Rethinking rational choice theory: a companion on rational and moral action

Abstract

For almost a century the representative agent in economic science was characterised byreason and sophistication, routinely and resolutely balancing costs and benefits when he had to take a decision. Since the discovery that people possess separate cognitive and affective brain regions, this character has been replaced by a myopic individual, who has to be supervised and trained to regain some self-control. This book challenges these assumptions, instead employing a dual system of decision making, which takes intoaccount the conflict between conscious and unconscious thought. Through a focuson conscious thought and decision making processes, the author brings morality back to rational choice theory, discussingthe justification of choices and comparing differing principles of justice.