Rationality isn't what it is cracked up to be; so I'm always surprised to see economists having such disagreements over it. The normative stuff comes first and then the rational stuff follows that as a handmaiden.This is why people disagree about religion and any number of things and why their arguments are so unconvincing to the opposing contestants.
While I agree with the anonymous fellow above, didn't Daniel Ellsberg poke a hole in the Rational Actor Model by revealing a paradox in the expected utility hypothesis (and thus, question Subjective Expected Utility)?http://www.amazon.com/Risk-Ambiguity-Decision-Studies-Philosophy/dp/0815340222P.S. Daniel Kuehn, what is your opinion of Subjective Expected Utility, anyway?
Blue...I was tinkering around in my head with how Etzioni describes rationality.
Anonymous: Well, I wasn't aware of Etzioni until you mentioned his name. I apologise for misinterpreting your message, since I'm not that knowledgable about sociology. Nonetheless, I think that my mention of Daniel Ellsberg into this equation is legitimate, and economists have been incorporating altruistic motives into their research.
On a totally unrelated point (apologies for that), I have a new post here that might be of interest, not least of all because I want feedback on it:http://socialdemocracy21stcentury.blogspot.com/2011/09/did-hayek-advocate-public-works-in.html
Blue,Wasn't correcting you are anything of the kind; just telling you where I am coming from.Coincidentally this recently showed up in my iTunes podcast queue: http://hw.libsyn.com/p/8/3/b/83be9e73687b7529/Dan_Sperber_on_the_Enigma_of_Reason.mp3?sid=c9fd6b069be2f09744ff391b04ec8c9e&l_sid=18828&l_eid=&l_mid=2726968
Anonymous: I see. Speaking of perspectives on rationality, I think you might enjoy reading this paper.http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1728225
All anonymous comments will be deleted. Consistent pseudonyms are fine.
Daniel Kuehn is a doctoral candidate and adjunct professor in the Economics Department at American University. He has a master's degree in public policy from George Washington University.