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Rationality, preference satisfaction and anomalous intentions: why rational choice theory is not self-defeating

Fumagalli, Roberto (2021) Rationality, preference satisfaction and anomalous intentions: why rational choice theory is not self-defeating. Theory and Decision, 91 (3). pp. 337-356. ISSN 0040-5833

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Identification Number: 10.1007/s11238-021-09801-8

Abstract

The critics of rational choice theory (henceforth, RCT) frequently claim that RCT is self-defeating in the sense that agents who abide by RCT’s prescriptions are less successful in satisfying their preferences than they would be if they abided by some normative theory of choice other than RCT. In this paper, I combine insights from philosophy of action, philosophy of mind and the normative foundations of RCT to rebut this often-made criticism. I then explicate the implications of my thesis for the wider philosophical debate concerning the normativity of RCT for both ideal agents who can form and revise their intentions instantly without cognitive costs and real-life agents who have limited control over the formation and the dynamics of their own intentions.

Item Type: Article
Official URL: https://www.springer.com/journal/11238
Additional Information: © 2021, The Author(s).
Divisions: Philosophy, Logic and Scientific Method
Subjects: B Philosophy. Psychology. Religion > BC Logic
H Social Sciences > HB Economic Theory
B Philosophy. Psychology. Religion > BF Psychology
Date Deposited: 14 Oct 2021 23:13
Last Modified: 20 Oct 2021 03:02
URI: http://eprints.lse.ac.uk/id/eprint/112446

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