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
Rick and Morty Book Four
Indigenous Continent
Call Me Ted
Accidental Presidents
The Psychedelic Explorer's Guide
A Confederacy of Dunces
Mission
Against Empathy
Stretching the School Dollar
Losing The Signal
The Four Obsessions of an Extraordinary Executive
As One Is
The Creative Curve
Waiting for Godot
Sam Walton
Autobiography of a Yogi
The Economics of Microfinance
Reminiscences of a Stock Operator
Powering the Future
The Great Challenge
Dog Man
Genius
The Journalist and the Murderer
Bird by Bird
The Heart of Yoga
Complexity and the Economy
Infectious Generosity
The Laws of Thermodynamics
Interventions
Bossypants
Killers of the Flower Moon
The Supermen
The Gifts of Imperfection
Troubled
Replay
The Fortunes of Africa
Win Bigly
Our Mathematical Universe
The Myth of the Strong Leader
The Elephant in the Brain
The Three Body Problem
Different
Without Their Permission
The Discovery of France
The War of Art
Physics from Finance
Travels with Charley
Distant Force
Hansel and Gretel
A History of the Theory of Investments
How To Talk to Anyone
Impromptu
First a Dream
Facing Love Addiction
Letters from a Stoic
Dream Big
Poor Economics
Becoming
Upheaval
The New Science of Strong Materials
UFO Hunters
Altars of Unhewn Stone
For the Love of the Land
Lincoln In The Bardo
The Yoga Sutra of Patanjali
Simple & Direct
Dealing with China
The Story of Civilization: The Age of Napoleon
The Wages of Guilt
The Individualists
The 15 Commitments of Conscious Leadership
The Bonfire of the Vanities
Self-Made Success
Traction
Fundamentals of Plasma Physics
Principles
David Bowie
Brave New World
Dopamine Detox
I Wrote This Book Because I Love You
On The Principles of Political Economy and Taxation
Twelve Against The Gods
Disruptor
Sexual Personae
Spiritual Warfare
I Think, Therefore I Laugh
The Theory of Investment Value
Long Walk to Freedom
Graphs, Maps, Trees
Essays and Aphorisms
City of the Century
On Writing
The Postman Always Rings Twice
Arctica
Catastrophic Care
Stone Age Economics
Broken Money
Billy Martin
The Hard Thing About Hard Things
Focus