Building a new rationality from the new cognitive neuroscience

Authored by: Colin H. McCubbins , Mathew D. McCubbins , Mark Turner

Routledge Handbook of Bounded Rationality

Print publication date:  October  2020
Online publication date:  October  2020

Print ISBN: 9781138999381
eBook ISBN: 9781315658353
Adobe ISBN:


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Game theory is explicitly a theory of how human minds operate. Game theory, however, fails comprehensively as a predictor of human behavior. The failure of game theory is attributable to its mistaken theory of mind––a theory derived from notions and models of cognitive neuroscience that have since been abandoned and replaced. To build a new theory of choice, it is proposed to build a new theory of mind, one drawn from modern cognitive neuroscience. The chapter then outlines an alternative notion of rationality, based on this new theory of mind.

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