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Pragmatic behaviour: pragmatism as a philosophy for behavioural economics

Author

Listed:
  • Pablo Garcés

    (Instituto de Altos Estudios Nacionales of Ecuador (IAEN), the Pontifical Catholic University of Ecuador (PUCE) (Ecuador))

Abstract

Behavioural economics offers an account of actual human behaviour. Contrasting with the conventional normative approach to rationality, rational choice theory, describes the deviations from optimal decision making. These are attributed to failures in two systems, one in charge of automatic behaviour (System 1) and the other responsible for reflective one (System 2). As important as this is, an elaboration of the interaction between them seems to be lacking. Philosophical pragmatism can contribute to address this want. It provides an evolutionary explanation of how people act accounting for the continuity of behaviour including habitual and reflective action. The former is captured by habits and the latter directed towards objects. Additionally, it proposes a dialogical self, consisting of an interaction between the ‘I’, denoting impulse, and the ‘me’, referring to reflective action. As such, pragmatism can provide fertile ground on which to cultivate behavioural insights.

Suggested Citation

  • Pablo Garcés, 2022. "Pragmatic behaviour: pragmatism as a philosophy for behavioural economics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 15(1), pages 1-34, April.
    • Handle: RePEc:bus:jphile:v:15:y:2022:i:1:n:1
    DOI: 10.46298/jpe.8741
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    References listed on IDEAS

    as
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    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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