Why the Realist-Instrumentalist Debate about Rational Choice Rests on a Mistake

In Uskali Mäki, Ioannis Votsis, Stéphanie Ruphy & Gerhard Schurz (eds.), Recent Developments in the Philosophy of Science: EPSA13 Helsinki. Heidelberg: Springer. pp. 99-109 (2015)
  Copy   BIBTEX

Abstract

Within the social sciences, much controversy exists about which status should be ascribed to the rationality assumption that forms the core of rational choice theories. Whilst realists argue that the rationality assumption is an empirical claim which describes real processes that cause individual action, instrumentalists maintain that it amounts to nothing more than an analytically set axiom or ‘as if’ hypothesis which helps in the generation of accurate predictions. In this paper, I argue that this realist-instrumentalist debate about rational choice theory can be overcome once it is realised that the rationality assumption is neither an empirical description nor an ‘as if’ hypothesis, but a normative claim.

Author's Profile

Christine Tiefensee
Frankfurt School of Finance & Management

Analytics

Added to PP
2019-02-05

Downloads
380 (#42,691)

6 months
80 (#50,767)

Historical graph of downloads since first upload
This graph includes both downloads from PhilArchive and clicks on external links on PhilPapers.
How can I increase my downloads?