Rationality‐in‐Relations

Hans Bernhard Schmid

American Journal of Economics and Sociology, 2003, vol. 62, issue 1, 67-101

Abstract: ABSTRACT . If in a game with multiple proper coordination equilibria there is a single one that is best for all participants, it is rational for each participant to choose the strategy that has the best equilibrium as one of its possible outcomes. This seems so obvious that any plausible theory of rationality should be expected to be applicable to such situations. However, this is not true for the “orthodox” theory of rational choice, as Robert Sugden has convincingly shown. In this paper, I shall argue that this failure is due to an implicit individualistic understanding of intentionality. John R. Searle's concept of collective intentionality (as put forth in his Construction of Social Reality) and his more recent theory of Rationality in Action provides important conceptual tools pertaining to a more comprehensive theory of rationality. The account I shall develop differs from Searle's own, as for reasons to be found in his overall project, Searle's departure from the orthodox view of rationality gets stuck half‐way.

Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/1536-7150.t01-1-00003

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:ajecsc:v:62:y:2003:i:1:p:67-101

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0002-9246

Access Statistics for this article

American Journal of Economics and Sociology is currently edited by Laurence S. Moss

More articles in American Journal of Economics and Sociology from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().