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Value-rational action appeared as "normatively regulated". [2]: II:168–74 [9] [10]: 63–4 In later works he distinguished the two kinds of action by motives. Instrumental action has "nonpublic and actor-relative reasons," and value-rational action "publicly defensible and actor-independent reasons". [11]
(1) instrumentally rational (zweckrational), that is, determined by expectations as to the behavior of objects in the environment and of other human beings; these expectations are used as "conditions" or "means" for the attainment of the actor's own rationally pursued and calculated ends; (2) value-rational (wertrational), that is, determined ...
Rational choice theory has become increasingly employed in social sciences other than economics, such as sociology, evolutionary theory and political science in recent decades. [ 13 ] [ 14 ] It has had far-reaching impacts on the study of political science , especially in fields like the study of interest groups, elections , behaviour in ...
Value theory is the systematic study of values.Also called axiology, it examines the nature, sources, and types of values.As a branch of philosophy, it has interdisciplinary applications in fields such as economics, sociology, anthropology, and psychology.
Game theory is closely related to decision theory and the problem of rational choice. [7] [56] Rational choice is based on the idea that rational agents perform a cost-benefit analysis of all available options and choose the option that is most beneficial from their point of view. In the case of game theory, several agents are involved.
Rebeca Gonzalez works at a California Walmart and got a last-minute call to come in. She bought a lottery ticket on her way out and won $1 million.
Donald Trump is condemning the alleged actions of Luigi Mangione and the people who defend him.. In a Dec. 17 news conference, the president-elect, 78, denounced the man accused of killing ...
Kahneman cites that the research contributes mainly to the school of psychology due to imprecision of psychological research to fit the formal economic models; however, the theories are useful to economic theory as a way to expand simple and precise models and cover diverse psychological phenomena. [41]