Rethinking Rational Choice Theory

Jan Jonge

Chapter VIII in Rethinking Rational Choice Theory, 2012, pp 117-127 from Palgrave Macmillan

Abstract: Abstract It is not unusual that a formal (thin) normative theory coexists with an empirical (thick) descriptive theory. What is exceptional is that the normative and the descriptive theory only coexist in one domain (the domain of personal exchange) and not in the other (the domain of market behaviour). And what is even more extraordinary is that these theories are said to correspond with different systems of reasoning and are represented in the brain. This specific configuration of a dual-system approach forces a rethinking of the recent developments of rational choice theory.

Keywords: Choice Behaviour; Social Phenomenon; Moral Theory; Ultimatum Game; Descriptive Theory (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230355545_9

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