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

Guidelines for interpreting course guide information

Course selection videos

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