Rationality

Flashcards for reviewing lecture notes on Rationality, covering topics such as Rational Choice Theory, Bounded Rationality, and the role of emotion in rationality.

What are the two main categories of actions to which rationality applies?

Inferences (drawing conclusions from evidence) and Decisions (choosing between options).

Name two uses for models of rationality.

Descriptive (to explain, understand, and predict behavior) and Normative (to determine and assess behavior).

What is Rational Choice Theory (RCT)?

A model of rationality where agents choose the action that best fulfils their aim by providing maximum net benefit (benefit - cost).

What is a key assumption of RCT regarding information and computing power?

Agents possess perfect information about the aim and the outcomes of possible actions, and have unlimited computing power.

What is a utility function in the context of RCT?

A representation of an agent's preferences, assigning a numerical value to each possible alternative, with higher values indicating stronger preferences.

What is a primary criticism of RCT regarding preferences?

RCT takes agents' preferences as given and does not explain how agents form them.

According to critics, what does RCT lack regarding non-rational behavior?

A strong concept of non-rational or irrational action, potentially making the theory explain everything and thus have less specific content.

What is bounded rationality theory?

A theory that recognizes the limitations humans face in terms of information, cognitive powers, and time, suggesting decision-making is less rigorous than RCT suggests.

What does 'satisfice' mean in the context of bounded rationality?

To seek solutions that are good enough, rather than optimal - a combination of 'satisfy' and 'suffice'.

What is a 'heuristic' in bounded rationality?

A context-dependent rule of thumb for reasoning and decision-making that is cheap and easy to implement while providing good enough results.

Describe the 'recognition heuristic'.

If you only recognize one alternative, infer that it has the higher value of the variable of interest.

Describe the 'take-the-best heuristic'.

Choose based on the highest-ranking criterion that discriminates between alternatives, ignoring all subsequent criteria.

What is a critique of bounded rationality?

Some actual human decision-making may be more rigorous than simple rules of thumb suggest and involves more calculation.

How does cognitivism view emotion in relation to rationality?

Rationality involves emotional responses to situations.

What are two functions of emotion in practical reasoning?

Motivational kick (setting goals, values, preferences) and short cut (identifying salient features of a situation).