Rational Decision Theory

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Theory of the rational choice ( English rational choice theory ; [ 'ræʃ (ə) nəl ˈtʃɔɪs θɪəɹi ]) is a collective name for different approaches of an action theory of the social sciences for the purpose of examining decisions made . Normative decision theory is based on the theory of rational decision and normative models.

General

In general, these approaches attribute rational behavior to acting subjects ( actors ) , whereby these subjects show a utility-maximizing (e.g. cost-minimizing) behavior due to certain preferences . While this behavioral assumption is dominant in economics , rational decision theory is one approach among others in other social sciences.

However, there have been observations "that often minimal changes in the way information is conveyed and slight variations in the decision-making context often lead to dramatic changes in decision-making behavior." This phenomenon, known as the framing effect , suggests that decisions are not always made purely rationally. It is viewed as an anomaly of the rational choice approach. From another perspective, too, the assumptions of the theory of rational decision have been criticized as being alien to reality. Today, therefore, the rational choice approach is hardly used as a theory in the epistemological sense, but rather as a heuristic , research program or paradigm.

Goal and method

The theories of the rational decision are based on the classical economics of Adam Smith , refer to Max Weber's program of an understanding sociology and the ideas of Hans Morgenthau . They try to grasp complex social actions using the simplest possible model assumptions .

In the early application of the rational choice approach, for example in political science by William H. Riker at the US University of Rochester , the intended goal was to find social laws that were universally valid and logical coherence, such as that of the Newtonian physics .

Modern representatives of the rational choice approach point to the advantages of the logical-deductive properties of mathematical models for rigorous theorizing. They also point to the advantages of the approach to generating causal explanations at the individual level. Based on the macro-micro-macro scheme , representatives of the theory of rational decision-making emphasize that social change does not take place according to strict laws. General laws can only be found at the level of human behavior. Only these human behavior constants, together with the respective boundary conditions of a social situation, enable predictions about the actions of the actors.

Explanatory models for the rational decision range from the classic homo economicus to the RREEMM model (Restricted Resourceful Expecting Evaluating Maximizing Man) of modern sociology . There is no agreement about the concept of rationality of the rational individual or about the weighting and development of preferences . Some authors merely assume that actors have transitive and fully known preferences . Still others make assumptions about the course of the utility functions . Furthermore, there is no agreement as to whether only objectively measurable quantities, e.g. B. money winnings, or whether subjective feelings, e.g. B. the joy of altruistic action, should be included as a benefit in the models. Objective values ​​increase the empirical testability of the theories. Subjective use makes the models more realistic, but carries the risk that practically every action can be explained by introducing further subjective preferences that are difficult or impossible to check. This means that the theory may lose one of its main advantages, the ability to derive hypotheses that are as precise as possible.

Applications from game theory to investigate the theory of rational decision are particularly the ultimatum games . Behavioral research also examines decision-making behavior that has an arbitrary effect and thus seems to contradict rational behavior.

Controversial points

While the theory of rational decision-making is an important paradigm in economics and in many models it is considered sufficient to be able to assume rational decision-making, the theory is controversially discussed in sociology, psychology and political science .

One of the main points of contention is the methodological individualism used ; It is debated whether social behavior and social laws can be determined by the behavior of many individual individuals, or whether social action has its own regularities.

A weaker version of this criticism accuses the approach of the rational decision to understand social problems structurally conditioned under complex.

On the other hand, the strong model character of the approach is criticized: There is empirical evidence that people only act rationally to a limited extent and that this is advantageous for those involved. Most theorists of rational decision-making admit this, but claim that rational utility maximization is a plausible basic assumption from which the models could be adapted to certain situations.

Well-known representatives

literature

Web links

Individual evidence

  1. ↑ a b c Volker Stocké : Framing and Rationality. the importance of the presentation of information for decision-making . Oldenbourg, Munich 2002, ISBN 3-486-56646-6 , p.  10 ( limited preview in Google Book search).
  2. ^ PM Driver, DA Humphries: Protean Behavior - The Biology of Unpredictability , 1988.
  3. ^ Dylan Evans (Ed. M. Pierre Cruse): Emotion, Evolution and Rationality. Oxford 2004.