Some writers have noted that valuation is often focused on foreseen changes. They say that we often don't value situations in terms of what we would have in them only but also in terms of the gains or losses that they offer us — that we then focus on departures from our status quo. They argue that such thinking conflicts with basic economic analysis, and also that it violates logic: they say that it is irrational. I agree that it seems (...) to be common. But is such a way of setting one's values a challenge to economics? And does it conflict with being rational? (shrink)

Levi’s work in decision theory has for many years been a major influence on the field. His writings have raised important new issues and opened new lines of inquiry. This collection of his papers brings out the range of his recent studies and the close bearing of his work on the work of others.

In a conflict between two people, one person wants one thing and the other wants something else and they think they can't both have what they want. Suppose that what they want can only be the outcome of some joint action. Adam must do either y or z and Eve either y ' or z ' – here y -and- y ' would be one joint action, y -and- z ' would be another, and so on. Adam wants the outcome (...) of his doing z while Eve is doing y '. Eve wants the outcome of her doing z ' while Adam is doing y. Each thinks that these outcomes can't both be had. (shrink)

This is an important new book about human motivation, about the reasons people have for their actions. What is distinctively new about it is its focus on how people see or understand their situations, options, and prospects. By taking account of people's understandings, Professor Schick is able to expand the current theory of decision and action. The author provides a perspective on the topic by outlining its history. He defends his new theory against criticism, considers its formal structure, and (...) shows at length how it resolves many currently debated problems: the problems of conflict and weakness of will, Allais' problem, Kahneman and Tversky's problems, Newcomb's problem, and others. The book will be of special interest to philosophers, psychologists, and economists. (shrink)

This book is a unique introductory overview of decision theory. It is completely non-technical, without a single formula in the book. Written in a crisp and clear style it succinctly covers the full range of philosophical issues of rationality and decision theory, including game theory, social choice theory, prisoner's dilemma and much else. The book aims to expand the scope and enrich the foundations of decision theory. By addressing such issues as ambivalence, inner conflict, and the constraints imposed upon us (...) by our attachments to others, Frederic Schick reveals that our thinking is often more subtle than standard theories of rationality allow. Only a theory that respects that subtlety can illumine what is otherwise puzzling. The book contains many examples drawn from history and literature dealing with subjects such as love, war, friendship, and crime. (shrink)

In this book Frederic Schick develops his challenge to standard decision theory. He argues that talk of the beliefs and desires of an agent is not sufficient to explain choices. To account for a given choice we need to take into consideration how the agent understands the problem, how he sees in a selective way the options open to him. The author applies his new logic to a host of common human predicaments. Why do people in choice experiments (...) act so often against expectations? Why do people cooperate in situations where textbook logic predicts that they won't? What exactly is weakness of will? What are people reporting when they say their lives have no meaning for them? This book questions the foundations of technical and philosophical decision theory and will appeal to all those who work in that field, be they philosophers, economists and psychologists. (shrink)

This book, first published in 1997, is an introductory overview of decision theory. It is completely non-technical, without a single formula in the book. Written in a crisp and clear style it succinctly covers the full range of philosophical issues of rationality and decision theory, including game theory, social choice theory, prisoner's dilemma and much else. The book aims to expand the scope and enrich the foundations of decision theory. By addressing such issues as ambivalence, inner conflict, and the constraints (...) imposed upon us by our attachments to others, Frederic Schick reveals that our thinking is often more subtle than standard theories of rationality allow. Only a theory that respects that subtlety can illumine what is otherwise puzzling. The book contains many examples drawn from history and literature dealing with subjects such as love, war, friendship, and crime. (shrink)

I want in this paper to do two things. First, I want to respond to some studies that argue that people are often not rational: that people regularly and systematically depart from rationality. The conclusion itself does not worry me. I pressed for the same in a recent book. But the arguments seem to me wrong, and wrong in an interesting way. There may be something to be learned from seeing how and why they fail.

This paper is a critique of Kenneth Arrow's thesis concerning the logical impossibility of a constitution. I argue that one of the premises of Arrow's proof, that of the transitivity of indifference, is untenable. Several concepts of preference are introduced and counter-instances are offered to the transitivity of indifference defined along the standard lines in terms of these concepts. Alternate analyses of indifference in terms of preference are considered, and it is shown that these do not serve Arrow's purposes either. (...) Finally, it is argued that in the single special case in which indifference could plausibly be held to be transitive, Arrow's thesis is innocuous. (shrink)