Modeling Rational Agents The Consistency View Of Rationality And The Changing Image Of Neoclassical Economics
AbstractThe paper investigates the development of the notion of rationality in choice and decision theory from the viewpoint of the transformation undertaken by neoclassical economics during the 20th century — the so-called formalist revolution. The main point is that the reduction of the economic agent to a consistency restriction, carried out by Samuelson's revealed preference theory and (via von Neumann and Morgenstern) Savage's expected utility theory, behind the façade of improving the empirical accountability of economics, eventually acted as a catalyst for that transformation. Thus, no real difference seems to exist on these grounds between Samuelson's, von Neumann and Morgenstern's or Savage's operationalist accounts of choice and decision theory and a purely formalistic approach like Debreu's one.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by L'Harmattan in its journal Cahiers d'économie Politique.
Volume (Year): (2005)
Issue (Month): 49 ()
Contact details of provider:
Web page: http://www.cahiersdecopo.fr/fr/
Postal: 142 rue du faubourg Saint-Martin. 75010 Paris, France.
Find related papers by JEL classification:
- B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Neri Salvadori & Rodolfo Signorino, 2013.
"The Classical Notion of Competition Revisited,"
History of Political Economy,
Duke University Press, vol. 45(1), pages 149-175, Spring.
- Salvadori, Neri & Signorino, Rodolfo, 2010. "The classical notion of competition revisited," MPRA Paper 22499, University Library of Munich, Germany.
- Salvadori, Neri & Signorino, Rodolfo, 2010. "The classical notion of competition revisited," MPRA Paper 22760, University Library of Munich, Germany, revised 17 May 2010.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carlos Andrés Vasco Correa).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.