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[4]: 43–6 A recent study argues that his analysis provides legitimate means for restoring value-rational action as a permanent constraint on instrumental action. Weber's analysis shows [instrumental] scientific rationality to have much more in common with [value-rational] religious rationality than was previously believed.
(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 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.
Value theory, also known as axiology and theory of values, is the systematic study of values.As the branch of philosophy examining which things are good and what it means for something to be good, it distinguishes different types of values and explores how they can be measured and compared.
This has led to disputes in psychology over whether researchers should (only) use standard rules of logic, probability theory and statistics, or rational choice theory as norms of good reasoning. Opponents of this view, such as Gerd Gigerenzer, favor a conception of bounded rationality, especially for tasks under high uncertainty. [96]
[8] Rational choice theory does not claim to describe the choice process, but rather it helps predict the outcome and pattern of choice. It is consequently assumed that the individual is a self-interested or “homo economicus”. Here, the individual comes to a decision that optimizes their preferences by balancing costs and benefits. [9]
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Ethics is closely connected to value theory, which studies the nature and types of value, like the contrast between intrinsic and instrumental value. Moral psychology is a related empirical field and investigates psychological processes involved in morality, such as reasoning and the formation of character.