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
Euclid's Elements
The Case Against Sugar
Fables
Flowers for Algernon
For The Love Of Physics
The Humane Economy
Memoirs
The Great Mental Models
Think and Grow Rich
History Has Begun
The Story of Civilization: Rousseau and Revolution
The Social Animal
The Worlds I See
Mismatch
The E-Myth Revisited
Citizen Coke
Last Chance to See
The World Without Us
A Confederacy of Dunces
It's Not How Good You Are - It's How Good You Want To Be
Pre-Suasion
The Art of Stillness
What We Owe the Future
Maverick
Letters to a Young Poet
You
Black Box Thinking
Being Nixon
The Black Book of Communism
In Patagonia
Deep Learning
Economics in One Lesson
Monetizing Innovation
Deep Learning
The Dream of Reason
Why Minsky Matters
Everything All At Once
Gay Like Me
Benjamin Franklin
Why Information Grows
The Sympathizer
Home Game
Dancing In The Glory Of Monsters
Go To
The Water Dancer
The Myth of the Strong Leader
Where Do School Funds Go?
So Good They Can't Ignore You
One Hundred Years of Solitude
Best Evidence
The Spy Who Came In From The Cold
Gang Leader for a Day
Gridiron Genius
T
Who Am I
Shook One
Letters of Note
Algorithms to Live By
The Psychology of Money
The Quest for El Cid
This Explains Everything
Spain in Our Hearts
Night Sky with Exit Wounds
Apollo's Arrow
Bitcoin
Love Yourself Like Your Life Depends On It
The Great Revolt
Unstoppable Prosperity
A Pattern Language
Red Star Over The Pacific
Collected Fictions
The Book of Laughter and Forgetting
Life After Power
Who Is Michael Ovitz
On Immunity
An Astronaut's Guide to Life on Earth
Let Your Life Speak
The End of Power
Secrets of Closing the Sale
Lincoln In The Bardo
Chaos
Well
How to Teach Your Baby Math
Dead Wake
What Technology Wants
A Universe From Nothing
Fall of Constantinople
Simple Rules
The New Jim Crow
A Very Expensive Poison
Never Eat Alone
Hold 'em Poker
Born To Run
Devouring Freedom
Twenty Thousand Leagues Under the Sea
The War of Art
René Girard's Mimetic Theory
Radical Son
How To Be a No Limit Person
On Drugs