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Bounded rationality

Philosophy Compass 2 (3):534–563 (2007)

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  1. The Diversity of Rational Choice Theory: A Review Note.Catherine Https://Orcidorg Herfeld - 2020 - Topoi 39 (2):329-347.
    In this paper, I review the literature on rational choice theory to scrutinize a number of criticisms that philosophers have voiced against its usefulness in economics. The paper has three goals: first, I argue that the debates about RCT have been characterized by disunity and confusion about the object under scrutiny, which calls into question the effectiveness of those criticisms. Second, I argue that RCT is not a single and unified choice theory—let alone an empirical theory of human behavior—as some (...)
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  • Rationality disputes – psychology and epistemology.Patrick Rysiew - 2008 - Philosophy Compass 3 (6):1153-1176.
    This paper reviews the largely psychological literature surrounding apparent failures of human rationality (sometimes referred to as 'the Rationality Wars') and locates it with respect to concepts and issues within more traditional epistemological inquiry. The goal is to bridge the gap between these two large and typically disconnected literatures – concerning rationality and the psychology of human reasoning, on the one hand, and epistemological theories of justified or rational belief, on the other – and to do so in such as (...)
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  • Magistrates, Mobs, and Moral Disagreement: Countering the Actual Disagreement Challenge to Moral Realism.Gregory Robson - 2021 - Canadian Journal of Philosophy 51 (6):416-435.
    I defend convergentist realism from counterarguments that appeal to apparently deep and widespread moral disagreement. Pace recent claims by antirealists, I first argue that scenarios such as the prominent “Magistrate and the Mob” case betray cognitive defects in subjects, such as partiality, that we would not find in ideal agents. After this, I defend three reasons to expect cross-cultural disagreement on moral cases even if convergentist realism is true. These defusing explanations concern individual and group moral development and the moral (...)
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  • Does the Counterfactual Theory of Explanation Apply to Non-Causal Explanations in Metaphysics?Alexander Reutlinger - 2016 - European Journal for Philosophy of Science:1-18.
    In the recent philosophy of explanation, a growing attention to and discussion of non-causal explanations has emerged, as there seem to be compelling examples of non-causal explanations in the sciences, in pure mathematics, and in metaphysics. I defend the claim that the counterfactual theory of explanation (CTE) captures the explanatory character of both non-causal scientific and metaphysical explanations. According to the CTE, scientific and metaphysical explanations are explanatory by virtue of revealing counterfactual dependencies between the explanandum and the explanans. I (...)
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  • Does the counterfactual theory of explanation apply to non-causal explanations in metaphysics?Alexander Reutlinger - 2017 - European Journal for Philosophy of Science 7 (2):239-256.
    In the recent philosophy of explanation, a growing attention to and discussion of non-causal explanations has emerged, as there seem to be compelling examples of non-causal explanations in the sciences, in pure mathematics, and in metaphysics. I defend the claim that the counterfactual theory of explanation captures the explanatory character of both non-causal scientific and metaphysical explanations. According to the CTE, scientific and metaphysical explanations are explanatory by virtue of revealing counterfactual dependencies between the explanandum and the explanans. I support (...)
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  • Re-assessing the Heuristics debate: Mark G. Kelman: The Heuristics Debate, Oxford University Press, Oxford, 2011.Andrea Polonioli - 2013 - Mind and Society 12 (2):263-271.
    Mark Kelman’s recent book, The Heuristics Debate , has two main goals. First, it seeks to reconstruct the controversy in decision science between Kahneman et al.’s heuristics-and-biases approach and Gigerenzer et al.’s fast-and-frugal heuristics approach. Second, it tries to discuss its implications for jurisprudence and policy-making. This study focuses on the first task only. The study attempts to show that, although HD has several important merits, its interpretation of the controversy misses some crucial aspects. Specifically, HD fails to appreciate that (...)
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  • Nonrational Belief Paradoxes as Byzantine Failures.Ryan Miller - 2022 - Logos and Episteme 13 (4):343-358.
    David Christensen and others argue that Dutch Strategies are more like peer disagreements than Dutch Books, and should not count against agents‘ conformity to ideal rationality. I review these arguments, then show that Dutch Books, Dutch Strategies, and peer disagreements are only possible in the case of what computer scientists call Byzantine Failures—uncorrected Byzantine Faults which update arbitrary values. Yet such Byzantine Failures make agents equally vulnerable to all three kinds of epistemic inconsistencies, so there is no principled basis for (...)
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  • Bounded emotionality and our doxastic norms.Winnie Ma - forthcoming - Inquiry: An Interdisciplinary Journal of Philosophy.
    In this paper I have two main aims. My first aim is to introduce the notion of bounded emotionality. This notion is the analogue of that of bounded rationality in behavioural economics. Bounded rationality says, roughly, that human beings are cognitively limited with respect to their processing and memory capacities. Bounded emotionality says that we are limited in our emotional capabilities, notably in the intensity, duration, and possible combinations of our emotional states. Bounded rationality is a foundational notion in behavioural (...)
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  • Which Methods Are Useful to Justify Public Policies? An Analysis of Cost–Benefit Analysis, Multi-Criteria Decision Analysis, and Non-Aggregate Indicator Systems.Gertrude Hirsch Hadorn - 2022 - Journal for General Philosophy of Science / Zeitschrift für Allgemeine Wissenschaftstheorie 53 (2):123-141.
    Science-based methods for assessing the practical rationality of a proposed public policy typically represent assumed future outcomes of policies and values attributed to these outcomes in an idealized, that is, intentionally distorted way and abstracted from aspects that are deemed irrelevant. Different types of methods do so in different ways. As a consequence, they instantiate the properties that result from abstraction and idealization such as conceptual simplicity versus complexity, or comprehensiveness versus selectivity of the values under consideration to different degrees. (...)
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  • Revisiting the criticisms of rational choice theories.Catherine Https://Orcidorg Herfeld - 2021 - Philosophy Compass 17 (1):e12774.
    Theories of rational choice are arguably the most prominent approaches to human behaviour in the social and behavioral sciences. At the same time, they have faced persistent criticism. In this paper, I revisit some of the core criticisms that have for a long time been levelled against them and discuss to what extent those criticisms are still effective, not only in light of recent advancements in the literature but also of the fact that there are different variants of rational choice (...)
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  • Introduction: methodologies of bounded rationality.Till Grüne-Yanoff, Caterina Marchionni & Ivan Moscati - 2014 - Journal of Economic Methodology 21 (4):325-342.
    The modelling of bounded rationality is currently pursued by approaches that exhibit a wide diversity of methodologies. This special issue collects five contributions that discuss different methodological aspects of these approaches. In our introduction, we map the variety of methodological positions with respect to three questions. First, what kinds of evidence do the respective approaches consider relevant for modelling bounded rationality? Second, what kind of modelling desiderata do the respective approaches focus on? And third, how do the respective approaches justify (...)
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  • Computer Simulations in Science.Eric Winsberg - forthcoming - Stanford Encyclopedia of Philosophy.