Game theory is the study of mathematical models of strategic interactions among rational agents. It has applications in many fields of social science, used extensively in economics as well as in logic, systems science and computer science. Traditional game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly balanced by the losses and gains of the other participant. In the 21st century, game theory applies to a wider range of behavioral relations, and it is now an umbrella term for the science of rational decision making in humans, animals, as well as computers.
Normative ethics is the study of ethical behaviour and is the branch of philosophical ethics that investigates questions regarding how one ought to act, in a moral sense.
Social norms are shared standards of acceptable behavior by groups. Social norms can both be informal understandings that govern the behavior of members of a society, as well as be codified into rules and laws. Social normative influences or social norms, are deemed to be powerful drivers of human behavioural changes and well organized and incorporated by major theories which explain human behaviour. Institutions are composed of multiple norms. Norms are shared social beliefs about behavior; thus, they are distinct from "ideas", "attitudes", and "values", which can be held privately, and which do not necessarily concern behavior. Norms are contingent on context, social group, and historical circumstances.
Rationality is the quality of being guided by or based on reason. In this regard, a person acts rationally if they have a good reason for what they do or a belief is rational if it is based on strong evidence. This quality can apply to an ability, as in a rational animal, to a psychological process, like reasoning, to mental states, such as beliefs and intentions, or to persons who possess these other forms of rationality. A thing that lacks rationality is either arational, if it is outside the domain of rational evaluation, or irrational, if it belongs to this domain but does not fulfill its standards.
Normative generally means relating to an evaluative standard. Normativity is the phenomenon in human societies of designating some actions or outcomes as good, desirable, or permissible, and others as bad, undesirable, or impermissible. A norm in this sense means a standard for evaluating or making judgments about behavior or outcomes. "Normative" is sometimes also used, somewhat confusingly, to mean relating to a descriptive standard: doing what is normally done or what most others are expected to do in practice. In this sense a norm is not evaluative, a basis for judging behavior or outcomes; it is simply a fact or observation about behavior or outcomes, without judgment. Many researchers in science, law, and philosophy try to restrict the use of the term "normative" to the evaluative sense and refer to the description of behavior and outcomes as positive, descriptive, predictive, or empirical.
Norms are concepts (sentences) of practical import, oriented to affecting an action, rather than conceptual abstractions that describe, explain, and express. Normative sentences imply "ought-to" types of statements and assertions, in distinction to sentences that provide "is" types of statements and assertions. Common normative sentences include commands, permissions, and prohibitions; common normative abstract concepts include sincerity, justification, and honesty. A popular account of norms describes them as reasons to take action, to believe, and to feel.
Philosophy and economics studies topics such as public economics, behavioural economics, rationality, justice, history of economic thought, rational choice, the appraisal of economic outcomes, institutions and processes, the status of highly idealized economic models, the ontology of economic phenomena and the possibilities of acquiring knowledge of them.
Evolutionary ethics is a field of inquiry that explores how evolutionary theory might bear on our understanding of ethics or morality. The range of issues investigated by evolutionary ethics is quite broad. Supporters of evolutionary ethics have claimed that it has important implications in the fields of descriptive ethics, normative ethics, and metaethics.
Rational egoism is the principle that an action is rational if and only if it maximizes one's self-interest. As such, it is considered a normative form of egoism, though historically has been associated with both positive and normative forms. In its strong form, rational egoism holds that to not pursue one's own interest is unequivocally irrational. Its weaker form, however, holds that while it is rational to pursue self-interest, failing to pursue self-interest is not always irrational.
"Instrumental" and "value-rational action" are terms scholars use to identify two kinds of behavior that humans can engage in. Scholars call using means that "work" as tools, instrumental action, and pursuing ends that are "right" as legitimate ends, value-rational action.
Kenneth George "Ken" Binmore, is an English mathematician, economist, and game theorist, a Professor Emeritus of Economics at University College London (UCL) and a Visiting Emeritus Professor of Economics at the University of Bristol. As a founder of modern economic theory of bargaining, he made important contributions to the foundations of game theory, experimental economics, evolutionary game theory and analytical philosophy. He took up economics after holding the Chair of Mathematics at the London School of Economics. The switch has put him at the forefront of developments in game theory. His other interests include political and moral philosophy, decision theory, and statistics. He has written over 100 scholarly papers and 14 books.
