Rational Decisions

Ken Binmore

Recommended By

Book Synopsis

"Rational Decisions" by Ken Binmore is a thought-provoking exploration of decision-making from an economic perspective. Through concise and logical reasoning, Binmore offers valuable insights into how individuals make rational choices amidst uncertain conditions.

Starting with a focus on game theory, the author lays the groundwork for understanding strategic decision-making. He then delves into the concepts of bounded rationality and behavioral economics, unraveling the complexities of human decision-making in realistic settings.

Binmore introduces mathematical models to illustrate how self-interested agents can arrive at cooperative outcomes through negotiation and bargaining. He also explores the concept of fairness, examining how it influences our decision-making processes and the desire for justice.

The book tackles important topics such as voting, charitable giving, and risk analysis, providing a comprehensive understanding of the rationale behind these decisions. Binmore skillfully incorporates real-world examples and experiments, demonstrating how economic principles can be applied beyond the realm of finance.

Throughout the book, the author emphasizes the importance of understanding others' motivations and preferences, shedding light on the interplay between individual and collective decision-making. He challenges conventional wisdom and encourages readers to critically evaluate the factors that shape their own choices.

With its clear and concise explanations, "Rational Decisions" offers an accessible introduction to the fascinating world of decision theory. It is a must-read for anyone interested in understanding the rationality, or lack thereof, behind the decisions we make in our everyday lives.

Explore More Books

See All
Blueprint
The God Proof
The Player of Games
Planetary
The Sum of Us
These Truths
The New Economics
Dictionary of Untranslatables
The Unincorporated Man
Competition Demystified
Markings
Letters of Note
Moby Dick
The Humane Economy
The Rise and Fall of the British Empire
Awareness
Happiness
The Works
High
Drawing Life
The Giving Tree
Powernomics
Secret Sauce
The Moment of Lift
The Jungle
The Virgin Suicides
Night Sky with Exit Wounds
Poor Numbers
How To Buy Stocks
Memoirs
Bobby Kennedy
The Principia
How Innovation Works
The Great Mental Models
In Search of Lost Time
Fall of Constantinople
A History of the World in Seven Cheap Things
The Art of Spirited Away
March
Mortal Republic
The Psychology of Achievement
Trading Bases
Benjamin Franklin
The Obstacle Is the Way
Death Rattle
Daemon
Structures
The Minefield Girl
Million Dollar Weekend
Flowers for Algernon
Vagabonding
Orwell's Revenge
Black Edge
The Inner Lives of Markets
A Story Lately Told
Surely You're Joking Mr. Feynman
The Power of Full Engagement
More Money Than God
The Lord of the Rings
Monetizing Innovation
The Light Of Other Days
The Bully Pulpit
The Professor in the Cage
Meditations
High Output Management
The Story of Design
The DevOps Handbook
The Great Rupture
Whole Earth Discipline
When Genius Failed
The Clash of the Cultures
The Master Switch
That's What She Said
The Kelly Capital Growth Investment Criterion
Dreamland
The Promise of a Pencil
Use of Weapons
Makers
In Defense of Food
Principles of Economics
The Amateur
Happy Money
Liftoff
The Macintosh Way
Competing Against Luck
Start-up Nation
Gridiron Genius
No Two Alike
War
A Short Guide to a Happy Life
The Upanishads
Home Game
Astrophysics for People In a Hurry
Out of Mao's Shadow
A Pattern Language
The Oxford History of Britain
The Demon Under The Microscope
Thank God for Bitcoin
There Must Be A Pony In Here Somewhere
Behind the Cloud