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Bounded Rationality (U03443)

? Credit Points : 20 ? SCQF Level : 10 ? Acronym : PPL-4-BR-PH

The course will introduce students to current research on the topic of bounded rationality and its implications for ethics and social choice.
The course will be divided into three parts. The first part will focus on idealized theories of rational choice. The second part will consider the ways in which humans appear to violate the norms associated with rational choice theory, and whether there is a robust and distinctive form of nonidealized or bounded rationality. The third part will examine some of the implications of bounded rationality for ethics, in particular concerning the evolution of the social contract and institutional design.

? Keywords : bounded rationality

Entry Requirements

? Pre-requisites : Completion of Junior Honours (single or combined) philosophy programme.

Subject Areas

Home subject area

Philosophy, (School of Philosophy, Psychology and Language Sciences, Schedule I)

Delivery Information

? Normal year taken : 4th year

? Delivery Period : Semester 2 (Blocks 3-4)

? Contact Teaching Time : 2 hour(s) per week for 11 weeks

First Class Information

Date	Start	End	Room	Area	Additional Information
10/01/2008	14:00	15:50	Tutorial Room M1, Appleton Tower	Central

All of the following classes

Type	Day	Start	End	Area
Lecture	Thursday	14:00	15:50	Central

Summary of Intended Learning Outcomes

On completion of the course, students will be able to:
- analyse the problems that bounded rationality poses for rational choice theory and for game theory;
- compare and contrast different ways of modeling bounded rationality;
- understand the connection between bounded rationality and ethics;
- be familiar with a variety of research methodologies from rational choice theory and ethics;
- synthesise literature in rational choice theory, evolutionary game theory, and ethics;
- bring analytic and critical tools to bear in reading and writing about current topics of research on bounded rationality.

Assessment Information

Assessment will be by 2-hour examination in the June diet. Senior Honours students may opt to write a long essay (approximately 5000 words) in lieu of the final exam.