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Rational Choice Theory Lecture Notes (Lectures 1-10) and *SOME* Required Readings - GRADE 8,0 CA$14.05   Add to cart
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Rational Choice Theory Lecture Notes (Lectures 1-10) and *SOME* Required Readings - GRADE 8,0

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  • Course
  • Rational Choice Theory (6442HRCTY)
  • Institution
  • Universiteit Leiden (UL)
  • Book
  • Analyzing Politics

Combined notes on the lectures and *SOME* required readings from the course (2023) Rational Choice Theory. *DISCLAIMER* does NOT include any of the lectures’ practice questions. INCLUDES notes from (Total: 38 pages): Lectures 1-10. Kenneth A. Shepsle’s textbook (2nd edition, 2010) “Anal...

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Document information

  • May 9, 2023
  • June 19, 2023
  • 38
  • 2022/2023
  • Class notes
  • Dr. babak rezaeedaryakenari
  • All classes

Subjects

  • rational choice theory
  • rct
  • game theory
  • utilities
  • utility function
  • probabilities
  • rational
  • choices
  • von neumann
  • expected utility theory
  • theories
  • strategic interactions
  • theories of games

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  • Universiteit Leiden (UL)
  • International Relations and Organizations
  • Rational Choice Theory (6442HRCTY)
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Combined notes on the lectures and *SOME* required readings from the course (2023) Rational
Choice Theory. *DISCLAIMER* does NOT include any of the lectures’ practice questions. INCLUDES
notes from (Total: 38 pages):
● Lectures 1-10.
● Kenneth A. Shepsle’s textbook (2nd edition, 2010) “Analyzing Politics: Rationality, Behavior
and Institutions”, chapters 1 and 2 (2.1-2.8).
● Martin J. Osborne’s textbook (2003) “An Introduction to Game Theory”, chapters 1 and 2.


Rational Choice Theory Lecture Notes (Lectures 1-10) and *SOME*
Required Readings


Table of Contents

Lectures 1-10 1

Lectures 1 & 2: Introduction to Rational Choice Theory (RCT) 1

Lecture 3: Utility Function & Expected Utility Theory 5

Lecture 4: Foundation of Theories of Games & Strategic Interactions 6

Lecture 5: Theories of Games & Strategic Interactions (Part 1) 11

Lectures 6 & 7: Theories of Games & Strategic Interactions (Part 2) 14

Lecture 8: Market (Individualism) Failure & Solution 20

Lectures 9 & 10: Aggregating Preferences & Problems It Raises 24

“Analyzing Politics: Rationality, Behavior and Institutions” 29

Part 1: INTRODUCTION 29

1. It Isn't Rocket Science, but ... 29

2. Rationality: The Model of Choice 30

“An Introduction to Game Theory” 33

1. Introduction 33

I Games with Perfect Information 34

2. Nash Equilibrium: Theory 34

, 1


Lectures 1-10

Lectures 1 & 2: Introduction to Rational Choice Theory (RCT)
Introduction
Political science at the end of WWII:
● Thick descriptions.
● Normative component = many judgements about how it worked & the way the world should
work → Marxism, Liberalism, Capitalism.
● Political science = descriptive & judgmental > analytical.

How could we evaluate the merits of these claims?
● Judgments & speculation = subjective.
● Could we move toward a more objective approach?
○ Research’s subjectivity & objectivity = continuum (fuzzy theory).
○ NO pure objective social science research, BUT some prefer to minimise subjective
factors’ influence by scientific & standardised approaches + peer review process.
● Vienna Circle’s (20th century): Group of philosophers/scientists that promoted the idea of
“logical positivism/empiricism” = only prepositions verified through direct
observation/logical proof have meaning.
➔ Economists among the first groups who:
◆ Internalised & started applying logical positivism in social sciences =
impacted scientific research in different fields.
◆ Applied RCT to modern social issues.

Criticisms of RCT:
● Green & Shapiro = discrepancy between practitioners’ faith in RCT & its failure to deliver
empirically, warrants a closer inspection of RCT as a scientific enterprise.
● Perestroika Movement = dismantling of the Orwellian system in APSA.


Responses to criticisms: → problems with these arguments:
● Fiorina = how could political science have ● Empiricism ≠ RCT ≠ formal
prospered otherwise? (mathematical) modelling.
● Behavioural economics is offered to
● Shepsle = do NOT let go of something until
complement RCT.
you have something else to hold on to.


Tributes:

● Hume = Scottish philosopher in the Enlightenment who discussed utilitarianism & logical positivism.
● Ibn Khaldun = Tunisian philosopher & social scientist (process tracing), arguing good governance &
offering ethnographical analysis.
● Wittgenstein = Austrian philosopher → “nothing is so difficult as not deceiving oneself.”

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