Foundations Of Rational Choice

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Foundations of Rational Choice Under Risk

Author : Paul Anand
Publisher : Oxford University Press on Demand
ISBN 13 : 9780198774426
Total Pages : 161 pages
Book Rating : 4.7/5 (744 download)

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Book Synopsis Foundations of Rational Choice Under Risk by : Paul Anand

Download or read book Foundations of Rational Choice Under Risk written by Paul Anand and published by Oxford University Press on Demand. This book was released on 1995 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Paul Anand examines the normative interpretation of Subjective Expected Utility (SEU). He tests the philosophical and logical basis for associating SEU with rational choice. Decision theorists have increasingly come to accept the experimental evidence that subjects systematicallyviolate the axiomatic assumptions of SEU, and as a result the past decade has witnessed an explosion of mathematical models that seek to capture this behaviour. A current issue is whether axioms of SEU really are canons of rationality. Anand discusses whether the new decision-theoretic models aremore than just accounts of irrational behaviour. The main themes of the book are that, empirically, SEU is false, and that normatively it imposes unnecessary constraints on rational agency. Problems with Bayesianism are introduced and it is shown that useful distinctions between risk and uncertainty (in a Keynesian sense) can be made. Some of theradical methodological changes in economics that underpin theoretical developments in decision theory and economics are also discussed.

Thinking about Acting

Author : John L. Pollock
Publisher : Oxford University Press
ISBN 13 : 0199838860
Total Pages : 280 pages
Book Rating : 4.1/5 (998 download)

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Book Synopsis Thinking about Acting by : John L. Pollock

Download or read book Thinking about Acting written by John L. Pollock and published by Oxford University Press. This book was released on 2006-07-27 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Pollock aims to construct a theory of rational decision making for real agents--not ideal agents. Real agents have limited cognitive powers, but traditional theories of rationality have applied only to idealized agents that lack such constraints. Pollock argues that theories of ideal rationality are largely irrelevant to the decision making of real agents. Thinking about Acting aims to provide a theory of "real rationality."

Rational Choice and Situational Crime Prevention

Author : Graeme Newman
Publisher : Routledge
ISBN 13 : 1351906763
Total Pages : 261 pages
Book Rating : 4.3/5 (519 download)

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Book Synopsis Rational Choice and Situational Crime Prevention by : Graeme Newman

Download or read book Rational Choice and Situational Crime Prevention written by Graeme Newman and published by Routledge. This book was released on 2016-12-05 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of original papers examining the theoretical and philosophical bases of the perspective of situational crime prevention. Among issues examined are: the status of situational crime prevention as a theory; the theoretical traditions and context of SCP; the relationship of rational choice to SCP; utilitarianism and SCP; and the ethical./policy implications of SCP.

Rational Choice Theory and Organizational Theory

Author : Mary Zey
Publisher : SAGE
ISBN 13 : 9780803951365
Total Pages : 156 pages
Book Rating : 4.9/5 (513 download)

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Book Synopsis Rational Choice Theory and Organizational Theory by : Mary Zey

Download or read book Rational Choice Theory and Organizational Theory written by Mary Zey and published by SAGE. This book was released on 1998 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Rationalizing Capitalist Democracy

Author : S.M. Amadae
Publisher : University of Chicago Press
ISBN 13 : 0226016544
Total Pages : 414 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Rationalizing Capitalist Democracy by : S.M. Amadae

Download or read book Rationalizing Capitalist Democracy written by S.M. Amadae and published by University of Chicago Press. This book was released on 2003-10-15 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a fascinating biography of a foundational theory, Amadae reveals not only how the ideological battles of the Cold War shaped ideas but also how those ideas may today be undermining the very notion of individual liberty they were created to defend.

