Rationality - Examples of Rationality Applied To Different Fields

Examples of Rationality Applied To Different Fields

Individuals or organizations are called rational if they make optimal decisions in pursuit of their goals. It is in these terms that one speaks, for example, of a rational allocation of resources, or of a rational corporate strategy. For such "rationality", the decision maker's goals are taken as part of the model, and not made subject to criticism, ethical or otherwise.

Debates arise in these four fields about whether or not people or organizations are "really" rational, as well as whether it make sense to model them as such in formal models. Some have argued that a kind of bounded rationality makes more sense for such models.

Others think that any kind of rationality along the lines of rational choice theory is a useless concept for understanding human behavior; the term homo economicus (economic man: the imaginary man being assumed in economic models who is logically consistent but amoral) was coined largely in honor of this view.

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