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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 ...
The rational choice model, also called rational choice theory refers to a set of guidelines that help understand economic and social behaviour. [1] The theory originated in the eighteenth century and can be traced back to the political economist and philosopher Adam Smith . [ 2 ]
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.
The mythological judgement of Paris required selecting from three incomparable alternatives (the goddesses shown).. Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses the tools of expected utility and probability to model how individuals would behave rationally under uncertainty.
Quintilian and classical rhetoric used the term color for the presenting of an action in the most favourable possible perspective. [5] Laurence Sterne in the eighteenth century took up the point, arguing that, were a man to consider his actions, "he will soon find, that such of them, as strong inclination and custom have prompted him to commit, are generally dressed out and painted with all ...
The study of ethical value is also included in value theory. In addition, values have been studied in various disciplines: anthropology, behavioral economics, business ethics, corporate governance, moral philosophy, political sciences, social psychology, sociology and theology.