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Frankfurt's examples are significant because they suggest an alternative way to defend the compatibility of moral responsibility and determinism, in particular by rejecting the first premise of the argument. According to this view, responsibility is compatible with determinism because responsibility does not require the freedom to do otherwise.
For example, the decoy effect shows that inserting a $5 medium soda between a $3 small and $5.10 large can make customers perceive the large as a better deal (because it's "only 10 cents more than the medium"). Behavioral economics introduces models that weaken or remove many assumptions of consumer rationality, including IIA. This provides ...
The mythological Judgement of Paris required selecting from three incomparable alternatives (the goddesses shown).. Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses the tools of expected utility and probability to model how individuals would behave rationally under uncertainty.
Bounded rationality can have significant effects on political decision-making, voter behavior, and policy outcomes. A prominent example of this is heuristic-based voting. According to the theory of bounded rationality, individuals have limited time, information, and cognitive resources to make decisions.
The theory can be applied to general settings outside of those identified by costs and benefits. In general, rational decision making entails choosing among all available alternatives the alternative that the individual most prefers. The "alternatives" can be a set of actions ("what to do?") or a set of objects ("what to choose/buy").
[2] [3] In October 2004, the Dover Area School District of York County, Pennsylvania, changed its biology teaching curriculum to require that intelligent design be presented as an alternative to evolution theory, and that Of Pandas and People, a textbook advocating intelligent design, was to be used as a reference book. [4]
An example of a Condorcet cycle, where some candidate must cause a spoiler effect The first set of methods studied by economists are the majority-rule, or Condorcet , methods . These rules limit spoilers to situations where majority rule is self-contradictory, called Condorcet cycles , and as a result uniquely minimize the possibility of a ...
What is remembered about a decision can be as important as the decision itself, especially in determining how much regret or satisfaction one experiences. [2] Research indicates that the process of making and remembering choices yields memories that tend to be distorted in predictable ways.