## Rationality in Action: Contemporary ApproachesThis anthology is intended for advanced undergraduates and graduate students in such disciplines as philosophy, psychology, economics, and political science. It includes twenty-one selections falling under three main categories: individual decision theory; game theory and group decision-making; reasons, desires and intentionality. All the pieces have been published before in journals and have proven long term importance to theoretical work in rational action. The volume includes a general introduction on decision theory and a topical bibliography. |

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### Contents

Utility theory | 19 |

Historical and critical comments on utility | 41 |

Individual decision making under uncertainty | 55 |

Problems and revisions | 87 |

Risk ambiguity and the Savage axioms | 89 |

Criticism of the postulates and axioms of the American School | 113 |

Prospect theory an analysis of decision under risk | 140 |

Judgment under uncertainty heuristics and biases | 171 |

Maximization constrained the rationality of cooperation | 315 |

Impossibility theorems for social choice | 335 |

Values and collective decision making | 337 |

The impossibility of a Paretian libera | 354 |

Liberty and social choice | 360 |

Reasons desires and irrationality | 381 |

Reasons desires and values | 385 |

Internal and external reasons | 387 |

Alternative visions of rationality | 189 |

Newcombs problem and causal decision theory | 205 |

Newcombs problem and two principles of choice | 207 |

Causal decision theory | 235 |

Game theory and group decision making | 265 |

Games cooperation and the prisoners dilemma | 269 |

Advances in understanding rational behavior | 271 |

The emergence of cooperation among egoists | 294 |

The concept of rational action | 398 |

Rationality and valuation | 416 |

Irrationality | 447 |

20 Paradoxes of irrationality | 449 |

21 Rational dilemmas and rational supererogation | 465 |

481 | |

487 | |

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### Common terms and phrases

agent alternative assume assumption axiom beliefs cardinal utility causal decision theory chance choose collectively stable conception of rational condition consequences consider constrained maximization cooperation counterfactuals credence criterion decision maker decision problem decision theory dependency hypotheses desires discussion economic equilibrium points example expected utility expected value explain fact gambles game theory given implies indifferent individual interaction interpretation intrinsic intuitive irrational irrationality joint strategy judgment liberty lottery minimax moral neo-Bernoullian formulation Newcomb's non-cooperative non-cooperative games one's optimal option outcomes pair Paretian liberal Pareto principle partition payoff person player possible prediction Prisoner's Dilemma probabilistic probabilistically independent probability distribution problem proposition prospect theory prospects question rational action rational dilemma reason relevant risk risk seeking rule Savage second box situations social choice social choice theory subjective probability Suppose theorem thing tion tional Tversky uncertainty utility function utility theory valuations