In this book, Professor Kreps presents a first course on the basic models of choice theory that underlie much of economic theory. This course, taught for several years at the Graduate School of Business, Stanford University, gives the student an introduction to the axiomatic method of economic analysis, without placing too heavy a demand on mathematical sophistication.The course begins with the basics of choice and revealed preference theory and then discusses numerical representations of ordinal preference. Models with uncertainty come next: First is von Neumann–Morgenstern utility, and then choice under uncertainty with subjective uncertainty, using the formulation of Anscombe and Aumann, and then sketching the development of Savage's classic theory. Finally, the course delves into a number of special topics, including de Finetti's theorem, modeling choice on a part of a larger problem, dynamic choice, and the empirical evidence against the classic models.
Rational Choice Theory and Religion considers one of the major developments in the social scientific paradigms that promises to foster a greater theoretical unity among the disciplines of sociology, political science, economics and psychology. Applying the theory of rational choice--the theory that each individual will make her choice to maximize gain and minimize cost--to the study of religion, Lawrence Young has brought together a group of internationally renowned scholars to examine this important development within the field of religion for the first time.
Release on 1976-05-20 | by Anthony Heath,Linda Ed. Heath
A Critique of Exchange Theory
Author: Anthony Heath,Linda Ed. Heath
Pubpsher: CUP Archive
Category: Political Science
This 1976 book provides a systematic exposition of the principle components of exchange theory, and goes on to give a critique of these theories, paying particular attention to the success of their empirical applications. It concludes that exchange theory has an important part to play in the development of social science.
The third volume of Arrow's Collected Papers concerns the basic concept of rationality as it applies to an economic decision maker. In particular, it addresses the problem of choice faced by consumers in a multicommodity world and presents specific models of choice useful in economic analysis. It also discusses choice models under uncertainty.