Realistic Decision Theory: Rules for Nonideal Agents in Nonideal Circumstances
Within traditional decision theory, common decision principles -- e.g. the principle to maximize utility -- generally invoke idealization; they govern ideal agents in ideal circumstances. In Realistic Decision Theory, Paul Weirch adds practicality to decision theory by formulating principles applying to nonideal agents in nonideal circumstances, such as real people coping with complex decisions. Bridging the gap between normative demands and psychological resources, Realistic Decision Theory is essential reading for theorists seeking precise normative decision principles that acknowledge the limits and difficulties of human decision-making.
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7 Acceptabilitys Consequences
8 Realism about Situations
9 Applications to Game Theory
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act’s world adopt agent knows agent’s decision apply aspirational idealization assume assumption basic intrinsic beliefs and desires bounded rationality chapter cognitive limitations consider correct decision is rational decision principles decision problem decision procedure decision rule decision theory decision’s degrees of belief degrees of desire deliberation disposition estimate example expected utility analysis expected value explain extended acts fully rational game theory goal of maximizing goal of rationality higher-order ideal agents intrinsic attitudes intrinsic desire intrinsic utility irrational Matching Pennies maximize utility maximizes expected utility maximizing informed utility momentary acts n-tuples Nash equilibrium nonideal objective one’s option’s utility Pareto optimal preferences principle of utility principles of rationality priori probability and utility probability assignments proposition pursuit of incentives quantization rational agent rational choice rational decision realization reasons relevant restricted self-conditional utility self-supporting option Skyrms’s standards of rationality Suppose unacceptable mistakes utility assignments utility judgments utility maximization utility with respect Weirich yields