On Philosophy, Politics and Economics is an introductory text covering the basics of instrumental rationality, utility theory, game theory, axiomatic social choice theory and public choice theory. It is ideally suited to introductory courses on political economy and ppe programs, as well as advanced undergraduate social and political philosophy courses. The presentation is non-mathematical. On Philosophy, Politics, and Economics does not presuppose background in economics, and so is ideal for non-economists interested in formal analyses of social and political interaction.THE WADSWORTH PHILOSOPHICAL TOPICS SERIES presents readers with concise, timely, and insightful introductions to a variety of traditional and contemporary philosophical subjects. With this series, students of philosophy will be able to discover the richness of philosophical inquiry across a wide array of concepts, including hallmark philosophical themes and themes typically underrepresented in mainstream philosophy publishing. Written by a distinguished list of scholars who have garnered particular recognition for their excellence in teaching, this series presents the vast sweep of today's philosophical exploration in highly accessible and affordable volumes. These books will prove valuable to philosophy teachers and their students as well as to other readers who share a general interest in philosophy.
Table of Contents
1. INSTRUMENTAL AND ECONOMIC RATIONALITY.
1.1 Instrumental Rationality.
1.2 “Consumption Rationality” as Direct Satisfaction of Goals.
1.3 Homo Economicus.
2. UTILITY THEORY.
2.1 Preferences: What Are They?
2.2 Ordinal Utility Theory.
2.3 Cardinal Utility Theory.
2.4 Is Utility Theory a Formalization of Instrumental Rationality?
2.5 Doubts from Psychology about Expected Utility Theory
3.1 Rationality and Efficiency.
3.2 Efficiency, Externalities, and Public Goods.
4. GAME THEORY.
4.1 Strategic Rationality and Zero-Sum Games.
4.2 The Prisoner’s Dilemma.
4.3 Chicken and Other Games.
4.4 Repeated and Evolutionary Games.
5. SOCIAL CHOICE THEORY.
5.1 The Market and the Forum.
5.2 Axiomatic Social Choice Theory and May’s Theorem.
5.3 Arrow’s Theorem.
5.4 Collective Choice Rules.
5.5 Strategic Voting.
6. PUBLIC CHOICE THEORY.
6.1 Downs’s Economic Theory of Democracy.
6.2 Is Voting Rational?
6.3 Majoritarian Inefficiencies.
6.4 Constitutional Political Economy.