Routledge Frontiers of Political Economy The Social Construction of Rationality: Policy Debates and the Power of Good Reasons, (Hardcover)

This book shows that not one, but three different forms of rationality (subjective, social and instrumental) determine the final outcomes of strategic decisions executed by major organizations. Based on an argumentation analysis of six high profile public debates, this book adds nuance to the concept of bounded rationality. The chapters show how it is socially constructed, and thus dependent on shared beliefs or knowledge, institutional context and personal interests. Three double case studies investigating the three rationalities illustrate how decision makers and stakeholders discuss the appropriateness of these rationalities for making decisions in different practice contexts.