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Compliance: Maximization Constrained

David Gauthier

in Morals by Agreement

Published in print:
1987
Published Online:
November 2003
ISBN:
9780198249924
eISBN:
9780191597497
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198249926.003.0006
Subject:
Philosophy, Moral Philosophy

Justice requires that one act on a fair optimizing strategy when one can—that is, a strategy that will yield an outcome that (nearly) satisfies the standards set by minimax relative concession and ... More


Optimizing and Its Offspring

Paul Weirich

in Realistic Decision Theory: Rules for Nonideal Agents in Nonideal Circumstances

Published in print:
2004
Published Online:
November 2004
ISBN:
9780195171259
eISBN:
9780199834976
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019517125X.003.0002
Subject:
Philosophy, Logic/Philosophy of Mathematics

Decision principles aim at optimization, or realization of an act better than alternative acts. Given uncertainty, an agent’s subjective utility assignment to options assesses an option’s prospects ... More


Equilibrium

Paul Weirich

in Collective Rationality: Equilibrium in Cooperative Games

Published in print:
2010
Published Online:
September 2009
ISBN:
9780195388381
eISBN:
9780199866700
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195388381.003.0006
Subject:
Philosophy, Logic/Philosophy of Mathematics

Some games lack a Nash equilibrium. Because collective rationality is attainable, it does not require that the players realize a Nash equilibrium. It requires that players realize a generalization of ... More


Strategy: Reason and Equilibrium

David Gauthier

in Morals by Agreement

Published in print:
1987
Published Online:
November 2003
ISBN:
9780198249924
eISBN:
9780191597497
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198249926.003.0003
Subject:
Philosophy, Moral Philosophy

Morality is concerned with interaction among persons, and so with strategic choice, in which each adopts a strategy on the basis of what he expects others to do. We state three conditions of ... More


Groups

Paul Weirich

in Collective Rationality: Equilibrium in Cooperative Games

Published in print:
2010
Published Online:
September 2009
ISBN:
9780195388381
eISBN:
9780199866700
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195388381.003.0004
Subject:
Philosophy, Logic/Philosophy of Mathematics

Collective rationality is ordinary rationality extended to groups. Efficiency is a goal but not a requirement of collective rationality. In the Prisoner's Dilemma individual rationality does not ... More


Political Economy: Sociological Perspectives

Claus Offe

in A New Handbook of Political Science

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198294719
eISBN:
9780191599361
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198294719.003.0029
Subject:
Political Science, Reference

As paradigms conflict, so the fields of political economy and sociology conflict, yet they also cross‐fertilize. Reviews the contribution of political economy to sociology and vice versa, pointing to ... More


Rational Decision Making in Primates: The Bounded and the Ecological

Jeffrey R. Stevens

in Primate Neuroethology

Published in print:
2010
Published Online:
February 2010
ISBN:
9780195326598
eISBN:
9780199864904
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195326598.003.0006
Subject:
Psychology, Neuropsychology, Evolutionary Psychology

This chapter reviews decision making behavior in primates. Evidence from both human and nonhuman primates demonstrates that decision makers often fail to behave as predicted by economic principles of ... More


What Can Neuroeconomics Tell Us About Economics (and Vice Versa)?

Mark Dean

in Comparative Decision Making

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199856800
eISBN:
9780199301508
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199856800.003.0018
Subject:
Psychology, Cognitive Neuroscience

This chapter evaluates the progress and impact of neuroeconomics, showing how models and data can be linked to provide mechanistic insights into a classical decision-making field. The focus is on the ... More


Fat Economics: Nutrition, Health, and Economic Policy

Mario Mazzocchi, W. Bruce Traill, and Jason F. Shogren

Published in print:
2009
Published Online:
October 2011
ISBN:
9780199213856
eISBN:
9780191695902
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199213856.001.0001
Subject:
Economics and Finance, Public and Welfare

The obesity epidemic and the growing debate about what, if any, public health policy should be adopted is the subject of endless debates within the media and in governments around the world. Whilst ... More


Revealed Preference

Hal R. Varian

in Samuelsonian Economics and the Twenty-First Century

Published in print:
2006
Published Online:
January 2009
ISBN:
9780199298839
eISBN:
9780191711480
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199298839.003.0007
Subject:
Economics and Finance, History of Economic Thought

