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The theory of bounded reflexivity. A contribution to the debate between the Economics of Conventions and the Regulation Theory

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Author Info
Franck BESSIS ()

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Abstract

This article develops an action theory which explains the dynamics of rules. This theory emphasises two kinds of limitation. First, agents can only recognize the constructed dimension of rules under specific conditions. Second, agents question their beliefs without ever completely freeing themselves from these beliefs. This answer provides the framework to a general action theory potentially common to the Economics of Conventions and to the Regulation Theory. This theory deals with the orders of worth as well as balances of power. It reconciles rationally planned action with spontaneous adjustments as two moments of the same reversible process of rules' construction.

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Publisher Info
Article provided by Centre national de la recherche scientifique (CNRS), Paris in its journal Cahiers d'économie Politique.

Volume (Year): (2008)
Issue (Month): 54 (Jan - Jun)
Pages: 27-56
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Handle: RePEc:cpo:journl:y:2008:i:54:p:27-56

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Find related papers by JEL classification:
A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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This page was last updated on 2009-12-2.

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