Rational Choice in an Uncertain World
In the Second Edition of Rational Choice in an Uncertain World the authors compare the basic principles of rationality with actual behaviour in making decisions. They describe theories and research findings from the field of judgment and decision making in a non-technical manner, using anecdotes as a teaching device. Intended…
Why read it?
1 author picked Rational Choice in an Uncertain World as one of their favorite books. Why do they recommend it?
This is technically a textbook and isn’t marketed as a book you bring to the beach. But sometimes, it’s more satisfying to have the big ideas on a topic patiently explained to you in an orderly fashion than to try to pick them up from stories and arguments.
This paperback, coauthored by one of my graduate school teachers (Hastie), explains the famous discoveries by Amos Tversky and Daniel Kahneman on biases in human reasoning, which Kahneman presented in his bestseller Thinking, Fast and Slow (too obvious for me to include on my list). It also explains lesser-known but still fascinating…
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