Normative notions in descriptive dialogues
AbstractDevelopments in the theory of individual decision-making have been partly shaped by two criteria: a desire for models consistent with experimental evidence; and a pre-commitment to models built on normatively appealing axioms. This paper explores the compatibility of these two selection criteria. The paper reconstructs and scrutinises an argument due to Friedman and Savage asserting that the normative appeal of axioms provides a source of 'indirect' evidence. I judge their argument questionable and, at best, incomplete. As such it does not provide a convincing rationale for normative appeal to be used as a criterion for selection among descriptive theories.
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 Taylor & Francis Journals in its journal Journal of Economic Methodology.
Volume (Year): 12 (2005)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.tandfonline.com/RJEC20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
- Fiore, Annamaria, 2009. "Experimental Economics: Some Methodological Notes," MPRA Paper 12498, University Library of Munich, Germany.
- Sophie Jallais & Pierre-Charles Pradier & David Teira, 2008. "Facts, Norms and Expected Utility Functions," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00274361, HAL.
- Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010.
"Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA,"
24976, University Library of Munich, Germany.
- Nathan Berg & G. Biele & Gerd Gigerenzer, 2013. "Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA," Working Papers 1308, University of Otago, Department of Economics, revised Apr 2013.
- Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010. "Does consistency predict accuracy of beliefs?: Economists surveyed about PSA," MPRA Paper 26590, University Library of Munich, Germany.
- Berg, Nathan, 2010. "Behavioral Economics," MPRA Paper 26587, University Library of Munich, Germany.
- Dorian Jullien, 2013. "Asian Disease-type of Framing of Outcomes as an Historical Curiosity," GREDEG Working Papers 2013-47, Groupe de REcherche en Droit, Économie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
- Laure Cabantous & Denis Hilton, 2006. "De l'aversion à l'ambiguïté aux attitudes face à l'ambiguïté. Les apports d'une perspective psychologique en économie," Revue économique, Presses de Sciences-Po, vol. 57(2), pages 259-280.
- Sophie Jallais & Pierre-Charles Pradier & David Teira, 2008. "Facts, Norms and Expected Utility Functions," Post-Print halshs-00274361, HAL.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.