
Chrisoula Andreou, "Choosing Well: The Good, the Bad, and the Trivial" (Oxford UP, 2023)
New Books in Philosophy
The Problems With Rational Choice Theory
Traditional rational choice theory requires that the agent's preferences be acyclic free of loops or cycles and complete free of preference gaps. That requirement has been defended as a requirement of rationality based largely on the money pump argument. According to this, an agent with cyclic preferences is vulnerable to self-defeating patterns of choice in which she suffers a sure loss.
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