Foundations of Rational Choice Under Risk

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Critiquing the formal theory of rationality and subjective expected utility (SEU) theory, Paul Anand challenges the logical foundations of SEU as both empirically flawed and normatively restrictive. He presents an alternative perspective on rational choice, emphasizing the connection between an agent's preferences and behaviors. Additionally, Anand explores significant methodological shifts in economics that influence advancements in decision theory, offering a comprehensive evaluation of how rational agency can be understood beyond traditional frameworks.