Synthese 124 (1):73-111 (2000)

Abstract
ABSTRACT. The relations between rationality and optimization have been widely discussed in the wake of Herbert Simon’s work, with the common conclusion that the rationality concept does not imply the optimization principle. The paper is partly concerned with adding evidence for this view, but its main, more challenging objective is to question the converse implication from optimization to rationality, which is accepted even by bounded rationality theorists. We discuss three topics in succession: (1) rationally defensible cyclical choices, (2) the revealed preference theory of optimization, and (3) the infinite regress of optimization. We conclude that (1) and (2) provide evidence only for the weak thesis that rationality does not imply optimization. But (3) is seen to deliver a significant argument for the strong thesis that optimization does not imply rationality.
Keywords Philosophy of action  Rationality  Optimization  Intransitivity  Choice Functions  Infinite Regress of Optimization
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Reprint years 2004
DOI 10.1023/A:1005150001309
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Preferences: Neither Behavioural nor Mental.Francesco Guala - 2019 - Economics and Philosophy 35 (3):383-401.
A Political Justification of Nudging.Francesco Guala & Luigi Mittone - 2015 - Review of Philosophy and Psychology 6 (3):385-395.
Exploiting Cyclic Preference.Arif Ahmed - 2017 - Mind 126 (504):975-1022.

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