Bounded Rationality And Politics

Author : Jonathan B. Bendor
Publisher : Univ of California Press
Page : 349 pages
File Size : 47,9 Mb
Release : 2010
Category : Business & Economics
ISBN : 9780520259461

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Bounded Rationality and Politics by Jonathan B. Bendor Pdf

"Bendor's Bounded Rationality and Politics provides an adept and illuminating critique of existing theories while also introducing new models and concepts that are sure to remain part of the conversation for generations to come. This book will reinvigorate the field of political science."--Daniel P. Carpenter, Harvard University "Bendor's scholarship is top drawer. Excellent. These essays are not only intellectually deep, but also engaging and powerful."--Scott Page, University of Michigan

Author : Bryan D. Jones
Publisher : University of Chicago Press
Page : 252 pages
File Size : 49,6 Mb
Release : 2001-05
Category : Business & Economics
ISBN : 0226406385

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Politics and the Architecture of Choice by Bryan D. Jones Pdf

Politics and the Architecture of Choice draws on work in political science, economics, cognitive science, and psychology to offer an innovative theory of how people and organizations adapt to change and why these adaptations don't always work. Our decision-making capabilities, Jones argues, are both rational and adaptive. But because our rationality is bounded and our adaptability limited, our actions are not based simply on objective information from our environments. Instead, we overemphasize some factors and neglect others, and our inherited limitations—such as short-term memory capacity—all act to affect our judgment. Jones shows how we compensate for and replicate these limitations in groups by linking the behavioral foundations of human nature to the operation of large-scale organizations in modern society. Situating his argument within the current debate over the rational choice model of human behavior, Jones argues that we should begin with rationality as a standard and then study the uniquely human ways in which we deviate from it.

Author : Sanjit Dhami,Cass R. Sunstein
Publisher : MIT Press
Page : 553 pages
File Size : 50,9 Mb
Release : 2022-07-12
Category : Business & Economics
ISBN : 9780262543705

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Bounded Rationality by Sanjit Dhami,Cass R. Sunstein Pdf

Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”

Author : Lauge N. Skovgaard Poulsen
Publisher : Cambridge University Press
Page : 263 pages
File Size : 42,8 Mb
Release : 2017-04-06
Category : Political Science
ISBN : 110755201X

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Bounded Rationality and Economic Diplomacy by Lauge N. Skovgaard Poulsen Pdf

Modern investment treaties give private arbitrators power to determine whether governments should pay compensation to foreign investors for a wide range of sovereign acts. In recent years, particularly developing countries have incurred significant liabilities from investment treaty arbitration, which begs the question why they signed the treaties in the first place. Through a comprehensive and timely analysis, this book shows that governments in developing countries typically overestimated the economic benefits of investment treaties and practically ignored their risks. Rooted in insights on bounded rationality from behavioural psychology and economics, the analysis highlights how policy-makers often relied on inferential shortcuts when assessing the implications of the treaties, which resulted in systematic deviations from fully rational behaviour. This not only sheds new light on one of the most controversial legal regimes underwriting economic globalization but also provides a novel theoretical account of the often irrational, yet predictable, nature of economic diplomacy.

Author : Kurt Weyland
Publisher : Princeton University Press
Page : 313 pages
File Size : 49,9 Mb
Release : 2009-02-09
Category : Political Science
ISBN : 9781400828067

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Bounded Rationality and Policy Diffusion by Kurt Weyland Pdf

