Yasgur, Stuart
(2011)
Reasons, rationality and preferences.
PhD thesis, London School of Economics and Political Science.
Abstract
The theory of choice receives formal treatment in decision theory, game theory and
substantial parts of economics. However there is cause for concern that the formal
treatment of the subject has advanced beyond the substantive grounds on which it relies.
For, the formal theories fundamentally rely on a concept of preference, which is itself lacking
a viable substantive interpretation.
Indeed the challenges to the substantive interpretation of ‘preference’ threaten to undermine
the standard arguments used to justify the completeness and transitivity conditions on which
Preference Theories rely.
This discussion will explore whether a conception of rationality, anchored in a larger
conception of practical reasoning, can justify the completeness and transitivity conditions.
Specifically, this dissertation will draw on recent developments in philosophy of law, action
theory and ethics to enumerate a conception of practical reasoning that takes reasons to be
the basic normative concept. It will then seek to offer an account of rationality that is distinct
from, but complementary to, the role of reasons. And from this foundation develop an
account of preferences that includes many of the characteristics of standard accounts, yet is
situated within this broader context. From this vantage point, the discussion will explore
possible justifications for the completeness and transitivity conditions. Ultimately, it will be
argued that both can be justified – though with different force – in specified domains.
While the discussion will primarily focus on the justification of the completeness and
transitivity conditions, it is in part motivated by the goal of exploring the connections between
the treatment of choice in the distinct fields associated with Preference Theories and action
theory broadly defined. In so doing, the hope is to suggest that there is promise in drawing
together formal and substantive treatments of choice which is deserving of greater attention.
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