Study Questions for Elster on Rational Choice

  1. Why does Elster claim that rational choice theory is normative?
  2. What is the difference between the normative and descriptive conceptions of rational choice?
  3. What are some problems (anomalies?) Elster identifies in rational choice theory?
  4. What are the three elements of a choice situation? What does rational choice predict will happen?
  5. What is the difference between perfect and imperfect information? risk and uncertainty?
  6. What is risk aversion?
  7. When is game theory appropriate? How is a game "solved"?
  8. When/how does time matter?
  9. According to Elster, what are the requirements of a rational choice explanation?
  10. What are the two ways that rational choice theory can fail? What are the reasons for failure?
  11. What are the filters used by rational choice theory to rule out outcomes?
  12. What are the leading alternatives to rational choice theory? What are their strengths and weaknesses?

Things to look for/keep in mind for future readings:

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