Rational Decisions

Author : Ken Binmore
Publisher : Princeton University Press
ISBN 13 : 1400833094
Total Pages : 214 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Rational Decisions by : Ken Binmore

Download or read book Rational Decisions written by Ken Binmore and published by Princeton University Press. This book was released on 2008-12-29 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to "look before you leap." If taken seriously, this view makes Bayesian decision theory inappropriate for the large worlds of scientific discovery and macroeconomic enterprise. When is it correct to use Bayesian decision theory--and when does it need to be modified? Using a minimum of mathematics, Rational Decisions clearly explains the foundations of Bayesian decision theory and shows why Savage restricted the theory's application to small worlds. The book is a wide-ranging exploration of standard theories of choice and belief under risk and uncertainty. Ken Binmore discusses the various philosophical attitudes related to the nature of probability and offers resolutions to paradoxes believed to hinder further progress. In arguing that the Bayesian approach to knowledge is inadequate in a large world, Binmore proposes an extension to Bayesian decision theory--allowing the idea of a mixed strategy in game theory to be expanded to a larger set of what Binmore refers to as "muddled" strategies. Written by one of the world's leading game theorists, Rational Decisions is the touchstone for anyone needing a concise, accessible, and expert view on Bayesian decision making.

The Handbook of Rational and Social Choice

Author : Paul Anand
Publisher : Oxford University Press
ISBN 13 : 0199290423
Total Pages : 592 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis The Handbook of Rational and Social Choice by : Paul Anand

Download or read book The Handbook of Rational and Social Choice written by Paul Anand and published by Oxford University Press. This book was released on 2009-01-15 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides an overview of issues arising in work on the foundations of decision theory and social choice. The collection will be of particular value to researchers in economics with interests in utility or welfare, but also to any social scientist or philosopher interested in theories of rationality or group decision-making.

The SAGE Handbook of Social Science Methodology

Author : William Outhwaite
Publisher : SAGE
ISBN 13 : 1446206459
Total Pages : 641 pages
Book Rating : 4.4/5 (462 download)

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Book Synopsis The SAGE Handbook of Social Science Methodology by : William Outhwaite

Download or read book The SAGE Handbook of Social Science Methodology written by William Outhwaite and published by SAGE. This book was released on 2007-10-18 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: "An excellent guidebook through different approaches to social science measurement, including the all-important route-maps that show us how to get there." - Roger Jowell, City University "In this wide-ranging collection of chapters, written by acknowledged experts in their fields, Outhwaite and Turner have brought together material in one volume which will provide an extremely important platform for consideration of the full range of contemporary analytical and methodological issues." - Charles Crothers, Auckland University of Technology This is a jewel among methods Handbooks, bringing together a formidable collection of international contributors to comment on every aspect of the various central issues, complications and controversies in the core methodological traditions. It is designed to meet the needs of those disciplinary and nondisciplinary problem-oriented social inquirers for a comprehensive overview of the methodological literature. The text is divided into 7 sections: Overviews of methodological approaches in the social sciences Cases, comparisons and theory Quantification and experiment Rationality, complexity and collectivity Interpretation, critique and postmodernity Discourse construction Engagement. Edited by two leading figures in the field, the Handbook is a landmark work in the field of research methods. More than just a ′cookbook′ that teaches readers how to master techniques, it will give social scientists in all disciplines an appreciation for the full range of methodological debates today, from the quantitative to the qualitative, giving them deeper and sharpen insights into their own research questions. It will generate debate, solutions and a series of questions for researchers to exploit and develop in their research and teaching.

The Rational Foundations of Ethics

Author : T. L. S. Sprigge
Publisher : Routledge
ISBN 13 : 1000072886
Total Pages : 353 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis The Rational Foundations of Ethics by : T. L. S. Sprigge

Download or read book The Rational Foundations of Ethics written by T. L. S. Sprigge and published by Routledge. This book was released on 2020-07-20 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1988, this landmark study develops its own positive account of the nature and foundations of moral judgement, while at the same time serving as a guide to the range of views on the matter which have been given in modern western philosophy. The book addresses itself to two main questions: Can moral judgements be true or false in that fundamental sense in which a true proposition is one which describes things as they really are? Are rational methods available in ethics which can be expected to produce convergence on shared moral views on the part of those who use them intelligently?

