A leading psychologist and philosopher challenge the shortcomings of rational choice theory—and propose a new framework for understanding decision-making.
For many decision scientists, their starting point—drawn from economics—is a quantitative formula called rational choice theory, allowing people to calculate and choose the best options. The problem is that this framework assumes an overly simplistic picture of the world where different types of values can be quantified and compared, leading to the one “most rational” choice. Behavioral economics acknowledges that irrationality is common but still accepts the underlying belief from economics of what a rational decision should look like.
In this audiobook, the authors offer a different way to think about the choices we make every day. Drawing from economics, psychology, and philosophy—and both inspired by and challenging Daniel Kahneman’s Thinking, Fast and Slow—they show how the focus on rationality, narrowly understood, fails to fully describe how we think about our decisions, much less help us make better ones. Notably, it overlooks the positive contribution that framing—how we determine what aspects are most important to us—contributes to good decisions.
Schwartz and Schuldenfrei argue that our choices should be informed by our individual “constellation of virtues,” allowing for a far richer understanding of the decisions we make and helping us to live more integrated and purposeful lives.
GenreBusiness and Economics, Politics and Government
Length9 hrs 45 mins
Narrated byGrover Gardner
FormatAudiobook
Publish dateNov 22, 2025
LanguageEnglish
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About the author
Barry Schwartz, Richard Schuldenfrei
Barry Schwartz is professor emeritus of psychology at Swarthmore College and visiting professor at Haas School of Business, University of California, Berkeley. His books include The Paradox of Choice, Why We Work, and (as coauthor) Practical Wisdom.View all by Barry Schwartz, Richard Schuldenfrei
