Rational choice theories belong to the most important building blocks of 20th century economics. Their usefulness to model human behaviour has been extensively debated in modern social science and beyond. While some have argued that rational choice theories should be applied to a broad range of political and social phenomena, the rise of behavioural economics questions whether they are appropriate at all for understanding economic behaviour. Conversations on Rational Choice sheds light on what is actually at stake in these debates. In 23 conversations, some of the most prominent protagonists from economics, psychology, and philosophy discuss their individual perspectives on the nature, possible justifications, and epistemic limitations of rational choice theories. Offering a comprehensive assessment of the value of rational choice theories in producing knowledge in economics, these conversations lay the ground for a more nuanced appraisal of rational choice theories from a practical viewpoint.

‘In this engaging and illuminating collection, Catherine Herfeld masterfully brings together leading voices in economics, psychology, and philosophy to explore the foundations, challenges, and future of rational choice. The book provides a rare glimpse into the minds of key thinkers, offering deep insights into their intellectual journeys and the evolution of the field. A must-read for anyone interested in the philosophy and methodology of rational decision-making.’

Stephan Hartmann - Munich Center for Mathematical Philosophy, LMU Munich

‘Conversations on Rational Choice offers a dazzling array of fresh historical and philosophical insights into the making, the functioning, and the backstage of rational choice theory. The book is both a toolbox for historians and philosophers interested in rational choice theory, and a convincing demonstration of the inherent plurality of practices that constitute that theory (or set of theories).’

Dorian Jullien - Centre d'Économie de la Sorbonne, Université Paris 1 Panthéon-Sorbonne

‘Through a series of thoughtful conversations, Herfeld engages critically yet respectfully with an A-list of economists, philosophers, and psychologists. The conversations uncover implicit assumptions, reveal epistemic commitments, and - above all - illuminate diverse uses of rational choice theory. This outstanding book fosters a nuanced, practice-aware, and philosophically grounded understanding of rational choice theories. In doing so, it helps address and (hopefully) bridge the long-standing gap between philosophical critiques and scientific practice.’

Malte F. Dold - Pomona College

‘Catherine Herfeld has crafted her twenty-three conversations with economists, psychologists, and philosophers on rational choice theory with remarkable theoretical command, provocative questioning, and methodological awareness. The result is a book that is both illuminating and entertaining. For historians of 20th-century economics and scholars of economic methodology, it stands out as an indispensable reference.’

Ivan Moscati - Professor of Economics, University of Insubria & Bocconi University

‘Many people aspire to make their decisions rationally. But what exactly does that amount to? Scholars from a wide range of disciplines have tried to answer the question, and many of the luminaries are featured in this fascinating collection of interviews. Catherine Herfeld has drawn on her deep knowledge of economics, her strong philosophical intelligence, and her adroitness as an interviewer to offer a cornucopia of interesting ideas about an important concept.’

Philip Kitcher - John Dewey Professor of Philosophy, Emeritus, Columbia University