Armin W. Schulz

Abstract:I address an overlooked question about the structure of the cognitive/conative model of the mind that underlies much of the work in economics, psychology and philosophy: namely, whether conative states are fundamentally monistic (desire-like) or comparative (preference-like). I argue that two seemingly promising sets of theoretical considerations – namely, the structure of Rational Choice Theory, and considerations of computational efficiency – are unable to resolve this debate. Given this, I suggest that a consideration that speaks in favour of the preference-based view is the fact that it makes it easier to explain certain empirically observed patterns in decision making.

I critically discuss a recent innovation in the debate surrounding the plausibility of rational choice theory : the appeal to evolutionary theory. Specifically, I assess Gigerenzer and colleagues’ claim that considerations based on natural selection show that, instead of making decisions in a RCT-like way, we rely on ‘simple heuristics’. As I try to make clearer here, though, Gigerenzer and colleagues’ arguments are unconvincing: we lack the needed information about our past to determine whether the premises on which they are built are true—and, hence, we cannot tell whether they, in fact, speak against RCT.