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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David Gauthier on Rational Choice - Dictionary of Arguments
Gaus I 108 Rational Choce/Gauthier/Gaus: It might seem that Gauthier would think that it is always rational to become an unconstrained maximizer when others do so. >Contractualism/Gauthier. Not so. In Morals by Agreement Gauthier distinguished two dispositions to comply: broad and narrow (1986(1): 177ff, 225ff). Someone who is broadly compliant will comply with any agreement that benefits her; someone who is narrowly compliant will only comply with a fair and non-coercive agreement. As Gauthier sees it, it is not rational to become a broadly compliant person: you are asking people to take advantage of you, as you will honour any agreement you make regardless of how little you benefit. Gauthier originally defended a ‘minimax relative concession’ solution (1986(1): 226), but has since altered his views (1993(2): 178ff). Hobbesian accounts of justice thus seem dependent on some bargaining theory, and the complexities such theories involve (see Barry, 1989(3) Part I). Cf. >Hobbes/economic theories. 1. Gauthier, David (1986) Morals by Agreement. Oxford: Clarendon. 2. Gauthier, David (1993) ‘Uniting separate persons’. In David Gauthier and Robert Sugden, eds, Rationality, Justice and the Social Contract. New York: Harvester Wheatsheaf. 3. Barry, Brian (1989) Theories of Justice. Berkeley, CA: University of California Press. Gaus, Gerald F. 2004. „The Diversity of Comprehensive Liberalisms.“ In: Gaus, Gerald F. & Kukathas, Chandran 2004. Handbook of Political Theory. SAGE Publications._____________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. |
Gauthier, David Gaus I Gerald F. Gaus Chandran Kukathas Handbook of Political Theory London 2004 |
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