Eric Pacuit

Topics in Contemporary Philosophy: Rational Choice

PHIL 408R, Spring 2013

Rational choice theory, the core of the economic approach to human behavior, has become an influential approach in all of the social sciences. What makes individual actions rational? Rational choice theory offers a very simple answer: actions are rational if they reflect the maximizing of a consistent preference ordering. This theory, as it has been developed over many years, is now very detailed and complicated. One measure of the success of rational choice theory, perhaps, is for how long it has been able to withstand criticism. Recent developments, especially in behavioral economics, however, have succeeded in putting the standard model under pressure. In this course, we will present the theory of rational choice and also examine different objections to the standard model of rational choice.

Many of the topics discussed in this course are covered in my course Methods in Philosophy, Politics and Economics.