David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Behavioral and Brain Sciences 26 (2):172-173 (2003)
Almost anyone seriously interested in decision theory will name John von Neumann's (1928) Minimax Theorem as its foundation, whereas Utility and Rationality are imagined to be the twin towers on which the theory rests. Yet, experimental results and real-life observations seldom support that expectation. Over two centuries ago, Hume (1739–40/1978) put his finger on the discrepancy. “Reason,” he wrote “is, and ought to be the slave of passions, and can never pretend to any other office than to serve and obey them.” In other words, effective means to reach specific goals can be prescribed, but not the goals. A wide range of experimental results and daily life behavior support this dictum.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Hans Lottenbach (1994). Expected Utility and Constrained Maximization: Problems of Compatibility. [REVIEW] Erkenntnis 41 (1):37 - 48.
Robin Pope (2000). Reconciliation with the Utility of Chance by Elaborated Outcomes Destroys the Axiomatic Basis of Expected Utility Theory. Theory and Decision 49 (3):223-234.
Paola Tubaro (2009). Is Individual Rationality Essential to Market Price Formation? The Contribution of Zero‐Intelligence Agent Trading Models. Journal of Economic Methodology 16 (1):1-19.
R. Duncan Luce & A. A. J. Marley (2000). On Elements of Chance. Theory and Decision 49 (2):97-126.
Reed Richter (1985). Rationality, Group Choice and Expected Utility. Synthese 63 (2):203 - 232.
Paul Weirich (2010). Utility and Framing. Synthese 176 (1):83 - 103.
Richard Watt, Francisco J. Vázquez & Ignacio Moreno (2001). An Experiment on Rational Insurance Decisions. Theory and Decision 51 (2/4):247-296.
Ulrich Schmidt (2001). Lottery Dependent Utility: A Reexamination. Theory and Decision 50 (1):35-58.
Giacomo Bonanno & Klaus Nehring (1998). On Stalnaker's Notion of Strong Rationalizability and Nash Equilibrium in Perfect Information Games. Theory and Decision 45 (3):291-295.
Ho-Chyuan Chen & William S. Neilson (1999). Pure-Strategy Equilibria with Non-Expected Utility Players. Theory and Decision 46 (2):201-212.
Added to index2009-01-28
Total downloads9 ( #173,767 of 1,410,209 )
Recent downloads (6 months)1 ( #155,456 of 1,410,209 )
How can I increase my downloads?