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- Bruno Verbeek (2001). Consequentialism, Rationality and the Relevant Description of Outcomes. Economics and Philosophy 17 (2):181-205.Instrumental rationality requires that an agent selects those actions that give her the best outcomes. This is the principle of consequentialism. It may be that it is not the only requirement of this form of rationality. Considerations other than the outcomes may enter the picture as well. However, the outcome(s) of an action always play a role in determining its rationality. Seen in this light consequentialism is a minimum requirement of instrumental rationality. Therefore, any theory that tries to spell out the implications of instrumental rationality, in particular expected utility theory, should subscribe to the principle of consequentialism. Or so it seems.
In the first two sections of this essay, I shall start by giving a rough intuitive description of the phenomenon that seems to me the best candidate for the label “instrumental rationality”. As we shall see, this rough description gives us reason to reject some of the myths that surround instrumental rationality. Then in the rest of this essay, I shall try to give a more precise general specification of this phenomenon. In Sections 3 and 4, I shall consider what has been said about instrumental rationality by several other philosophers. Identifying what is missing in these other philosophers’ accounts will help me to develop my own positive specification, which I shall present in Sections 5 and 6.
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