final- rational choice theory

Question 1

define utilitarianism

Answer 1

• theory of morality that advocates actions that foster happiness and oppose actions that cause unhappiness
• aims for the betterment of society as a whole

Question 2

what is classical rationality and classical rational choice theory

Answer 2

• classical rationality: people can be objectively rational. we can weigh evidence and make decisions using universal decision-making criteria. (criteria: maximizing pleasure or value while minimizing pain or loss; a decision is irrational if it doesn’t maximize value and reduce loss)
• rational choice theory: the theory that human behavior (especially decision-making)
  can be explained in terms of individual actions driven by conscious choices based on
  preferences. It uses a market metaphor of economic exchange. (aka: social exchange
  theory, game theory, and rational actor theory)

Question 3

appeals of RCT

Answer 3

1. Human-centered: preserves human agency (our capacity for self-realization and
   conscious construction of the world according to our highest ideals);
2. The Enlightenment: “philosophy of hope and individual freedom through reasoned
   discourse is a ‘useful myth’ (Monroe and Maher, pg 4).”
3. Democracy: rule by the unordained (i.e. anyone not chosen by God, like a priest or
   king) is preferable to authoritarian rule only if:
   ○ People have the capacity to make rational (utilitarian) decisions.
   ○ Their power is kept in check by reasoned discourse (i.e. they do not become
   tyrants/despots/authoritarians themselves).
   ○ That discourse enlists a realist/objective view of the world (i.e. is based on truth

Question 4

What is Elster’s (“Modern”) Rationality and Rational Choice Theory

Answer 4

• modern rationality: people are rational with respect to their own beliefs and values. they are not objective, but they are generally consistent.
• a decision is irrational if it violates the individuals beliefs or values
• a rational decision can still produce a suboptimal outcome
• rational means can lead to flawed outcomes since one can be rational with inaccurate beliefs or flawed values

Question 5

What is Prisoner’s Dilemma?

Answer 5

• two prisoners are arrested for a minor crime but suspected of a major crime. police have no evidence and they need a confession.
• if both prisoners stay silent, then they both do 6 months for the minor crime
• if one talks then that person does no time and the other does 10 years
• if both talk, they both do 5 years
• unsure of what the other person will do, it is individually rational for each person to talk
• even a strict adherence to individually rational actions can be irrational for group behavior

Question 6

What is the Tragedy of the Commons?

Answer 6

• a limited a shared resource would be maximized if everyone took only their fair share
• if you expect your neighbor to take more than their fair share, then you have reason to take more than your fair share first.
• this resource is quickly exhausted and everyone suffers
• purely self-interested actors ruin a shared system