Decisions, Reasons, and Rationality

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Intentions, Decisions and Rationality

Rational agents, as conceived in decision and game theory (see e.g. [Myerson, 1991] and [Osborne and Rubinstein, 1994]), are agents who choose the actions they believe to be the best means to achieve their preferred ends. But human beings are also planning agents. That is, we have the capacity to ‘settle in advance on more or less complex plans concerning the future, and then [let] these plans ...

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Most of us take it for granted that we ought to be rational—to have the bundle of dispositions and abilities that constitute the faculty of rationality. Most of us also take it for granted that we ought to satisfy various individual requirements of rationality: we ought not to believe it is Monday and also believe it is not Monday; we ought to intend to catch the 12.50, if we intend to get to a...

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Investment decisions, equivalent risk and bounded rationality

The Net Present Value maximizing model has a respectable ancestry and is considered by most scholars a theoretically sound decision model. In real-life applications, decision makers use the NPV rule, but apply a subjectively determined hurdle rate, as opposed to the “correct” opportunity cost of capital. According to a heuristics-and-biases-program approach, this implies that the hurdle-rate ru...

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Reason, Reasons, and Reasoning: A Constructivist Account of Human Rationality

The concept of rationality has its roots in a historic philosophical conception of human beings as creatures of reason. To act on the basis of reason is to act on the basis of reasons, which in turn implies a process of reasoning. An objectivist conception of rationality sees its essence as lying in the use of reasoning processes that conform to appropriate logical norms. A subjectivist concept...

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Factualism is a view about normative reasons. 2 A normative reason for acting is a consideration which favours performing an action, perhaps by revealing a respect in which so acting is good or right. A reason, so understood, can be pro tanto. A pro tanto reason has a weight and (so) can be weighed against or alongside other reasons. For example, that a new Coen brothers’ film is showing might ...

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ژورنال

عنوان ژورنال: Ethics

سال: 2008

ISSN: 0014-1704,1539-297X

DOI: 10.1086/592585