Sour Grapes aims to subvert orthodox theories of rational choice through the study of forms of irrationality. Dr Elster begins with an analysis of the notation of rationality, to provide the background and terms for the subsequent discussions, which cover irrational behaviour, irrational desires and irrational belief. These essays continue and complement the arguments of Jon Elster's earlier book, Ulysses and the Sirens. That was published to wide acclaim, and Dr Elster shows the same versatility here in drawing on philosophy, (...) political and social theory, decision-theory, economics and psychology, as well as history and literature. (shrink)

Contemporary philosophers interested in value theory appear to be largely concerned with questions of the following sort:What is value?What is the meaning of the word ‘good’?Does the attribution of value to an object have a cognitive, or merely an emotive, significance?The first question is metaphysical; to ask it is analogous to asking in physics:What is matter?What is electricity?The others are generally treated as semantical questions; to ask them is analogous to asking in statistics:What is the meaning of the word ‘probable’?Does (...) an attribution of probability express an objective fact, or merely a subjective attitude? (shrink)

This is a new release of the original 1949 edition.

This book presents twenty essays by philosopher Nicholas Rescher, representing more than a decade of his work.

When John Harsanyi came to Stanford University as a candidate for the Ph.D., I asked him why he was bothering, since it was most un likely that he had anything to learn from us. He was already a known scho lar; in addition to some papers in economics, the first two papers in this vol ume had already been published and had dazzled me by their originality and their combination of philosophical insight and technical competence. However, I am very glad (...) I did not discourage him; whether he learned any thing worthwhile I don't know, but we all learned much from him on the foundations of the theory of games and specifically on the outcome of bar gaining. The central focus of Harsanyi's work has continued to be in the theory of games, but especially on the foundations and conceptual problems. The theory of games, properly understood, is a very broad approach to social interaction based on individually rational behavior, and it connects closely with fundamental methodological and substantive issues in social science and in ethics. An indication of the range of Harsanyi's interest in game the ory can be found in the first paper of Part B -though in fact his owncontri butions are much broader-and in the second paper the applications to the methodology of social science. The remaining papers in that section show more specifically the richness of game theory in specific applications. (shrink)

This paper examines the strengths and weaknesses of one of science's most pervasive and flexible metaprinciples;optimalityis used to explain utility maximization in economics, least effort principles in physics, entropy in chemistry, and survival of the fittest in biology. Fermat's principle of least time involves both teleological and causal considerations, two distinct modes of explanation resting on poorly understood psychological primitives. The rationality heuristic in economics provides an example from social science of the potential biases arising from the extreme flexibility of (...) optimality considerations, including selective search for confirming vidence, ex post rationalization, and the confusion of prediction with explanation. Commentators are asked to reflect on the extent to which optimality is an organizing principle of nature, a set of relatively unconnected techniques of science, a normative principle for rational choice and social organization, a metaphysical way of looking at the world, or something else still. (shrink)