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24.222

Decisions, Games and Rational Choice

3-0-9 units. HASS-H · Undergraduate

Foundations and philosophical applications of Bayesian decision theory, game theory and theory of collective choice. Why should degrees of belief be probabilities? Is it always rational to maximize expected utility? If so, why and what is its utility? What is a solution to a game? What does a game-theoretic solution concept such as Nash equilibrium say about how rational players will, or should, act in a game? How are the values and the actions of groups, institutions and societies related to the values and actions of the individuals that constitute them? Enrollment may be limited; preference to Course 24 majors and minors.

Spring 2008 · Decisions, Games, and Rational Choice

Foundations and philosophical applications of Bayesian decision theory, game theory and theory of collective choice. Why should degrees of belief be probabilities? Is it always rational to maximize expected utility? If so, why and what is its utility? What is a solution to a game? What does a game-theoretic solution concept such as Nash equilibrium say about how rational players will, or should, act in a game? How are the values and the actions of groups, institutions and societies related to the values and actions of the individuals that constitute them?

Readings

  • Resnik, Michael. Choices: An Introduction to Decision Theory . Minneapolis, MN: University of Minnesota Press, 1987. ISBN: 9780816614400.
    Listed reading
  • Jeffrey, Richard. The Logic of Decision . 2nd ed. Chicago, IL: University of Chicago Press, 1990. ISBN: 9780226395821.
    Listed reading
  • Schelling, Thomas. The Strategy of Conflict . Cambridge, MA: Harvard University Press, 2008. ISBN: 9780674840317.
    Listed reading
  • Joyce, James M. The Foundations of Causal Decision Theory . Cambridge, UK: Cambridge University Press, 1999. ISBN: 9780521641647.
    Listed reading
  • Leyton-Brown, Kevin, and Yoav Shoham. Essentials of Game Theory: A Concise, Multidisciplinary Introduction . San Rafael, CA: Morgan and Claypool Publishers, 2008. ISBN: 9781598295931.
    Listed reading
  • Buy at MIT Press Sen, Amartya K. Choice, Welfare, and Measurement . Cambridge, MA: MIT Press, 1982. ISBN: 9780262192149. ↗
    Listed reading
  • SES #: 2-10 · TOPICS: Preference, ignorance and risk · READINGS: Resnik, chapters 1-3
    Reading assignment
  • Resnik, chapter 4
    Listed reading
  • Sen, Amartya K. “Rational Fools: A Critique of the Behavioural Foundations of Economic Theory.” Philosophy and Public Affairs 6, no. 4 (Summer 1977): 317-344. Reprinted as chapter 4 in:
    Listed reading
  • Lewis, David. “Causal Decision Theory.” Australasian Journal of Philosophy 59, no. 1 (March 1981): 5-30.
    Listed reading
  • For those who want to explore causal decision theory in more depth, see Joyce, especially chapters 2-5.
    Listed reading
  • Resnik, chapter 5
    Listed reading
  • SES #: 20-26 · TOPICS: Defining social value in terms of individual value · READINGS: Resnik, chapter 6
    Reading assignment
  • Sen, Amartya K. “Rationality and Social Choice.” The American Economic Review 85, no. 1 (March 1995): 1-24.
    Listed reading
  • Gibbard, Allan. “Manipulation of Voting Schemes: A General Result.” Econometrica 41, no. 4 (July 1973): 587-601.
    Listed reading

Prerequisites & course information

Prereq: One philosophy subject or permission of instructor U (Spring) 3-0-9 units. HASS-H

Sources