This chapter provides an overview of developments in the fields of decision theory and social choice as surveyed in the chapters of the book. The chapter identifies and contextualizes these developments according to a variety of themes. For the first covering decision theory, rational choice and utility, the Introduction discusses models that generalize expected utility theory, changes in the conception of formal rational choice, models of choice over time and learning, experimental evidence and economic applications, state‐dependent utility and measures of diversity. For the second covering social choice and welfare, this overview discusses formal and philosophical theories that move beyond utilitarianism, justice and welfare, and applications to problems of health and demography and work on freedom, responsibility and the capabilities approach. These key themes in both fields of endeavour indicate a significant development in our understanding of how rational and social choice can be theorized.
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