Since it is hard to see how subjective rationality could be normative, a humbler, purely evaluative account of rationality’s importance has been suggested: rationality is a non-moral virtue, and rational action is good so far as it reveals that an agent ‘functions well’. This paper argues, however, that even this fallback position is threatened by ‘eccentric billionaire’ scenarios: sometimes, flouting purported coherence standards of rationality is maximally virtuous. In defense of the virtue account, I argue that a novel view of (...) rational constraints is called for: rationality requires a certain form of higher-order coherence – as considerations about instrumental coherence can show. (shrink)