Rationality in the context of Bounded rationality

Reason is the capacity of consciously applying logic by drawing valid conclusions from new or existing information, with the aim of seeking truth. It is associated with such characteristically human activities as philosophy, religion, science, language, and mathematics, and is normally considered to be a distinguishing ability possessed by humans. Reason is sometimes referred to as rationality, although the latter is more about its application.

Reasoning involves using more-or-less rational processes of thinking and cognition to extrapolate from one's existing knowledge to generate new knowledge, and involves the use of one's intellect. The field of logic studies the ways in which humans can use formal reasoning to produce logically valid arguments and true conclusions. Reasoning may be subdivided into forms of logical reasoning, such as deductive reasoning, inductive reasoning, and abductive reasoning.

In its broadest sense, justice is the idea that individuals should be treated fairly. According to the Stanford Encyclopedia of Philosophy, the most plausible candidate for a core definition comes from the Institutes of Justinian, a 6th-century codification of Roman law, where justice is defined as "the constant and perpetual will to render to each his due".

A society where justice has been achieved would be one in which individuals receive what they "deserve". The interpretation of what "deserve" means draws on a variety of fields and philosophical branches including ethics, rationality, law, religion, and fairness. The state may pursue justice by operating courts and enforcing their rulings.

Christian Wolff (/vɔːlf/; less correctly Wolf, German: [vɔlf]; also known as Wolfius; ennobled as Christian Freiherr von Wolff in 1745; 24 January 1679 – 9 April 1754) was a German philosopher. Wolff is characterized as one of the most eminent German philosophers between Leibniz and Kant. His life work spanned almost every scholarly subject of his time, displayed and unfolded according to his demonstrative-deductive, mathematical method, which some deem the peak of Enlightenment rationality in Germany.

Wolff wrote in German as his primary language of scholarly instruction and research, although he did translate his works into Latin for his transnational European audience. A founding father of, among other fields, economics and public administration as academic disciplines, he concentrated especially in these fields, giving advice on practical matters to people in government, and stressing the professional nature of university education.

Declarative knowledge is an awareness of facts that can be expressed using declarative sentences. It is also called theoretical knowledge, descriptive knowledge, propositional knowledge, and knowledge-that. It is not restricted to one specific use or purpose and can be stored in books or on computers.

Epistemology is the main discipline studying declarative knowledge. Among other things, it studies the essential components of declarative knowledge. According to a traditionally influential view, it has three elements: it is a belief that is true and justified. As a belief, it is a subjective commitment to the accuracy of the believed claim while truth is an objective aspect. To be justified, a belief has to be rational by being based on good reasons. This means that mere guesses do not amount to knowledge even if they are true. In contemporary epistemology, additional or alternative components have been suggested. One proposal is that no contradicting evidence is present. Other suggestions are that the belief was caused by a reliable cognitive process and that the belief is infallible.

Justification (also called epistemic justification) is a property of beliefs that fulfill certain norms about what a person should believe. Epistemologists often identify justification as a component of knowledge distinguishing it from mere true opinion. They study the reasons why someone holds a belief. Epistemologists are concerned with various features of belief, which include the ideas of warrant (a proper justification for holding a belief), knowledge, rationality, and probability, among others.

Debates surrounding epistemic justification often involve the structure of justification, including whether there are foundational justified beliefs or whether mere coherence is sufficient for a system of beliefs to qualify as justified. Another major subject of debate is the sources of justification, which might include perceptual experience (the evidence of the senses), reason, and authoritative testimony, among others.

A heuristic or heuristic technique (problem solving, mental shortcut, rule of thumb) is any approach to problem solving that employs a pragmatic method that is not fully optimized, perfected, or rationalized, but is nevertheless "good enough" as an approximation or attribute substitution. Where finding an optimal solution is impossible or impractical, heuristic methods can be used to speed up the process of finding a satisfactory solution. Heuristics can be mental shortcuts that ease the cognitive load of making a decision.

Logos (UK: /ˈloʊɡɒs, ˈlɒɡɒs/, US: /ˈloʊɡoʊs/; Ancient Greek: λόγος, romanized: lógos, lit. 'word, discourse, or reason') is a term used in Western philosophy, psychology and rhetoric, as well as religion (notably Christianity), that most broadly means reason, logic, order, or understanding. Among its connotations is that of a rational form of discourse that relies on inductive and deductive reasoning.

Aristotle first systematized the usage of the word, making it one of the three principles of rhetoric alongside ethos and pathos. This original use identifies the word closely to the structure and content of language or text. Both Plato and Aristotle used the term logos (along with rhema) to refer to sentences and propositions.

In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action.

Research about decision-making is also published under the label problem solving, particularly in European psychological research.

Relativism is a family of philosophical views which deny claims to absolute objectivity within a particular domain and assert that valuations in that domain are relative to the perspective of an observer or the context in which they are assessed.

