Are there no economists who are willing to drop the assumption that people are instrumentally rational? Instrumental rationality isn’t the only kind of rationality, so it’s not like dropping that assumption would end all hope of axiomatization, is it?
With the voting example, for example, what about the following principle:
U: Do not refrain from doing something if, were everyone to refrain from doing it, something would happen which you disvalue.
Following U might not be instrumentally rational–because if you do it even when there are defectors about, depending on what’s at stake, you may be in a position to be harmed. But just because it’s not instrumentally rational, isn’t it rational in some other sense? Indeed, in a sense close to “instrumental” since, so long as enough people are following U, the resulting system is likely to be stable and apt to support the existence of things which its members value? (I say “close to instrumental” but not instrumental simpliciter because no one following U thereby causes the stable supportive system to come about. But everyone–or enough people–following U does in some sense constitute such a stable supportive system.)
Are Causal Decision Theory and Evidential Decision Theory things that economists talk about? I ask because in the prisoner’s dilemma with psychologically identical prisoners, evidential decision theory recommends non-defection while causal decision theory recommends defection, and I’ve never understood why people seem to tend to respond to this fact by saying so much the worse for EDT. I’d say, rather, that it’s evidence that EDT is the right decision theory in at least some cases. And since all people are psychologically similar in some sense, EDT might be applicable in a fairly wide range of cases. This may be relevant to the voting case (I’m not sure). Anyway, I don’t even know if CDT and EDT are a thing in economics so I should wait to hear about that first before saying anything more…