PH456
Rationality and Choice
This information is for the 2022/23 session.
Teacher responsible
Prof Richard Bradley
Availability
This course is available on the MSc in Economics and Philosophy, MSc in Philosophy and Public Policy, MSc in Philosophy of Science and MSc in Philosophy of the Social Sciences. This course is available as an outside option to students on other programmes where regulations permit.
Pre-requisites
Students taking this course should have familiarity with basic propositional logic and some previous exposure to rational choice theory.
Course content
The course examines the theory of rationality and rational decision making. It is in two parts (i) Probability and Decision: Probabilistic thinking, different interpretations of probability, decision making under risk, ignorance and uncertainty, the measurement of belief and desire, paradoxes of expected utility theory. (ii) Game Theory and Social Choice: Non-cooperative game theory; Solution concepts; evolutionary game theory; May's theorem and arguments for majority rule; Arrow's Theorem; the Gibbard-Satterthwaite theorem; interpersonal comparability and Utilitarianism; the theory of judgement aggregation.
Teaching
15 hours of lectures and 10 hours of seminars in the MT. 15 hours of lectures and 10 hours of seminars in the LT.
Formative coursework
Students will submit two pieces of written work each term and/or complete a number of exercises.
Indicative reading
Richard Jeffrey, The Logic of Decision, Michael Resnik, Choices: an introduction to decision theory, Martin Peterson An Introduction to Decision Theory, Amartya Sen Collective Choice and Social Welfare, Duncan Luce and Howard Raiffa Games and Decisions, Wulf Gaertner A Primer in Social Choice Theory, K. Binmore, Game Theory: A Very Short Introduction
Assessment
Exam (40%, duration: 2 hours) in the summer exam period.
Essay (30%) in the MT.
Essay (30%) in the LT.
The final 2 hour exam will consist of short questions, mainly of a technical nature but including short 'define and explain' ones.
Key facts
Department: Philosophy, Logic and Scientific Method
Total students 2021/22: 17
Average class size 2021/22: 8
Controlled access 2021/22: No
Value: One Unit
Course selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.