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Rational Choice (Paperback)
Loot Price: R582
Discovery Miles 5 820
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Rational Choice (Paperback)
Series: The MIT Press
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Loot Price R582
Discovery Miles 5 820
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A nontechnical, concise, and rigorous introduction to the rational
choice paradigm, focusing on basic insights applicable in fields
ranging from economics to philosophy. This book offers a rigorous,
concise, and nontechnical introduction to some of the fundamental
insights of rational choice theory. It draws on formal theories of
microeconomics, decision making, games, and social choice, and on
ideas developed in philosophy, psychology, and sociology. Itzhak
Gilboa argues that economic theory has provided a set of powerful
models and broad insights that have changed the way we think about
everyday life. He focuses on basic insights of the rational choice
paradigm-the general conceptualization rather than a particular
theory-that survive recent (and well-justified) critiques of
economic theory's various failures. Gilboa explains the main
concepts in language accessible to the nonspecialist, offering a
nonmathematical guide to some of the main ideas developed in
economic theory in the second half of the twentieth century.
Chapters cover feasibility and desirability, utility maximization,
constrained optimization, expected utility, probability and
statistics, aggregation of preferences, games and equilibria, free
markets, and rationality and emotions. Online appendixes offer
additional material, including a survey of relevant mathematical
concepts.
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