Rationality - Conditions for rationality
6 important questions on Rationality - Conditions for rationality
Rational set of preferences:
- completeness
- continuity
Hierarchical incommensurability/discountinuity
Cardinal utility function
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The concept of rationality 3 functions:
- descriptive --> people choose in a rational way
- prescriptive --> rationality is a normative notion
Objections by Hausman of the revealed preference theory:
2. Revealed preferences may be misinterpreted if strategic considerations are present.
3. Internal consistency of choice cannot itself be an adequate condition of rationality.
What are the main characteristics of 'Leadership Vision' (content)
- Future-orientated
- embodies particular ideals and excellence
- organisation, market, and culture are key
- positive staff identities
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