assumptions about actors and their rationality has the effect of closing off important areas of intellectual inquiry and ignoring the reality of certain forms of thought and the social conditions on which they depend. These points are established through detailed examination of the concepts of the actor and of rationality – providing an overall argument that constitutes a serious challenge to any adherent of rational choice analysis.




Rationality and Dynamic Choice


Book Description

In this major contribution to the theory of rational choice the author sets out the foundations of rational choice, and then sketches a dynamic choice framework in which principles of ordering and independence follow from a number of apparently plausible conditions. However there is potential conflict among these conditions, and when they are weakened to avoid it, the usual foundations of rational choice no longer prevail. The thrust of the argument is to suggest that the theory of rational choice is less determinate than many suppose.




Rational Choice


Book Description

A nontechnical, concise, and rigorous introduction to the rational choice paradigm, focusing on basic insights applicable in fields ranging from economics to philosophy. This book offers a rigorous, concise, and nontechnical introduction to some of the fundamental insights of rational choice theory. It draws on formal theories of microeconomics, decision making, games, and social choice, and on ideas developed in philosophy, psychology, and sociology. Itzhak Gilboa argues that economic theory has provided a set of powerful models and broad insights that have changed the way we think about everyday life. He focuses on basic insights of the rational choice paradigm—the general conceptualization rather than a particular theory—that survive recent (and well-justified) critiques of economic theory's various failures. Gilboa explains the main concepts in language accessible to the nonspecialist, offering a nonmathematical guide to some of the main ideas developed in economic theory in the second half of the twentieth century. Chapters cover feasibility and desirability, utility maximization, constrained optimization, expected utility, probability and statistics, aggregation of preferences, games and equilibria, free markets, and rationality and emotions. Online appendixes offer additional material, including a survey of relevant mathematical concepts.




Rationality and Power


Book Description

In the Enlightenment tradition, rationality is considered well-defined. However, the author of this study argues that rationality is context-dependent, and that the crucial context is determined by decision-makers' political power. He uses a real-world Danish project to illustrate this theory.




Rational Choice, Collective Decisions, and Social Welfare


Book Description

An examination of the phenomenon of social cooperation failure, even amongst a group of rational individuals.




Rational Choice Theory and Organizational Theory


Book Description

Rational Choice Theory and Organizational Theory is written in response to the neo-classical economic rational choice theories and organizational economic theories which have emerged in the past decade and gained center stage in current organizational analysis.




Rational Choice in an Uncertain World


Book Description

In the Second Edition of Rational Choice in an Uncertain World the authors compare the basic principles of rationality with actual behaviour in making decisions. They describe theories and research findings from the field of judgment and decision making in a non-technical manner, using anecdotes as a teaching device. Intended as an introductory textbook for advanced undergraduate and graduate students, the material not only is of scholarly interest but is practical as well. The Second Edition includes: - more coverage on the role of emotions, happiness, and general well-being in decisions - a summary of the new research on the neuroscience of decision processes - more discussion of the adaptive value of (non-rational heuristics) - expansion of the graphics for decision trees, probability trees, and Venn diagrams.




Crooked Thinking or Straight Talk?


Book Description

Why can't we think straight about the big issues that face our society? Why are we taken in by the phony arguments of populists and scammers? Where are the philosophers hiding when we need them to tell us what makes sense? They are hiding because they have nothing to say. The airy-fairy answers offered by writers of footnotes to Plato were wrong two thousand years ago, and they are still wrong now. All this time, we should have been listening to a different but equally venerable branch of matter-of-fact philosophy pioneered by the much-maligned philosopher Epicurus. His ideas were suppressed in ancient times as heretical, but the development of the theory of games and decisions makes it timely for those of us who care about science to revive his style of thinking–not just about the world around us but about ourselves as well. The price of transferring our allegiance to Epicurus and his modern followers is that we can no longer enjoy the luxury of being told what we want to hear. It would be nice if we were really equipped with a hotline to a metaphysical world of transcendental ideals, but the truth is that we are just the flotsam left behind on the beach when the evolutionary tide went out, and we have to get real about what will and will not work for our imperfect species before it is too late. This book is an attempt to point the way. It has no equations and very little jargon; nor does it pull any punches, either in explaining how game theory works or in exposing the follies of famous metaphysicians.




The Handbook of Rational Choice Social Research


Book Description

The Handbook of Rational Choice Social Research offers the first comprehensive overview of how the rational choice paradigm can inform empirical research within the social sciences. This landmark collection highlights successful empirical applications across a broad array of disciplines, including sociology, political science, economics, history, and psychology. Taking on issues ranging from financial markets and terrorism to immigration, race relations, and emotions, and a huge variety of other phenomena, rational choice proves a useful tool for theory- driven social research. Each chapter uses a rational choice framework to elaborate on testable hypotheses and then apply this to empirical research, including experimental research, survey studies, ethnographies, and historical investigations. Useful to students and scholars across the social sciences, this handbook will reinvigorate discussions about the utility and versatility of the rational choice approach, its key assumptions, and tools.