Is Individual Choice Less Problematic Than Collective Choice?

Economics and Philosophy 7 (02):143- (1991)
Abstract
It is commonplace to suppose that the theory of individual rational choice is considerably less problematic than the theory of collective rational choice. In particular, it is often assumed by philosophers, economists, and other social scientists that an individual's choices among outcomes (or lotteries yielding specified probabilities of outcomes) accurately reflect that individual's underlying preferences or values. Further, it is now well known that if an individual's choices among outcomes (or lotteries thereof) satisfy certain plausible axioms of rationality or consistency, that individual's choice-behavior can be interpreted as maximizing expected utility on a utility scale that is unique up to a linear transformation (Ramsey, 1931; Savage, 1954; Von Neumann and Morgenstern, 1944). Hence, there is, in principle, an empirically respectable method of measuring individuals' values and a single unified schema for explaining their actions as value maximizing (insofar as they act rationally).
Keywords No keywords specified (fix it)
Categories (categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 11,412
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

View all 16 references

Citations of this work BETA
Similar books and articles
Analytics

Monthly downloads

Added to index

2010-08-10

Total downloads

24 ( #73,562 of 1,103,046 )

Recent downloads (6 months)

4 ( #84,821 of 1,103,046 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.