Rational choice models and self-fulfilling and self-defeating prophecies

Bernard Grofman

pp. 381-383

in: Werner Leinfellner, Eckehart Köhler (eds), Developments in the methodology of social science, Berlin, Springer, 1974

Abstract

If individuals act so as to maximize expected utility then both self-fulfilling and self-defeating prophecies may be integrated into a rational choice model in such a way as to maintain predictability (in probabilistic terms) of individual actions.