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Full-Text Articles in Social and Behavioral Sciences
Bounded Rationality And Legal Scholarship, Matthew D. Adler
Bounded Rationality And Legal Scholarship, Matthew D. Adler
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Decision theory seems to offer a very attractive normative framework for individual and social choice under uncertainty. The decisionmaker should think of her choice situation, at any given moment, in terms of a set of possible outcomes, that is, specifications of the possible consequences of choice, described in light of the decisionmaker’s goals; a set of possible actions; and a "state set" consisting of possible prior "states of the world." It is this framework for choice which provides the foundation for expected utility theory, as demonstrated in the work of Leonard Savage. Problems arise, however, when the decisionmaker is boundedly …
From The States Up: Building A National Renewable Energy Policy, Shelley Welton
From The States Up: Building A National Renewable Energy Policy, Shelley Welton
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In 2006, a U.S. Government Accountability Office (GAO) report concluded that “[r]educing the nation’s dependence on oil and carbon dioxide emissions in the next 25 years is not unlike the 1960s challenge to put a man on the moon.” In fact, this analogy may be understated. While the scope of the two challenges is similarly daunting, the consequences of failure are potentially much more serious in the case of the energy challenge. One key component of addressing this challenge will be changing the ways in which the U.S. meets its seemingly insatiable electricity demand. The environmental, foreign policy, health, and …