Rational Choice

Overview

This book offers a rigorous, concise, and nontechnical introduction to some of the fundamental insights of rational choice theory. It draws on formal theories of microeconomics,
decision making, games, and social choice, and on ideas developed in philosophy, psychology, and sociology. Itzhak Gilboa argues that economic theory has provided a set of powerful models and broad insights that have changed the way we think about everyday life. He focuses on basic insights of the ...

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Rational Choice

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Overview

This book offers a rigorous, concise, and nontechnical introduction to some of the fundamental insights of rational choice theory. It draws on formal theories of microeconomics,
decision making, games, and social choice, and on ideas developed in philosophy, psychology, and sociology. Itzhak Gilboa argues that economic theory has provided a set of powerful models and broad insights that have changed the way we think about everyday life. He focuses on basic insights of the rational choice paradigm--the general conceptualization rather than a particular theory--that survive recent (and well-justified) critiques of economic theory's various failures. Gilboa explains the main concepts in language accessible to the nonspecialist, offering a nonmathematical guide to some of the main ideas developed in economic theory in the second half of the twentieth century.
Chapters cover feasibility and desirability, utility maximization, constrained optimization,
expected utility, probability and statistics, aggregation of preferences, games and equilibria, free markets, and rationality and emotions. Online appendixes offer additional material, including a survey of relevant mathematical concepts.

The MIT Press

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What People Are Saying

From the Publisher

"Gilboa's Rational Choice is a clear, comprehensive, and clever introduction to economic theory. The focus is on the concepts, not the mathematics. It introduces the reader to the tenets of the field, while incorporating insights from philosophy, psychology, and sociology."--Amanda Friedenberg, W.P. Carey School of Business, Arizona State
University

The MIT Press

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Product Details

  • ISBN-13: 9780262518055
  • Publisher: MIT Press
  • Publication date: 8/31/2012
  • Pages: 176
  • Sales rank: 1,004,250
  • Product dimensions: 5.60 (w) x 8.70 (h) x 0.50 (d)

Meet the Author

Itzhak Gilboa is Professor of Economics and Decision Sciences at HEC (École des Hautes Études
Commerciales), Paris, and Professor of Economics at Berglas School of Economics, Tel Aviv
University. He is the coauthor (with David Schmeidler) of Theory of Case-Based
Decisions
and the author of Theory of Decision under
Uncertainty
.
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