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Book Details :
Published on: 2012-05-29
Released on: 2012-05-29
Original language: English
Groups of people perform acts that are subject to standards of rationality. A committee may sensibly award fellowships, or may irrationally award them in violation of its own policies. A theory of collective rationality defines collective acts that are evaluable for rationality and formulates principles for their evaluation. This book argues that a group's act is evaluable for rationality if it is the products of acts its members fully control. It also argues that such an act is collectively rational if the acts of the group's members are rational. Efficiency is a goal of collective rationality, but not a requirement, except in cases where conditions are ideal for joint action and agents have rationally prepared for joint action.The people engaged in a game of strategy form a group, and the combination of their acts yields a collective act. If their collective act is rational, it constitutes a solution to their game. A theory of collective rationality yields principles concerning solutions to games. One principle requires that a solution constitute an equilibrium among the incentives of the agents in the game. In a cooperative game some agents are coalitions of individuals, and it may be impossible for all agents to pursue all incentives. Because rationality is attainable, the appropriate equilibrium standard for cooperative games requires that agents pursue only incentives that provide sufficient reasons to act. The book's theory of collective rationality supports an attainable equilibrium-standard for solutions to cooperative games and shows that its realization follows from individuals' rational acts.By extending the theory of rationality to groups, this book reveals the characteristics that make an act evaluable for rationality and the way rationality's evaluation of an act responds to the type of control its agent exercises over the act. The book's theory of collective rationality contributes to philosophical projects such as contractarian ethics and to practical projects such as the design of social institutions. Economics - Wikipedia Economics is the social science that analyzes the production distribution and consumption of goods and services. The term economics comes from the Ancient Greek ... economics facts information pictures Encyclopedia.com ... Decisions about resource allocation are made in their simplest form within the household in the familiar process of making ends meet or budgeting; the ... Functionalism - Anthropological Theories - Department of ... The guides to anthropological theories and approaches listed below have been prepared by graduate students of the University of Alabama under the direction of Dr ... Social Exchange Theory - Springer Much of social life involves interactions between individuals or corporate actors in dyads groups organizations or networks that can be viewed as social exchanges ... AgEcon Search: Items for Subject Date Title Author View/Download ; 8-Feb-2017 : Basis risk and welfare effect of weather index insurance for smallholders in China: Huo Ran; Octavio Ramirez Bounded rationality - Wikipedia Bounded rationality is the idea that when individuals make decisions their rationality is limited by the tractability of the decision problem the cognitive ... Some notes and solutions to Russell and Norvig's ... Some notes and solutions to Russell and Norvig's Artificial Intelligence: A Modern Approach (AIMA 3rd edition) Complex Economics: Individual and Collective Rationality ... Complex Economics: Individual and Collective Rationality (The Graz Schumpeter Lectures): 9780415568555: Economics Books @ Nash equilibrium - Wikipedia Nash Equilibrium; A solution concept in game theory: Relationship; Subset of: Rationalizability Epsilon-equilibrium Correlated equilibrium: Superset of 2015 ...
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