Rationality is the quality or state of being reasonable, based on facts or reason rather than emotions or feelings.[1] Rationality is a normative concept that refers to the conformity of ones beliefs with ones reasons to believe, or of ones actions with ones reasons for action. Rationality has different specialized meanings in economics, sociology, psychology, evolutionary biology and political science. A rational decision is one that is not just reasoned, but is also optimal for achieving a goal or solving a problem. Determining optimality for rational behavior requires a quantifiable formulation of the problem, and making several key assumptions. When the goal or problem involves making a decision, rationality factors in how much information is available (e.g. complete or incomplete knowledge). Collectively, the formulation and background assumptions are the model within which rationality applies. Illustrating the relativity of rationality: if one accepts a model in which benefitting oneself is optimal, then rationality is equated with behavior that is self-interested to the point of being selfish; whereas if one accepts a model in which benefiting the group is optimal, then purely selfish behavior is deemed irrational. It is thus meaningless to assert rationality without also specifying the background model assumptions describing how the problem is framed and formulated.
Posted on: Thu, 13 Mar 2014 03:01:42 +0000
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