Hyper-Rational Choice and Economic Behaviour

Rational Choice Theory: An Overview

It seems easy to accept that rationality involves many features that cannot be summarized in terms of some straightforward formula, such as binary consistency.  However, this recognition does not immediately lead to alternative characterizations that might be regarded as satisfactory, even though the inadequacies of the traditional assumptions of rational behavior standard used in economic theo...

Rational Choice Theory: An Overview

It seems easy to accept that rationality involves many features that cannot be summarized in terms of some straightforward formula, such as binary consistency.  However, this recognition does not immediately lead to alternative characterizations that might be regarded as satisfactory, even though the inadequacies of the traditional assumptions of rational behavior standard used in economic theo...

Rational Choice Theory: A Cultural Reconsideration

Economists have heralded the formulation of the expected utility theorem as a universal method of choice under uncertainty. In their seminal paper, Stigler and Becker (Stigler & Becker, 1977) declared that “human behavior can be explained by a generalized calculus of utility-maximizing behavior” (p.76). The universality of the rational choice theory has been widely criticized by psychologists, ...

Interpretation and Rational Choice*

INTRODUCTION THE INTERPRETATION OF TEXTS AND OF BEHAVIOR is closely related to the rational choice explanation of action. In this article I try to bring out two aspects of that connection. I first ask whether we can enhance our understanding of a literary text by assuming the rationality of its creator. In novels, for instance, things often happen “for a reason”—be it a reason for the author, f...

Rational Choice and Sociology

Biology and Rational Choice

These are exciting times for those interested in the connection of biology to behavior. Consider the following findings that were reported in the first half of 2005 alone. Sexual foreplay for fruit flies is fairly predictable. A male first approaches a waiting female, bumps or taps her with his leg, rubs his wings in such a way as to make music, and then begins to lick her. The remarkable recen...