Sunday, 16 January 2000

From "Shrewdly Irrational"

By Robert H. Frank.

Rather than take tastes as given, suppose we push the rationalist analysis one step back and ask: "What sort of utility function would a rational agent want to have?" On its face, this question appears incoherent. If a person doesn't have a utility function to begin with, how can he or she possibly choose a utility function in a rational way?

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