Understanding Contemporary Society

Author : Gary Browning
Publisher : SAGE
ISBN 13 : 9780761959267
Total Pages : 520 pages
Book Rating : 4.9/5 (592 download)

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Book Synopsis Understanding Contemporary Society by : Gary Browning

Download or read book Understanding Contemporary Society written by Gary Browning and published by SAGE. This book was released on 2000-02-11 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding Contemporary Society: Theories of the Present is a comprehensive textbook to guide students through the complexities of social theory today. Over 30 chapters, written by an international team of contributors, demonstrate clearly the practical applications of social theory in making sense of the modern world. Students are both introduced to the most significant theories and guided through the major social developments which shape our lives. Key features of the book are: clearly structured and readable prose; bullet pointed summaries and annotated further reading for each topic; makes complex issues accessible to undergraduates; focuses on relevance and practicality; chapter lay-out which is ideal for t

Choice, Preferences, and Procedures

Author : Kotaro Suzumura
Publisher : Harvard University Press
ISBN 13 : 0674727444
Total Pages : 806 pages
Book Rating : 4.6/5 (747 download)

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Book Synopsis Choice, Preferences, and Procedures by : Kotaro Suzumura

Download or read book Choice, Preferences, and Procedures written by Kotaro Suzumura and published by Harvard University Press. This book was released on 2016-06-06 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kotaro Suzumura is one of the world’s foremost thinkers in social choice theory and welfare economics. Bringing together essays that have become classics in the field, Choice, Preferences, and Procedures examines foundational issues of normative economics and collective decision making. Social choice theory seeks to critically assess and rationally design economic mechanisms for improving human life. An important part of Suzumura’s contribution over the past forty years has entailed fusion of abstract microeconomic ideas with an understanding of real-world economies in a coherent analysis. This volume of selected essays reveals the evolution of Suzumura’s thinking over his career. Groundbreaking papers explore the nature of individual and social choice and the idea of assigning value to freedom of choice, different forms of rationality, and concepts of individual rights, equity, and fairness. Suzumura elucidates his innovative approach for recognizing interpersonal comparisons in the vein of Adam Smith’s notion of sympathy and expounds the effect of paying due attention to nonconsequential features, such as the opportunity to choose and the procedure for decision making, along with the standard consequential features. Analyzing the role of economic competition, Suzumura points out how restricting competition may, in some circumstances, improve social welfare. This is not to recommend government regulation rather than market competition but to emphasize the importance of procedural features in a competitive context. He concludes with illuminating essays on the history of economic thought, focusing on the ideas of Vilfredo Pareto, Arthur Pigou, John Hicks, and Paul Samuelson.

Morality and Rational Choice

Author : J. Baron
Publisher : Springer Science & Business Media
ISBN 13 : 9780792322764
Total Pages : 226 pages
Book Rating : 4.3/5 (227 download)

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Book Synopsis Morality and Rational Choice by : J. Baron

Download or read book Morality and Rational Choice written by J. Baron and published by Springer Science & Business Media. This book was released on 1993-05-31 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops and defends a version of utilitarianism, including expected-utility theory, as a normative model of decision making. The defense, based on the idea of utility as achievement of goals, considers the endorsement of a norm as a decision and asks what reasons we have to endorse norms for decision making. The reasons derive from our pre-existing goals, so any norm we endorse must not fly in the face of these goals, although it must not be selfishly biased, either. This approach is further clarified by drawing distinctions between decisions for the self, for a single other person, for several others, and for the self and others. The book discusses the implications of this argument for the psychological study of decision making, the act--omission distinction, moral education, decision analysis, risk analysis, and other questions of public policy. The final chapter sketches a prescriptive approach to group decision making.

Beyond Optimizing

Author : Michael Slote
Publisher : Harvard University Press
ISBN 13 : 9780674069183
Total Pages : 220 pages
Book Rating : 4.0/5 (691 download)

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Book Synopsis Beyond Optimizing by : Michael Slote