Allan Fletcher Gibbard is the Richard B. Brandt Distinguished University Professor of Philosophy Emeritus at the University of Michigan, Ann Arbor. Gibbard has made major contributions to contemporary ethical theory, in particular metaethics, where he has developed a contemporary version of non-cognitivism. He has also published articles in the philosophy of language, metaphysics, and social choice theory: in social choice, he first proved the result known today as Gibbard-Satterthwaite theorem, which had been previously conjectured by Michael Dummett and Robin Farquharson.
Brian Skyrms is an American philosopher, Distinguished Professor of Logic and Philosophy of Science and Economics at the University of California, Irvine, and a professor of philosophy at Stanford University. He has worked on problems in the philosophy of science, causation, decision theory, game theory, and the foundations of probability.
R. Jay Wallace is Distinguished Professor of Philosophy and William and Trudy Ausfahl Chair at the University of California, Berkeley. His areas of specialization include moral philosophy and philosophy of action. He is most noted for his work on practical reason, moral psychology, and meta-ethics.
Herbert Gintis was an American economist, behavioral scientist, and educator known for his theoretical contributions to sociobiology, especially altruism, cooperation, epistemic game theory, gene-culture coevolution, efficiency wages, strong reciprocity, and human capital theory. Throughout his career, he worked extensively with economist Samuel Bowles. Their landmark book, Schooling in Capitalist America, had multiple editions in five languages since it was first published in 1976. Their book, A Cooperative Species: Human Reciprocity and its Evolution was published by Princeton University Press in 2011.
Trade-off talking rational economic person (TOTREP) is one term, among others, used to denote, in the field of choice analysis, the rational, human agent of economic decisions.
Ruth Chang is an American philosopher and legal scholar who serves as the Professor and Chair of Jurisprudence at the University of Oxford, a Professorial Fellow of University College, Oxford, and an American professor of philosophy. She was previously a professor at Rutgers University from 1998 to 2019. She is known for her research on the incommensurability of values and on practical reason and normativity. She is also widely known for her work on decision-making and is lecturer or consultant on choice at institutions ranging from video-gaming to pharmaceuticals, the U.S. Navy, World Bank, and CIA.
Miriam Solomon is Professor of Philosophy and Chair of the Philosophy Department as well as Affiliated Professor of Women's Studies at Temple University. Solomon's work focuses on the philosophy of science, social epistemology, medical epistemology, medical ethics, and gender and science. Besides her academic appointments, she has published two books and a large number of peer reviewed journal articles, and she has served on the editorial boards of a number of major journals.
Ecological rationality is a particular account of practical rationality, which in turn specifies the norms of rational action – what one ought to do in order to act rationally. The presently dominant account of practical rationality in the social and behavioral sciences such as economics and psychology, rational choice theory, maintains that practical rationality consists in making decisions in accordance with some fixed rules, irrespective of context. Ecological rationality, in contrast, claims that the rationality of a decision depends on the circumstances in which it takes place, so as to achieve one's goals in this particular context. What is considered rational under the rational choice account thus might not always be considered rational under the ecological rationality account. Overall, rational choice theory puts a premium on internal logical consistency whereas ecological rationality targets external performance in the world. The term ecologically rational is only etymologically similar to the biological science of ecology.
A legal norm is a binding rule or principle, or norm, that organisations of sovereign power promulgate and enforce in order to regulate social relations. Legal norms determine the rights and duties of individuals who are the subjects of legal relations within the governing jurisdiction at a given point in time. Competent state authorities issue and publish basic aspects of legal norms through a collection of laws that individuals under that government must abide by, which is further guaranteed by state coercion. There are two categories of legal norms: normativity, which regulates the conduct of people, and generality, which is binding on an indefinite number of people and cases. Diplomatic and legislative immunity refers to instances where legal norms are constructed to be targeted towards a minority and are specifically only binding on them, such as soldiers and public officials.
