Hyper-Rational Choice Theory

11 Pages Posted: 16 Jan 2018 Last revised: 27 Feb 2018

See all articles by Madjid Eshaghi Gordji

Madjid Eshaghi Gordji

Semnan Univesity - Department of Mathematics

Gholamreza Askari

Semnan Univesity - Department of Mathematics

Date Written: October 20, 2017

Abstract

The rational choice theory is based on this idea that people rationally pursue goals for increasing their personal interests. In most conditions, the behavior of an actor is not independent of the person and others' behavior. Here, we present a new concept of rational choice as a \emph{hyper-rational choice} which in this concept, the actor thinks about profit or loss of other actors in addition to his personal profit or loss and then will choose an action which is desirable to him. We implement the hyper-rational choice to generalize and expand the game theory. Results of this study will help to model the behavior of people considering environmental conditions, the kind of behavior interactive, valuation system of itself and others and system of beliefs and internal values of societies. Hyper-rationality helps us understand how human decision makers behave in interactive decisions.

Keywords: Rational choice theory, Game theory, Individual preferences, Rationality, Cooperation

Suggested Citation

Eshaghi Gordji, Madjid and Askari, Gholamreza, Hyper-Rational Choice Theory (October 20, 2017). Available at SSRN: https://ssrn.com/abstract=3099441 or http://dx.doi.org/10.2139/ssrn.3099441

Madjid Eshaghi Gordji

Semnan Univesity - Department of Mathematics ( email )

Semnan Province
Iran

Gholamreza Askari (Contact Author)

Semnan Univesity - Department of Mathematics ( email )

Semnan Province
Iran

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