Hamlet and Rational Choice

AbstractA standard interpretation of the character of Hamlet is that he is indecisive, even pathologically so, and that his indecisiveness is manifested by the lengthy passage of time between when Hamlet is told that his father’s death was a murder and when he kills the perpetrator. Rational choice in economics concerns the connection between means and ends. A person is rational if, given her ends (her goals), she chooses reasonable means to achieve those ends. With uncertainty, a bad (or tragic) outcome can occur even when the best decision is taken. A reasonable approach to achieving one’s goal does not imply that the goal is attained. In Shakespeare’sHamlet, the fact that most of the main characters, including Hamlet, meet untimely deaths is, therefore, not sufficient to conclude that Hamlet (or any other character) engages in less-than-rational behavior. This article examines Hamlet’s actions through the lens of rational choice. Hamlet’s delay in seeking revenge, combined with his interest in collecting more evidence of the alleged assailant’s guilt, comports well with economic rationality. The common view of Hamlet as indecisive, as someone who incorrectly substitutes deliberation for action, is unwarranted.