Locally rational decision-making

Behavioral and Brain Sciences 26 (2):175-175 (2003)
Abstract
Colman shows that normative theories of rational decision-making fail to produce rational decisions in simple interactive games. I suggest that well-formed theories are possible in local settings, keeping in mind that a good part of each game is the generation of a rational approach appropriate for that game. The key is rationality defined in terms of the game, not individual decisions.
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DOI 10.1017/S0140525X03440053
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