5 - Rational choice

Summary

Conditions of rational choice

Our empirical application of rational choice theory in the Potential Contributor's Dilemma includes the concept of a strong preference ordering and the dominance rule. Following Arrow and Riker, we assume that a rational individual is able to make a complete and transitive ranking of the outcomes. The content of the preference ordering is rooted in individual values, i.e., the actor orders the outcomes by whatever standards he deems relevant. This assumption of the subjectivity of the actor in rational choice theory implies that the content of the preference ordering can only be specified by the actor himself.

Though the content of an ordering has a free format, it must satisfy the conditions of transitivity and completeness. If the preferences satisfy these conditions, we regard any ordering as the materialization of this actor's own interest, as he or she sees it. From this perspective one cannot disqualify an ordering like QSPR as irrational and claim that only the Prisoner's Dilemma ordering PQRS is the hallmark of a rational actor. The content of a preference ordering should not be considered part of the definition of rationality. This is the lesson of the thin-theory of rationality, which refuses to specify any particular goal. ‘Everybody is presumed to be self-interested, choosing what provides the most satisfaction, but the content of the self-interest is not specified’ (Riker, 1990: 173).