IDEAS home Printed from
   My bibliography  Save this paper

The rationality of rational fools - The role of commitments, persons and agents in rational choice modeling


  • Werner Güth


  • Hartmut Kliemt


Subjective payoffs that represent given preferences "all things considered" together with strictly uncommitted opportunity taking cannot account for the behavior of personal actors. It is shown how agent based approaches can explicitly capture internal commitments of persons while sticking to conventional utility cum probability representations of desires and beliefs. However, if rational choice modeling is taken to this extreme, conventional analyses in terms of reasoning become implausible since sub-personal agents are not persons endowed with higher cognitive faculties. Starting from preference representations without looking into the black box of mental processes will hinder theoretical progress.

Suggested Citation

  • Werner Güth & Hartmut Kliemt, 2004. "The rationality of rational fools - The role of commitments, persons and agents in rational choice modeling," Papers on Strategic Interaction 2004-34, Max Planck Institute of Economics, Strategic Interaction Group.
  • Handle: RePEc:esi:discus:2004-34

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:esi:discus:2004-34. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karin Richter) The email address of this maintainer does not seem to be valid anymore. Please ask Karin Richter to update the entry or send us the correct email address. General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.