3min chapter

New Books in Philosophy cover image

Chrisoula Andreou, "Choosing Well: The Good, the Bad, and the Trivial" (Oxford UP, 2023)

New Books in Philosophy

CHAPTER

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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