Download or read book Beyond Optimizing written by Michael Slote and published by Harvard University Press. This book was released on 1989 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Philosophy, economics, and decision theory have long been dominated by the idea that rational choice consists of seeking or achieving one's own greatest good. Beyond Optimizing argues that our ordinary understanding of practical reason is more complex than this, and also that optimizing/maximizing views are inadequately supported by the considerations typically offered in their favor. Michael Slote challenges the long-dominant conception of individual rationality, which has to a large extent shaped the very way we think about the essential problems and nature of rationality, morality, and the relations between them. He contests the accepted view by appealing to a set of real-life examples, claiming that our intuitive reaction to these examples illustrates a significant and prevalent, if not always dominant, way of thinking. Slote argues that common sense recognizes that one can reach a point where "enough is enough," be satisfied with what one has, and, hence, rationally decline an optimizing alternative. He suggests that, in the light of common sense, optimizing behavior is often irrational. Thus, Slote is not merely describing an alternative mode of rationality; he is offering a rival theory. And the numerous parallels he points out between this common-sense theory of rationality and common-sense morality are then shown to have important implications for the long-standing disagreement between commonsense morality and utilitarian consequentialism. Beyond Optimizing is notable for its use of a much richer vocabulary of criticism than optimizing/maximizing models ever call upon. And it further argues that recent empirical investigations of the development of altruism and moral motivation need to be followed up by psychological studies of how moderation, and individual rationality more generally, take shape within developing individuals.

An Inquiry Into the Nature and Causes of the Wealth of Nations

Author : Adam Smith
Publisher :
ISBN 13 :
Total Pages : 522 pages
Book Rating : 4.:/5 (8 download)

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Book Synopsis An Inquiry Into the Nature and Causes of the Wealth of Nations by : Adam Smith

Download or read book An Inquiry Into the Nature and Causes of the Wealth of Nations written by Adam Smith and published by . This book was released on 1822 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Principles of Politics

Author : Joe Oppenheimer
Publisher : Cambridge University Press
ISBN 13 : 1107014883
Total Pages : 311 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Principles of Politics by : Joe Oppenheimer

Download or read book Principles of Politics written by Joe Oppenheimer and published by Cambridge University Press. This book was released on 2012-07-30 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the rational choice theories of collective action and social choice, applying them to problems of public policy and social justice. Joe Oppenheimer has crafted a basic survey of, and pedagogic guide to, the findings of public choice theory for political scientists. He describes the problems of collective action, institutional structures, regime change, and political leadership.

Rational Decisions in Organisations

Author : Frédéric Adam
Publisher : CRC Press
ISBN 13 : 1000543102
Total Pages : 245 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis Rational Decisions in Organisations by : Frédéric Adam

Download or read book Rational Decisions in Organisations written by Frédéric Adam and published by CRC Press. This book was released on 2022-05-30 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managers in organisations must make rational decisions. Rational decision making is the opposite of intuitive decision making. It is a strict procedure utilising objective knowledge and logic. It involves identifying the problem to solve, gathering facts, identifying options and outcomes, analysing them, considering all the relationships and selecting the decision. Rational decision making requires support: methods and software tools. The identification of the problem to solve needs methods that would measure and evaluate the current situation. Identification and evaluation of options and analysis of the available possibilities involves analysis and optimisation methods. Incorporating intuition into rational decision making needs adequate methods that would translate ideas or observed behaviours into hard data. Communication, observation and opinions recording is hardly possible today without adequate software. Information and data that form the input, intermediate variables and the output must be stored, managed and made accessible in a user-friendly manner. Rational Decisions in Organisations: Theoretical and Practical Aspects presents selected recent developments in the support of the widely understood rational decision making in organisations, illustrated through case studies. The book shows not only the variety of perspectives involved in decision making, but also the variety of domains where rational decision support systems are needed. The case studies present decision making by medical doctors, students and managers of various universities, IT project teams, construction companies, banks and small and large manufacturing companies. Covering the richness of relationships in which the decisions should and must be taken, the book illustrates how modern organisations operate in chains and networks; they have multiple responsibilities, including social, legal, business and ethical duties. Nowadays, managers in organisations can make transparent decisions and consider a multitude of stakeholders and their diverse features, incorporating diverse criteria, using multiple types and drivers of information and decision-making patterns, and referring to numerous lessons learned. As the book makes clear, the marriage of theoretical ideas with the possibilities offered by technology can make the decisions in organisations more rational and, at the same time, more human.

Rational Choice

Author : Itzhak Gilboa
Publisher : MIT Press
ISBN 13 : 0262518058
Total Pages : 177 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Rational Choice by : Itzhak Gilboa

Download or read book Rational Choice written by Itzhak Gilboa and published by MIT Press. This book was released on 2012-08-17 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.