There are many different forms of relativism, with a great deal of variation in scope and differing degrees of controversy among them. Moral relativism encompasses the differences in moral judgments among people and cultures. Epistemic relativism holds that there are no absolute principles regarding normative belief, justification, or rationality, and that there are only relative ones. Alethic relativism (also factual relativism) is the doctrine that there are no absolute truths, i.e., that truth is always relative to some particular frame of reference, such as a language or a culture (cultural relativism), while linguistic relativism asserts that a language's structures influence a speaker's perceptions. Some forms of relativism also bear a resemblance to philosophical skepticism. Descriptive relativism seeks to describe the differences among cultures and people without evaluation, while normative relativism evaluates the word truthfulness of views within a given framework.

Critical theory is a social, historical, and political school of thought and philosophical perspective which centers on analyzing and challenging systemic power relations in society, arguing that knowledge, truth, and social structures are fundamentally shaped by power dynamics between dominant and oppressed groups. Beyond just understanding and critiquing these dynamics, it explicitly aims to transform society through praxis and collective action with an explicit sociopolitical purpose.

Critical theory's main tenets center on analyzing systemic power relations in society, focusing on the dynamics between groups with different levels of social, economic, and institutional power. Unlike traditional social theories that aim primarily to describe and understand society, critical theory explicitly seeks to critique and transform it. Thus, it positions itself as both an analytical framework and a movement for social change. Critical theory examines how dominant groups and structures influence what society considers objective truth, challenging the very notion of pure objectivity and rationality by arguing that knowledge is shaped by power relations and social context. Key principles of critical theory include examining intersecting forms of oppression, emphasizing historical contexts in social analysis, and critiquing capitalist structures. The framework emphasizes praxis (combining theory with action) and highlights how lived experience, collective action, ideology, and educational systems play crucial roles in maintaining or challenging existing power structures.

Christian theology is the theology – the systematic study of the divine and religion – of Christian belief and practice. It concentrates primarily upon the texts of the Old Testament and of the New Testament, as well as on Christian tradition. Christian theologians use biblical exegesis, rational analysis and argument. Theologians may undertake the study of Christian theology for a variety of reasons, such as in order to:

• help them better understand Christian tenets
• make comparisons between Christianity and other traditions
• defend Christianity against objections and criticism
• facilitate reforms in the Christian church
• assist in the propagation of Christianity
• draw on the resources of the Christian tradition to address some present situation or perceived need
• education in Christian philosophy, especially in Neoplatonic philosophy

The problem of induction is a philosophical problem that questions the rationality of predictions about unobserved things based on previous observations. These inferences from the observed to the unobserved are known as "inductive inferences". David Hume, who first formulated the problem in 1739, argued that there is no non-circular way to justify inductive inferences, while he acknowledged that everyone does and must make such inferences.

The traditional inductivist view is that all claimed empirical laws, either in everyday life or through the scientific method, can be justified through some form of reasoning. The problem is that many philosophers tried to find such a justification but their proposals were not accepted by others. Identifying the inductivist view as the scientific view, C. D. Broad once said that induction is "the glory of science and the scandal of philosophy". In contrast, Karl Popper's critical rationalism claimed that inductive justifications are never used in science and proposed instead that science is based on the procedure of conjecturing hypotheses, deductively calculating consequences, and then empirically attempting to falsify them.

Ash'arism (/æʃəˈriː/; Arabic: ٱلْأَشْعَرِيّةُ, romanized: al-Ashʿarīyya) is a school of theology in Sunni Islam named after Abu al-Hasan al-Ash'ari, a Sunni jurist, reformer (mujaddid), and scholastic theologian, in the 9th–10th century. It established an orthodox guideline, based on scriptural authority, rationality, and theological rationalism. It is one of the three main schools alongside Maturidism and Atharism.

Al-Ash'ari established a middle way between the doctrines of the Atharī and Muʿtazila schools of Islamic theology, based both on reliance on the sacred scriptures of Islam and theological rationalism concerning the agency and attributes of God. Ashʿarism eventually became the predominant school of theological thought within Sunnī Islam, and is regarded as the single most important school of Islamic theology in the history of Islam.

Maturidism (Arabic: المَاتُريدِيَّةُ, romanized: al-Māturīdiyya) is a school of theology in Sunni Islam named after Abu Mansur al-Maturidi. It is one of the three creeds of Sunni Islam alongside Ash'arism and Atharism, and prevails in the Hanafi school of jurisprudence.

Al-Maturidi codified and systematized the theological Islamic beliefs already present among the Ḥanafite Muslim theologians of Balkh and Transoxiana under one school of systematic theology (kalām); Abu Hanifa emphasized the use of rationality and theological rationalism regarding the interpretation of the sacred scriptures of Islam.

Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses expected utility and probability to model how individuals would behave rationally under uncertainty. It differs from the cognitive and behavioral sciences in that it is mainly prescriptive and concerned with identifying optimal decisions for a rational agent, rather than describing how people actually make decisions. Despite this, the field is important to the study of real human behavior by social scientists, as it lays the foundations to mathematically model and analyze individuals in fields such as sociology, economics, criminology, cognitive science, moral philosophy and political science.

Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory.

Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory.