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"Rational choice"
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The Diversity of Rational Choice Theory: A Review Note
In this paper, I review the literature on rational choice theory (RCT) 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 critics seem to suppose. Rather, there are several variants of RCT used in economics. Third, I propose that we think of RCT as a set of distinct research strategies to appreciate its diversity. This account implies that the effectiveness of any criticism depends on the variant of RCT we are considering.
Journal Article
A behavioral approach to strategy-what's the alternative?
The strategy field has generally been viewed as somewhat fragmented with the primary 'fault line' stemming from the divide between economic and behavioral approaches. It is argued here that this is a false divide as any but the most trivial problems require a behavioral act of representation prior to invoking a deductive, 'rational' approach. In this sense, all approaches are behavioral. Once we recognize rationality as a process, then the pragmatic question becomes which among the imperfect mechanisms to guide choice and behavior may be more or less preferred. Such a viewpoint not only serves to help span the chasm of behavioral and economic approaches, but it may also connect the applied normative frameworks and approaches within the field to more theoretically grounded approaches.
Journal Article
Rational Decision Making as Performative Praxis: Explaining Rationality's Éternel Retour
Organizational theorists built their knowledge of decision making through a progressive critique of rational choice theory. Their positioning towards rationality, however, is at odds with the observation of rationality persistence in organizational life. This paper addresses this paradox. It proposes a new perspective on rationality that allows the theorizing of the production of rational decisions by organizations. To account for rationality's
éternel retour
, we approach rational decision making as performative praxis-a set of activities that contributes to turning rational choice theory into social reality. We develop a performative praxis framework that explains how theory, actors, and tools together produce rationality within organizations through three mechanisms: rationality conventionalization, rationality engineering, and rationality commodification. This framework offers new avenues of research on rational decision making and points to the factors that underlie the manufacture of rationality in organizations.
Journal Article
Moving Beyond Deterrence: The Effectiveness of Raising the Expected Utility of Abstaining from Terrorism in Israel
Rational choice approaches to reducing terrorist violence would suggest raising the costs of terrorism through punishment, thereby reducing the overall expected utility of terrorism. In this article, we argue that states should also consider raising the expected utility of abstaining from terrorism through rewards. We test effects of repressive (or punishing) and conciliatory (or rewarding) actions on terrorist behavior using the newly developed GATE-Israel dataset, which identifies events by Israeli state actors toward Palestinian targets on a full range of counterterrorism tactics and policies from 1987 to 2004. Results show that repressive actions are either unrelated to terror or related to subsequent increases in terror, and conciliatory actions are generally related to decreases in terror, depending on the tactical period. Findings also reveal the importance of understanding the role of terrorists' constituencies for reducing violence.
Journal Article
Preference, value, choice, and welfare
\"This book is about preferences, principally as they figure in economics. It also explores their uses in everyday language and action, how they are understood in psychology and how they figure in philosophical reflection on action and morality. The book clarifies and for the most part defends the way in which economists invoke preferences to explain, predict and assess behavior and outcomes. Hausman argues, however, that the predictions and explanations economists offer rely on theories of preference formation that are in need of further development, and he criticizes attempts to define welfare in terms of preferences and to define preferences in terms of choices or self-interest. The analysis clarifies the relations between rational choice theory and philosophical accounts of human action. The book also assembles the materials out of which models of preference formation and modification can be constructed, and it comments on how reason and emotion shape preferences\"-- Provided by publisher.
Book
Why do students from underprivileged families less often intend to study abroad?
Alongside the educational expansion and internationalisation of economies, it has become more important for students' labour market success to spend part of their studies abroad. However, only a fraction of German students studies abroad. In particular, students from underprivileged families refrain from doing so. While the social selectivity of international student mobility is well documented, the mechanisms underlying this pattern of inequality are insufficiently understood. Aiming to narrow this research gap, we examine an early stage of the process leading to international mobility and address the question why students from underprivileged families intend to study abroad less often. Applying theories of rational choice and cultural reproduction, we develop a theoretical framework that integrates several mechanisms explaining the observed social inequality. Using a nationally representative panel data set from the German School Leavers Survey, we estimate logistic regressions and effect decompositions. Our findings indicate that underprivileged students' lower likelihood of forming a study abroad intention partially results from previous life course events. Related to their previous educational decisions and experiences, underprivileged students have worse performance-related preconditions for studying abroad. Furthermore, their higher cost sensitivity and lower benefit expectation explain their reluctance to study abroad. (HRK / Abstract übernommen).
Journal Article