Choice Theory: A Very Short Introduction

Michael Allingham

Very Short Introductions

Lively and thought provoking book about the theory behind making decisions
Explores what it means to be rational, and what kind of criteria are we applying when we say that a choice is rational
Examines what it means to choose rationally in various settings: who to spend the rest of your life with, whether to undergo an operation if you are told that the mortality rate is 25 per cent, and whether to travel by air in the face of terrorist threats
Examines what strategies should be applied in making decisions which affect lots of people, including ways of electing politicians. Should a country develop a nuclear capability when it knows that others face the same choice? What are the relative advantages of 'first past the post' and proportional representation in elections?

Choice Theory: A Very Short Introduction

Michael Allingham

Description

We make choices all the time - about trivial matters, about how to spend our money, about how to spend our time, about what to do with our lives. And we are also constantly judging the decisions other people make as rational or irrational. But what kind of criteria are we applying when we say that a choice is rational? What guides our own choices, especially in cases where we don't have complete information about the outcomes? What strategies should be applied in making decisions which affect a lot of people, as in the case of government policy?

This book explores what it means to be rational in all these contexts. It introduces ideas from economics, philosophy, and other areas, showing how the theory applies to decisions in everyday life, and to particular situations such as gambling and the allocation of resources.

ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Choice Theory: A Very Short Introduction

Michael Allingham

Very Short Introductions

Choice Theory: A Very Short Introduction

Michael Allingham

Very Short Introductions

Author Information

Michael Allingham, Fellow and Senior Tutor at Magdalen College, Oxford

Choice Theory: A Very Short Introduction

Michael Allingham

Very Short Introductions

Reviews and Awards

a spirited and efficient welcome for newcomers should brighten many minds already much immersed - make them newcomers again. - Sydney Afriat, University of Siena

Choice Theory: A Very Short Introduction

Michael Allingham

Very Short Introductions

From Our Blog

Why be rational (or payday in Wonderland)?

This little fable illustrates three points. The first is that rationality is a property of patterns of choice rather than of individual choices. As Hume famously noted in 1738, 'it is not contrary to reason to prefer the destruction of the whole world to the scratching of my finger; it is not contrary to reason for me to chuse [sic] my total ruin to prevent the least uneasiness of an Indian'. However, it seems irrational to choose chocolate when the menu comprises coffee, tea, and chocolate; and to choose tea when it comprises just tea and chocolate.

Posted on November 14, 2014

Read the blog post