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2 - The Theory of Choice

Published online by Cambridge University Press:  05 June 2012

Nolan McCarty
Affiliation:
Princeton University, New Jersey
Adam Meirowitz
Affiliation:
Princeton University, New Jersey
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Summary

Much of political game theory is predicated on the idea that people rationally pursue goals subject to constraints imposed by physical resources and the expected behavior of other actors. The assumption of rationality is often controversial. Indeed one of the most lively debates in the social sciences is the role of rationality and intentionality as a predictor of behavior. Nevertheless, we omit the debate between Homo economicus and Homo sociologicus and jump immediately into the classical model of rational choice.

For almost all of our purposes, it is sufficient to define rationality on a basis of two simple ideas:

  1. (1) Confronted with any two options, denoted x and y, a person can determine whether he does not prefer option x to option y, does not prefer y to x, or does not prefer either. When preferences satisfy this property, they are complete.

  2. (2) Confronted with three options x, y, and z, if a person does not prefer y to x and does not prefer z to y, then she must not prefer z to x. Preferences satisfying this property are transitive.

Roughly speaking, our working definition of rational behavior is behavior consistent with complete and transitive preferences. Sometimes we call such behavior thinly rational, as properties 1 and 2 contain little or no substantive content about human desires. Thin rationality contrasts with thick rationality whereby analysts specify concrete goals such as wealth, status, or fame.

Type
Chapter
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Political Game Theory
An Introduction
, pp. 6 - 26
Publisher: Cambridge University Press
Print publication year: 2007

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  • The Theory of Choice
  • Nolan McCarty, Princeton University, New Jersey, Adam Meirowitz, Princeton University, New Jersey
  • Book: Political Game Theory
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511813122.002
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  • The Theory of Choice
  • Nolan McCarty, Princeton University, New Jersey, Adam Meirowitz, Princeton University, New Jersey
  • Book: Political Game Theory
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511813122.002
Available formats
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Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The Theory of Choice
  • Nolan McCarty, Princeton University, New Jersey, Adam Meirowitz, Princeton University, New Jersey
  • Book: Political Game Theory
  • Online publication: 05 June 2012
  • Chapter DOI: https://doi.org/10.1017/CBO9780511813122.002
Available formats
×