This chapter emphasizes the utility maximization of Samuelson's Revealed Preference Theory. It looks for consistency, form, forecasting, and recoverability criteria within the theory. It concludes ... More


Party Policies and Voter Choices

Anthony F. Heath, Roger M. Jowell, and John K. Curtice

in The Rise of New Labour: Party Policies and Voter Choices

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199245116
eISBN:
9780191599453
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199245118.003.0009
Subject:
Political Science, UK Politics

The authors offer a multiplicative model that provides a comprehensive framework to place the main findings of the volume. The model is based on the standard ‘expected utility maximization’ model of ... More


Decision Technology

Jie W Weiss and David J Weiss

in A Science of Decision Making: The Legacy of Ward Edwards

Published in print:
2008
Published Online:
January 2009
ISBN:
9780195322989
eISBN:
9780199869206
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195322989.003.0032
Subject:
Psychology, Cognitive Psychology

This chapter focuses on decision technology—the rules and tools that help us make wiser decisions. It begins by reviewing the three rules that are at the heart of most traditional decision ... More


There’s more to the economics of consumption than (almost) unconstrained utility maximisation

G. M. Peter Swann

in Innovation By Demand: An Interdisciplinary Approach to the Study of Demand and its Role in Innovation

Published in print:
2002
Published Online:
July 2012
ISBN:
9780719062674
eISBN:
9781781700273
Item type:
chapter
Publisher:
Manchester University Press
DOI:
10.7228/manchester/9780719062674.003.0003
Subject:
Political Science, Political Economy

This chapter examines the way in which economists have understood demand. It argues that mainstream, neoclassical or ‘standard’ economists focus on demand as a process in which selections are made ... More


Path Dependence, Precedent, and Judicial Power

Alec Stone Sweet

in On Law, Politics, and Judicialization

Published in print:
2002
Published Online:
November 2003
ISBN:
9780199256488
eISBN:
9780191600234
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199256489.003.0004
Subject:
Political Science, Comparative Politics

This paper is the first part of a much longer version (co-authored by Maragaret McCown) that was presented at the Colloquium on Law, Economics, and Politics, at the Law School, New York University, ... More


Demand Functions

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0003
Subject:
Economics and Finance, History of Economic Thought

Rational consumers are assumed to maximize their preferences subject to the constraints they perceive. With preferences that are representable by utility functions, the consumer's problem is modeled ... More


A Unified Theory of Colleague Valuation in Political Organizations

Kristin Kanthak and George A. Krause

in The Diversity Paradox: Parties, Legislatures, and the Organizational Foundations of Representation in America

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199891726
eISBN:
9780199933433
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199891726.003.0003
Subject:
Political Science, American Politics

This chapter provides a unified theory of colleague valuation whereby individual legislators use diversity as a means to differentially discount colleagues whose policy preferences diverge from their ... More


Combinations of Acts

Paul Weirich

in Rational Responses to Risks

Published in print:
2020
Published Online:
August 2020
ISBN:
9780190089412
eISBN:
9780190089443
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190089412.003.0007
Subject:
Philosophy, Logic/Philosophy of Mathematics

Combining acts combines their risks. Their risks are not additive, either using their sizes or their intrinsic utilities. This creates the possibility of hedging, that is, adopting a risk to lower ... More


Utility maximization

Clas Eriksson

in Economic Growth and the Environment: An Introduction to the Theory

Published in print:
2013
Published Online:
April 2015
ISBN:
9780199663897
eISBN:
9780191808678
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199663897.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter examines how the optimal level of pollution varies over time under different assumptions about the utility function (or the abatement function). In particular, it considers what is ... More


Preferences and Utility

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0002
Subject:
Economics and Finance, History of Economic Thought

Classical consumer theory is essentially the theory of utility maximization under a budget constraint. This theory starts with the definition of consumers' preferences. In classical consumer theory, ... More


Comments by David Starrett on “Red Wells or Green Wells and Does It Matter?”

Scott Barrett, Karl-Göran Mäler, and Eric S. Maskin (eds)

in Environment and Development Economics: Essays in Honour of Sir Partha Dasgupta

Published in print:
2014
Published Online:
May 2014
ISBN:
9780199677856
eISBN:
9780191757266
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199677856.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

The focus of this commentary is on why people are not switching to safe wells despite the private benefits exceeding the costs. The reason is likely to be that the maximization problem formulated in ... More


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