Foundations of Rational Choice Under Risk
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Foundations of Rational Choice Under Risk by Paul Anand
The author describes and evaluates a number of existing criticisms of the formal theory of rationality and subjective expected utility theory. The latter rests on axioms that are usually regarded as principles of rationality; that is, principles that a rational person would never want to violate. The author claims that these axioms cannot be shown to be principles of rationality in this sense and provides his own axiomatic alternative account of rational choice. He finds that rationality is not a behavioural entity, but rather has to do with the relation between an agent's preferences and his or her behaviour. The book rejuvenates the old risk uncertainty distinction and draws together many of the critiques of the standard axioms such as transitivity and independence.| SKU | Unavailable |
| ISBN 13 | 9780198233039 |
| ISBN 10 | 0198233035 |
| Title | Foundations of Rational Choice Under Risk |
| Author | Paul Anand |
| Condition | Unavailable |
| Publisher | Oxford University Press |
| Year published | 1993-10-01 |
| Number of pages | 176 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |