3 ms·
I came to say something similar, that rational decision making is really a poorly posed problem at some level. Take money for example. You can create a theoret
by derbOac 5y ago
I came to say something similar, that rational decision making is really a poorly posed problem at some level.
Take money for example. You can create a theoretical decision-making dilemma involving certain sums of money, and work out what the most rational strategy is, but in reality, the differences between different sums of money is going to differ between people depending on different value systems and competing interests. So then you get into this scenario where 1 unit of money means something different to different people (the value you put on 1 € is going to be different from the value I put on it; the exchange rates are sort of an average over all these valuations), which might throw off the relevance of the theoretical scenario for reality, or change the optimal decision scenario.
The other issue beside the one you're relating to -- the subjectivity of the weights assigned to different outcomes, the achille's heel of utility theory -- is uncertainty not just about the values in the model, but whether the model is even correct at all. That is, you can create some idea that some course of action is more rational, but what happens when there's some nontrivial probability that the whole framework is incorrect? Your decision about A and B, then, shouldn't just be modeled in terms of whatever is in your model, but all the other things you're not accounting for. Maybe there are other decisions, C and D, which you're not even aware of, or someone else is, but you have to choose B to get to them.
Just yesterday I read this very well-reasoned, elegant, rational explanation by an epidemiologist about why boosters aren't needed. But about 3/4 of the way through I realized it was all based on an assumption that is very suspect, and which throws everything out the window. There are still other things their arguments were missing. So by the end of it I was convinced of the opposite conclusion.
Rationality as a framework is important, but it's limited and often misleading.