Hyper-rational choice theory

TL;DR

This paper introduces hyper-rational choice theory, expanding traditional rational choice by including considerations of others' profits or losses, to better model interactive decision-making behavior.

Contribution

It presents a novel hyper-rational choice concept that generalizes game theory by incorporating social and environmental considerations into decision-making models.

Findings

Hyper-rationality models human decision-making more accurately.

The approach accounts for social, environmental, and internal value factors.

Potential applications in behavioral and societal modeling.

Abstract

The rational choice theory is based on this idea that people rationally pursue goals for increasing their personal interests. In most conditions, the behavior of an actor is not independent of the person and others' behavior. Here, we present a new concept of rational choice as a hyper-rational choice which in this concept, the actor thinks about profit or loss of other actors in addition to his personal profit or loss and then will choose an action which is desirable to him. We implement the hyper-rational choice to generalize and expand the game theory. Results of this study will help to model the behavior of people considering environmental conditions, the kind of behavior interactive, valuation system of itself and others and system of beliefs and internal values of societies. Hyper-rationality helps us understand how human decision makers behave in interactive decisions.