Rationality (Paperback)

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The term "rationality" is used differently in different disciplines. In philosophy, rationality is originally the exercise of reason, the way humans come to conclusions when considering things most deliberately. However, the term "rationality" tends to be used in the specialized discussions of economics, sociology, psychology and political science. A rational decision is one that is not just reasoned, but is also optimal for achieving a goal or solving a problem. Determining optimality for rational behavior requires a mathematical formulation of the problem, and making several key assumptions. When the goal or problem involves making a decision, rationality factors in how much information is available (e.g. complete or incomplete knowledge). Collectively, the formulation and background assumptions are the model within which rationality applies.