Limits of Rationality

Name: Limits of Rationality
Price: 8.92 USD
Availability: InStock
ISBN: 9780226742397

ISBN-10: 0226742393

ISBN-13: 9780226742397

Edition: 1990

Authors: Karen Schweers Cook, Margaret Levi

List price: $59.00

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Description:

Prevailing economic theory presumes that agents act rationally when they make decisions, striving to maximize the efficient use of their resources. Psychology has repeatedly challenged the rational choice paradigm with persuasive evidence that people do not always make the optimal choice. Yet the paradigm has proven so successful a predictor that its usenbsp;continues to flourish, fueled by debate across the social sciences over why it works so well. Intended to introduce novices to rational choice theory, this accessible, interdisciplinary book collects writings by leading researchers. The Limits of Rationality illuminates the rational choice paradigm of social and political behavior…

Book details

List price: $59.00
Copyright year: 1990
Publisher: University of Chicago Press
Publication date: 11/15/1990
Binding: Paperback
Pages: 272
Size: 0.60" wide x 0.90" long x 0.10" tall
Weight: 1.298
Language: English

Acknowledgments Introduction: The Limits of Rationality Margaret Levi, Karen S. Cook, Jodi A. O'Brien, and Howard Faye Part 1 - The Theory of Rational Choice 1. When Rationality Fails John Elster Comment: What Might Rationality Fail to Do? Geoffrey Brennan 2. Rational Choice and the Framing of Decisions Amos Tversky and Daniel Kahneman 3. Choice Under Uncertainty: Problems Solved and Unsolved Mark J. Machina Comment: Should a Rational Agent Maximize Expected Utility? John Broome 4. Rational Choice in Experimental Markets Charles R. Plott Comment: Individual Decision Making versus Market-Level Predictions: The Applicability of Rational Choice Theory Karen S. Cook and Jodi A.…