Dating definition urban dictionary
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Philosophy and economics, also philosophy of economics, studies topics such as rational choice, the appraisal of economic outcomes, institutions and processes, and the ontology of economic phenomena and the possibilities of acquiring knowledge of them.
Philosophers of science and economists have explored these issues intensively since the work of Alexander Rosenberg and Daniel Hausman dating to 3 decades ago.
Philosophical approaches in decision theory focus on foundational concepts in decision theory – for example, on the natures of choice or preference, rationality, risk and uncertainty, economic agents.
Marx, for example, is generally regarded primarily as a philosopher, his most notable work being on the philosophy of economics.
However, Marx's economic critique of capitalism did not depend on ethics, justice, or any form of morality, instead focusing on the inherent contradictions of capitalism through the lens of a process which is today called dialectical materialism.
There is significant overlap between theoretical issues in economics and the philosophy of economics.
Economic systems as a product of collective activity allow examination of their ethical consequences for all of their participants.
Ethics and economics relates ethical studies to welfare economics.
It is useful to divide philosophy of economics in this way into three subject matters which can be regarded respectively as branches of action theory, ethics (or normative social and political philosophy), and philosophy of science.
Economic theories of rationality, welfare, and social choice defend substantive philosophical theses often informed by relevant philosophical literature and of evident interest to those interested in action theory, philosophical psychology, and social and political philosophy.
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Game theory is closely related to and builds on decision theory and is likewise very strongly interdisciplinary.