Rationality in Society

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Contemporary theories of rational behavior in human society augment the orthodox model of rationality both by adding various forms of bounded rationality and relaxing the assumptions of self-interest and materialistic preferences. This entry discusses how these extensions of the theory of rational behavior are increasingly applied to explain rational behavior in society. First, the baseline model of rational behavior and its extensions are discussed, with particular emphasis on heuristics, learning theory and theories of social preferences. Subsequently, applications to rational behavior in societal realms are addressed. Three areas of application are discussed in particular, production of collective goods, social networks and rationality in organizations
Original languageEnglish
Title of host publicationInternational Encyclopedia of the Social & Behavioral Sciences
EditorsJames D. Wright
Edition2nd edition
ISBN (Electronic)978-0-08-097087-5
ISBN (Print)978-0-08-097086-8
Publication statusPublished - 2-Apr-2015

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