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Rational Choice Theory Quotes & Sayings

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Top Rational Choice Theory Quotes

Rational Choice Theory Quotes By Stephen Hawking

Economics is also an effective theory, based on the notion of free will plus the assumption that people evaluate their possible alternative courses of action and choose the best. That effective theory is only moderately successful in predicting behavior because, as we all know, decisions are often not rational or are based on a defective analysis of the consequences of the choice. This is why the world is in such a mess. — Stephen Hawking

Rational Choice Theory Quotes By Larry Laudan

The rationale for accepting or rejecting any theory is thus fundamentally based on the idea of problem-solving progress. If one research tradition has solved more important problems than its rivals, then accepting that tradition is rational precisely to the degree that we are aiming to "progress," i.e., to maximize the scope f solved problems. In other words, the choice of one tradition over its rivals is a progressive (and thus a rational) choice precisely to the extent that the chosen tradition is a better problem solver than its rivals. — Larry Laudan

Rational Choice Theory Quotes By David Graeber

But if all maximizing models are really arguing is that "people will always seek to maximize something," then they obviously can't predict anything, which means employing them can hardly be said to make anthropology more scientific. All they really add to analysis is a set of assumptions about human nature. The assumption, most of all, that no one ever does anything primarily out of concern for others; that whatever one does, one is only trying to get something out of it for oneself. In common English, there is a word for this attitude. It's called "cynicism." Most of us try to avoid people who take it too much to heart. In economics, apparently, they call it "science. — David Graeber