Why do very different countries often emulate the same policy model? Two years after Ronald Reagan's income-tax simplification of 1986, Brazil adopted a similar reform even though it threatened to exacerbate income disparity and jeopardize state revenues. And Chile's pension privatization of the early 1980s has spread throughout Latin America and beyond even though many poor countries that have privatized their social security systems, including Bolivia and El Salvador, lack some of the preconditions necessary to do so successfully. In a major step beyond conventional rational-choice accounts of policy decision-making, this book demonstrates that bounded--not full--rationality drives the spread of innovations across countries. When seeking solutions to domestic problems, decision-makers often consider foreign models, sometimes promoted by development institutions like the World Bank. But, as Kurt Weyland argues, policymakers apply inferential shortcuts at the risk of distortions and biases. Through an in-depth analysis of pension and health reform in Bolivia, Brazil, Costa Rica, El Salvador, and Peru, Weyland demonstrates that decision-makers are captivated by neat, bold, cognitively available models. And rather than thoroughly assessing the costs and benefits of external models, they draw excessively firm conclusions from limited data and overextrapolate from spurts of success or failure. Indications of initial success can thus trigger an upsurge of policy diffusion.

Author : Graham Wallas
Publisher : Transaction Publishers
Page : 344 pages
File Size : 51,6 Mb
Release : 1920
Category : Political Science
ISBN : 1412825695

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Human Nature in Politics by Graham Wallas Pdf

If he had been pressed, Macaulay would probably have admitted that there are cases in which human acts and impulses to act occur independently of any idea of an end to be gained by them. If I have a piece of grit in my eye and ask some one to take it out with the corner of his handkerchief, I generally close the eye as soon as the handkerchief comes near, and always feel a strong impulse to do so. Nobody supposes that I close my eye because, after due consideration, I think it my interest to do so.

Author : Univ Of Chicago,Herbert A. Simon
Publisher : Mit Press
Page : 336 pages
File Size : 48,6 Mb
Release : 1997-07
Category : Business & Economics
ISBN : 0262519437

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Models of Bounded Rationality by Univ Of Chicago,Herbert A. Simon Pdf

Offering alternative models based on such concepts as satisficing(acceptance of viable choices that may not be the undiscoverableoptimum) and bounded rationality (the limited extent to which rationalcalculation can direct human behavior), Simon shows concretely whymore empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, isneeded.

Author : Gerd Gigerenzer,Reinhard Selten
Publisher : MIT Press
Page : 404 pages
File Size : 47,8 Mb
Release : 2002-07-26
Category : Business & Economics
ISBN : 0262571641

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Bounded Rationality by Gerd Gigerenzer,Reinhard Selten Pdf

In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning. This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart heuristics can exploit the structure of environments.

Author : Onno Bouwmeester
Publisher : Taylor & Francis
Page : 204 pages
File Size : 40,6 Mb
Release : 2017-03-16
Category : Business & Economics
ISBN : 9781317530763

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The Social Construction of Rationality by Onno Bouwmeester Pdf

There are many different forms of rationality. In current economic discourse the main focus is on instrumental rationality and optimizing, while organization scholars, behavioural economists and policy scientists focus more on bounded rationality and satisficing. The interplay with value rationality or expressive rationality is mainly discussed in philosophy and sociology, but never in an empirical way. This book shows that not one, but three different forms of rationality (subjective, social and instrumental) determine the final outcomes of strategic decisions executed by major organizations. Based on an argumentation analysis of six high-profile public debates, this book adds nuance to the concept of bounded rationality. The chapters show how it is socially constructed, and thus dependent on shared beliefs or knowledge, institutional context and personal interests. Three double case studies investigating the three rationalities illustrate how decision makers and stakeholders discuss the appropriateness of these rationalities for making decisions in different practice contexts. The first touches more on personal concerns, like wearing a niqab or looking at obscene art exposed in a public environment; the second investigates debates on improving the rights and position of specific minorities; and the third is based on the agreement on instrumental reasons for two kinds of investments, but the cost arguments are regarded less relevant when social norms or personal interests are violated. The Social Construction of Rationality is for those who study political economy, economic psychology and public policy, as well as economic theory and philosophy.

