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Probing the Accuracy of Rational Decision Making Models: Alternative Accounts

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Probing the Accuracy of Rational Decision Making Models: Alternative Accounts
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A Teaching Topic in Democratic Institutions and Policy Process

Probing the Accuracy of Rational Decision Making Models: Alternative Accounts

This topic deals with the major critiques of the rational choice decision making model, exploring different reasons why individuals and institutions may not always be depended upon to act rationally in their own self-interest. Students consider the ways in which imperfect information, cognitive biases and other factors may interfere with rational decision making. Studying major recent developments in the field of behavioural economics is an important component of this topic.

Recommended Reading (University of Toronto PPG-1001)

Wilson, Rick. 2011. “The Contribution of Behavioral Economics to Political Science.” Annual Reviewof Political Science 14: 201-223.

March, James G. and Johan P. Olsen. 1996. “Institutional Perspectives on Political Institutions.” Governance 9, 3: 247-264.

Forester, John. “Bounded Rationality and the Politics of Muddling Through.” Public Administration Review 44, 1 (January 1984), 23-31.

Henrich, John, et al. 2001. “In Search of Homo Economicus: Behavioral Experiments in 15 Small-Scale Societies.” The American Economic Review 91, 2: 73-78.

Jones, Bryan D. “Bounded Rationality.” Annual Review of Political Science 2 (1999), 297-321.

Lindblom, Charles. 1959. “The Science of Muddling Through.” Public Administration Review 19, 2:79-88.

Renwick Monroe, Kristen and Kristen Hill Maher. 1995. “Psychology and Rational Actor Theory.” Political Psychology 16, 1: 1-21.

Tversky, Amos and Daniel Kahneman. 1981. “The Framing of Decisions and the Psychology of Choice.” Science 211, 4481 : 453-458.

Source: PPG-1001 Syllabus, 2013.

Page created by: Ben Eisen, last updated 23 February 2013.





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