Rational Decisions and Actions

Objectively (factually) rational action is such as its agent intends and leads to what he/she plans. Objective rationality of decisions consists of their adaptation to reality regarding effectiveness (efficacy) and efficiency (economy). The objectively irrational actions are ineffective or inefficient (for example, risky without a sufficient reason).

Methodological rationality of decisions is a characteristic of their intentions. It consists of an adaptation of decisions to the knowledge of its entity. Methodologically rational agents decide according to their knowledge (the whole of the information available, which, given its justification, that individuals should assign a probability to act as if it was true). Methodological irrational decisions ignore or contradict the knowledge.

Instrumental rationality (Ger. zweckrational) of decisions is about the methodologically rational choice of the means. Instrumentally rational decisions choose  the optimal – in light of the knowledge of the agent acting – means to achieving the purpose.

Value rationality (Ger. wertrational) of decisions is about the methodologically rational choice of the aims of actions. Value rational decisions respect the hierarchy of values the entity of the decisions adheres.

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References:

Jacko, J. F. (2018). Moral conditions for methodologically rational decisions. In M. Hetmański (Ed.), Rationality and Decision Making. From Normative Rules to Heuristics (Vol. 111, pp. 209–223). Leiden, Boston: Brill Rodopi. Online <http://booksandjournals.brillonline.com/content/books/b9789004359475s012>

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