Decision Theory and Rationality

by José Luis Bermúdez

The concept of rationality is a common thread through the human and social sciences -- from political science to philosophy, from economics to sociology, and from management science to decision analysis. But what counts as rational action and rational behavior?

Jose Luis Bermudez explores decision theory as a theory of rationality. Decision theory is the mathematical theory of choice and for many social scientists it makes the concept of rationality mathematically tractable and scientifically legitimate.

Yet rationality is a concept with several dimensions and the theory of rationality has different roles to play. It plays an action-guiding role (prescribing what counts as a rational solution of a given decision problem). It plays a normative role (giving us the tools to pass judgment not just on how a decision problem was solved, but also on how it was set up in the first place). And it plays a predictive/explanatory role (telling us how rational agents will behave, or why they did what they did).

This controversial but accessible book shows that decision theory cannot play all of these roles simultaneously. And yet, it argues, no theory of rationality can play one role without playing the other two. The conclusion is that there is no hope of taking decision theory as a theory of rationality.

Genres: Philosophy, Psychology

208 pages, Hardcover

First published January 1, 2009

About the author

José Luis Bermúdez is Professor of Philosophy at Texas A&M University, where he previously served as Dean of the College of Liberal Arts and as Associate Provost for Strategic Planning. Before joining Texas A&M in 2010 he was Professor of Philosophy, Director of the Center for Programs in Arts and Sciences, and Director of the Philosophy-Neuroscience-Psychology Program at Washington University in St. Louis.

Dr. Bermúdez has more than 100 publications, including five single-author books and six edited volumes. His research interests are interdisciplinary in nature at the intersection of philosophy, psychology, and neuroscience. His first book, The Paradox of Self-Consciousness (MIT Press, 1998) analyzed the nature of self-awareness. Thinking without Words (Oxford UP, 2003) offered a model for thinking about the cognitive achievements and abilities of prelinguistic infants an nonlinguistiuc humans. Decision Theory and Rationality (Oxford UP, 2009) explores tensions in how the concept of rationality is defined and formalized in different academic disciplines. The second edition of his textbook Cognitive Science: An Introduction to the Science of the Mind was published by Cambridge University Press in March 2014. He is the editor of the New Problems in Philosophy book series, published by Routledge. Dr Bermudez is currently completing a book on the first person in language and thought, in addition to papers in the philosophy of mind and the theory of rationality.