Foundations of Rational Choice Under Risk - Hardcover

Anand, Paul

 
9780198233039: Foundations of Rational Choice Under Risk
Hardcover
ISBN 10: 0198233035 ISBN 13: 9780198233039
Publisher: Oxford University Press, 1993

Synopsis

Paul Anand describes and evaluates many existing criticisms of the formal theory of rationality and subjective expected utility (SEU) theory. He tests the logical and philosophical basis for basing rational choice on SEU and argues that, empirically, SEU is false, and that normatively, it imposes unnecessary constraints on rational agency. He provides his own account of rational choice which is grounded in the relationship between an agent's preference and his or her behavior. In addition, he discusses some of the radical methodological changes in economics that form the basis for theoretical developments in decision theory.

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About the Author


Paul Anand was a Research Fellow of Templeton College Oxford when the book was written and currently has affiliations to the Open University, Oxford and LSE.

Review

`The book provides useful references from the economic, psychological, philosophical and even mathematical literature ... stimulating and thought-provoking.'
Professor Machina, Journal of Economic Literature

`It is very clear that the author has given a lot of thought to the many aspects of the issues he addresses. Similarly, the book provides useful references from the economic, psychological, philosophical, and even mathematical literature.'
Journal of Economic Literature

`Shows an agreeable lack of fetish for technical and mathematical presentation, and will serve as a fairly accessible introduction to the area for philosophical readers unfamiliar with the terrain'
David Phillips, University of Houston, Philosophical Review

`This book offers, in nine chapters, a concise presentation and critical assessment of subjective expected utility (SEU) theory ... Anand's book highlights some difficult problems facing SEU accounts of rational choice, and outlines a reason-oriented alternative to those accounts.'
Mind

"About this title" may belong to another edition of this title.

Publisher
Oxford University Press
Publication date
1993
Language
English
ISBN 10 
0198233035
ISBN 13 
9780198233039
Binding
Hardcover
Number of pages
174

Other Popular Editions of the Same Title

9780198774426: Foundations of Rational Choice Under Risk

Featured Edition

ISBN 10:  0198774427 ISBN 13:  9780198774426
Publisher: Oxford University Press, 1995
Softcover