Author : Terry Nardin
Publisher : Routledge
Page : 275 pages
File Size : 45,8 Mb
Release : 2017-10-02
Category : Political Science
ISBN : 9781317376415

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Rationality in Politics and its Limits by Terry Nardin Pdf

The word ‘rationality’ and its cognates, like ‘reason’, have multiple contexts and connotations. Rational calculation can be contrasted with rational interpretation. There is the rationality of proof and of persuasion, of tradition and of the criticism of tradition. Rationalism (and rationalists) can be reasonable or unreasonable. Reason is sometimes distinguished from revelation, superstition, convention, prejudice, emotion, and chance, but all of these also involve reasoning. In politics, three views of rationality – economic, moral, and historical – have been especially important, often defining approaches to politics and political theory such as utilitarianism and rational choice theory. These approaches privilege positive or natural law, responsibilities, or human rights, and emphasize the importance of culture and tradition, and therefore meaning and context. This book explores the understanding of rationality in politics and the relations between different approaches to rationality. Among the topics considered are the limits of rationality, the role of imagination and emotion in politics, the meaning of political realism, the nature of political judgment, and the relationship between theory and practice. This book was originally published as a special issue of Global Discourse.

Author : R. Calvert
Publisher : Taylor & Francis
Page : 80 pages
File Size : 46,5 Mb
Release : 2013-06-17
Category : Business & Economics
ISBN : 9781136459764

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Models of Imperfect Information in Politics by R. Calvert Pdf

Surveys the models of political phenomena that incorporate imperfect information, concentrating on 'full-rationality' approaches as opposed to bounded rationality models.

Author : Ariel Rubinstein
Publisher : MIT Press
Page : 226 pages
File Size : 40,6 Mb
Release : 1998
Category : Business & Economics
ISBN : 0262681005

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Modeling Bounded Rationality by Ariel Rubinstein Pdf

The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions.In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response. The Zeuthen Lecture Book series is sponsored by the Institute of Economics at the University of Copenhagen.

Author : Jonathan Bendor,Daniel Diermeier,David A. Siegel,Michael M. Ting
Publisher : Princeton University Press
Page : 268 pages
File Size : 44,8 Mb
Release : 2011-02-06
Category : Business & Economics
ISBN : 9780691135076

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A Behavioral Theory of Elections by Jonathan Bendor,Daniel Diermeier,David A. Siegel,Michael M. Ting Pdf

Most theories of elections assume that voters and political actors are fully rational. This title provides a behavioral theory of elections based on the notion that all actors - politicians as well as voters - are only boundedly rational.

Author : Kristen R. Monroe,Kristen Renwick Monroe
Publisher : Addison Wesley Publishing Company
Page : 492 pages
File Size : 51,6 Mb
Release : 1991
Category : Business & Economics
ISBN : STANFORD:36105110689325

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The Economic Approach to Politics by Kristen R. Monroe,Kristen Renwick Monroe Pdf

Author : Riccardo Viale
Publisher : Routledge
Page : 681 pages
File Size : 51,7 Mb
Release : 2020-12-02
Category : Business & Economics
ISBN : 9781317330806

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Routledge Handbook of Bounded Rationality by Riccardo Viale Pdf

Herbert Simon’s renowned theory of bounded rationality is principally interested in cognitive constraints and environmental factors and influences which prevent people from thinking or behaving according to formal rationality. Simon’s theory has been expanded in numerous directions and taken up by various disciplines with an interest in how humans think and behave. This includes philosophy, psychology, neurocognitive sciences, economics, political science, sociology, management, and organization studies. The Routledge Handbook of Bounded Rationality draws together an international team of leading experts to survey the recent literature and the latest developments in these related fields. The chapters feature entries on key behavioural phenomena, including reasoning, judgement, decision making, uncertainty, risk, heuristics and biases, and fast and frugal heuristics. The text also examines current ideas such as fast and slow thinking, nudge, ecological rationality, evolutionary psychology, embodied cognition, and neurophilosophy. Overall, the volume serves to provide the most complete state-of-the-art collection on bounded rationality available. This book is essential reading for students and scholars of economics, psychology, neurocognitive sciences, political sciences, and philosophy.