Economics Dictionary of ArgumentsHome
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| Rational choice: Rational choice in economics is the idea that individuals make decisions by weighing the costs and benefits of each option and choosing the option that they believe will maximize their own utility. Rational choice theory is based on the assumption that individuals are rational actors who are motivated by self-interest. See also Rationality, Utility, Benefit, Actions, Action theory._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Herbert A. Simon on Rational Choice - Dictionary of Arguments
Rawls I 418 Rational choice/H. A. Simon/Rawls: a rational person will normally not deliberate until he has the optimal plan, but will settle for a satisfactory plan (or partial plan) that satisfies various minimal conditions.(1) >Rationality, >Planning, >Bounded Rationality, >Decisions. 1. H. A. Simon, „A Behavioral Model of Rational Choice“, Quarterly Journal of Economics, vol. 69 (1955)._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
psySimn II Herbert A. Simon Models of Thought New Haven 1979 Simon I Herbert A. Simon The Sciences of the Artificial Cambridge, MA 1970 Rawl I J. Rawls A Theory of Justice: Original Edition Oxford 2005 |
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> Counter arguments against Simon
> Counter arguments in relation to Rational Choice
