Work of the Fellows: Monographs

Rationality and Dynamic Choice: Foundational Explorations

McClennen, Edward F. (Fellow, 1986-87)

Cambridge, UK: Cambridge University Press, 1990

From the publisher's description:

In this major contribution to the theory of rational choice the author sets out the foundations of rational choice, and then sketches a dynamic choice framework in which principles of ordering and independence follow from a number of apparently plausible conditions. However there is potential conflict among these conditions, and when they are weakened to avoid it, the usual foundations of rational choice no longer prevail. The thrust of the argument is to suggest that the theory of rational choice is less determinate than many suppose.

Subjects: Philosophy; Dynamic Choice; Decision Theory; Epistemology; Rational Choice Theory