On 1/21/2014 4:33 PM, Russell Standish wrote:
On Tue, Jan 21, 2014 at 02:32:23PM +1300, LizR wrote:
I am beginning to think that Russell is using a very narrow or perhaps
formal definition of rationality, in which case perhaps objections that
random (or unpredictable) behaviour can be rational don't fit it, even
though most people think that such actions are at times the most rational
choice.
Yes - of course it is the formal definition of rationality. Do you mean
there is some informal everyday use of the term that means something different?
"The culture surrounding economics fosters the belief that rationality implies
self-interest, outcome-orientation, and time-consistency. No such implication can be
supported. A rational agent draws conclusions logically from given premises, has premises
that are defensible by reasoned argument, and uses evidence dispassionately in evaluating
factual assertions."
--- Herbert Gintis, Game Theory Evolving
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