100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Rational Choice Theory Lecture Notes (Lectures 1-10) and *SOME* Required Readings - GRADE 8,0 $9.92   Add to cart

Class notes

Rational Choice Theory Lecture Notes (Lectures 1-10) and *SOME* Required Readings - GRADE 8,0

1 review
 118 views  9 purchases
  • Course
  • Institution
  • Book

Combined notes on the lectures and *SOME* required readings from the course (2023) Rational Choice Theory. *DISCLAIMER* does NOT include any of the lectures’ practice questions. INCLUDES notes from (Total: 38 pages): Lectures 1-10. Kenneth A. Shepsle’s textbook (2nd edition, 2010) “Anal...

[Show more]
Last document update: 1 year ago

Preview 2 out of 38  pages

  • May 9, 2023
  • June 19, 2023
  • 38
  • 2022/2023
  • Class notes
  • Dr. babak rezaeedaryakenari
  • All classes

1  review

review-writer-avatar

By: laurenvdb18 • 1 year ago

reply-writer-avatar

By: giacomoef • 1 year ago

Thank you!

avatar-seller
Combined notes on the lectures and *SOME* required readings from the course (2023) Rational
Choice Theory. *DISCLAIMER* does NOT include any of the lectures’ practice questions. INCLUDES
notes from (Total: 38 pages):
● Lectures 1-10.
● Kenneth A. Shepsle’s textbook (2nd edition, 2010) “Analyzing Politics: Rationality, Behavior
and Institutions”, chapters 1 and 2 (2.1-2.8).
● Martin J. Osborne’s textbook (2003) “An Introduction to Game Theory”, chapters 1 and 2.


Rational Choice Theory Lecture Notes (Lectures 1-10) and *SOME*
Required Readings


Table of Contents

Lectures 1-10 1

Lectures 1 & 2: Introduction to Rational Choice Theory (RCT) 1

Lecture 3: Utility Function & Expected Utility Theory 5

Lecture 4: Foundation of Theories of Games & Strategic Interactions 6

Lecture 5: Theories of Games & Strategic Interactions (Part 1) 11

Lectures 6 & 7: Theories of Games & Strategic Interactions (Part 2) 14

Lecture 8: Market (Individualism) Failure & Solution 20

Lectures 9 & 10: Aggregating Preferences & Problems It Raises 24

“Analyzing Politics: Rationality, Behavior and Institutions” 29

Part 1: INTRODUCTION 29

1. It Isn't Rocket Science, but ... 29

2. Rationality: The Model of Choice 30

“An Introduction to Game Theory” 33

1. Introduction 33

I Games with Perfect Information 34

2. Nash Equilibrium: Theory 34

, 1


Lectures 1-10

Lectures 1 & 2: Introduction to Rational Choice Theory (RCT)
Introduction
Political science at the end of WWII:
● Thick descriptions.
● Normative component = many judgements about how it worked & the way the world should
work → Marxism, Liberalism, Capitalism.
● Political science = descriptive & judgmental > analytical.

How could we evaluate the merits of these claims?
● Judgments & speculation = subjective.
● Could we move toward a more objective approach?
○ Research’s subjectivity & objectivity = continuum (fuzzy theory).
○ NO pure objective social science research, BUT some prefer to minimise subjective
factors’ influence by scientific & standardised approaches + peer review process.
● Vienna Circle’s (20th century): Group of philosophers/scientists that promoted the idea of
“logical positivism/empiricism” = only prepositions verified through direct
observation/logical proof have meaning.
➔ Economists among the first groups who:
◆ Internalised & started applying logical positivism in social sciences =
impacted scientific research in different fields.
◆ Applied RCT to modern social issues.

Criticisms of RCT:
● Green & Shapiro = discrepancy between practitioners’ faith in RCT & its failure to deliver
empirically, warrants a closer inspection of RCT as a scientific enterprise.
● Perestroika Movement = dismantling of the Orwellian system in APSA.


Responses to criticisms: → problems with these arguments:
● Fiorina = how could political science have ● Empiricism ≠ RCT ≠ formal
prospered otherwise? (mathematical) modelling.
● Behavioural economics is offered to
● Shepsle = do NOT let go of something until
complement RCT.
you have something else to hold on to.


Tributes:

● Hume = Scottish philosopher in the Enlightenment who discussed utilitarianism & logical positivism.
● Ibn Khaldun = Tunisian philosopher & social scientist (process tracing), arguing good governance &
offering ethnographical analysis.
● Wittgenstein = Austrian philosopher → “nothing is so difficult as not deceiving oneself.”

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller giacomoef. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.92. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79271 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.92  9x  sold
  • (1)
  Add to cart