IDEAS home Printed from https://ideas.repec.org/a/kap/revaec/v27y2014i2p135-145.html
   My bibliography  Save this article

James M. Buchanan: Through an Austrian window

Author

Listed:
  • Mario Rizzo

Abstract

This tribute to the late James Buchanan is an elaboration of themes he developed on the importance of processes in real, experienced time, especially for individual choice. The conventional way of modeling choice is to think of it as the solution to a constrained maximization problem. If, however, we look at choice as a process in time it is inseparable from the evolution and self-development of the individual. Preferences emerge in the process of their becoming. The fundamental characteristic of choice is thus the expression of autonomy and not the satisfaction of given preferences. The implications of this for normative economics are explored. Copyright Springer Science+Business Media New York 2014

Suggested Citation

  • Mario Rizzo, 2014. "James M. Buchanan: Through an Austrian window," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(2), pages 135-145, June.
    • Handle: RePEc:kap:revaec:v:27:y:2014:i:2:p:135-145
    DOI: 10.1007/s11138-014-0260-1
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11138-014-0260-1
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11138-014-0260-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Richard H. Thaler & Cass R. Sunstein, 2023. "Libertarian paternalism," Chapters, in: Cass R. Sunstein & Lucia A. Reisch (ed.), Research Handbook on Nudges and Society, chapter 1, pages 10-16, Edward Elgar Publishing.
    2. Mandler, Michael, 2001. "Dilemmas in Economic Theory: Persisting Foundational Problems of Microeconomics," OUP Catalogue, Oxford University Press, number 9780195145755.
    3. Cass R. Sunstein & Richard H. Thaler, 2003. "Libertarian paternalism is not an oxymoron," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 48(Jun).
    4. Faruk Gul & Wolfgang Pesendorfer, 2007. "Welfare without Happiness," American Economic Review, American Economic Association, vol. 97(2), pages 471-476, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Malte F. Dold, 2018. "Back to Buchanan? Explorations of welfare and subjectivism in behavioral economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(2), pages 160-178, April.
    2. Gustavo Nunes Mourão & Eduardo Angeli, 2022. "A classification of the methodology of James M. Buchanan from a multidisciplinary perspective," Constitutional Political Economy, Springer, vol. 33(4), pages 413-432, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    2. Ben McQuillin & Robert Sugden, 2012. "Reconciling normative and behavioural economics: the problems to be solved," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(4), pages 553-567, April.
    3. Vipul Bhatt & Masao Ogaki & Yuichi Yaguchi, 2015. "Normative Behavioural Economics Based on Unconditional Love and Moral Virtue," The Japanese Economic Review, Japanese Economic Association, vol. 66(2), pages 226-246, June.
    4. Pugno, Maurizio, 2014. "Scitovsky, behavioural economics, and beyond," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-29.
    5. Joseph E. Stiglitz, 2017. "The overselling of globalization," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(3), pages 129-137, July.
    6. Tasoff, Joshua & Letzler, Robert, 2014. "Everyone believes in redemption: Nudges and overoptimism in costly task completion," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PA), pages 107-122.
    7. Ross Guest, 2010. "Policy Forum: Saving for Retirement: Policy Options to Increase Retirement Saving in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 43(3), pages 293-301, September.
    8. Asen Ivanov, 2021. "Optimal pension plan default policies when employees are biased," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 23(3), pages 583-596, June.
    9. Hitoshi Matsushima, 2018. "Bank Runs and Minimum Reciprocity," CIRJE F-Series CIRJE-F-1099, CIRJE, Faculty of Economics, University of Tokyo.
    10. Schnellenbach, Jan, 2012. "Nudges and norms: On the political economy of soft paternalism," European Journal of Political Economy, Elsevier, vol. 28(2), pages 266-277.
    11. Scott Duke Kominers & Alexander Teytelboym & Vincent P Crawford, 2017. "An invitation to market design," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(4), pages 541-571.
    12. Blomquist, Soren & Micheletto, Luca, 2006. "Optimal redistributive taxation when government's and agents' preferences differ," Journal of Public Economics, Elsevier, vol. 90(6-7), pages 1215-1233, August.
    13. Claus Dierksmeier, 2018. "Qualitative Freedom and Cosmopolitan Responsibility," Humanistic Management Journal, Springer, vol. 2(2), pages 109-123, February.
    14. Nicole D. Sintov & P. Wesley Schultz, 2017. "Adjustable Green Defaults Can Help Make Smart Homes More Sustainable," Sustainability, MDPI, vol. 9(4), pages 1-12, April.
    15. Ajla Cosic & Hana Cosic & Sebastian Ille, 2018. "Can nudges affect students' green behaviour? A field experiment," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 2(1), pages 107-111, March.
    16. Till Grüne-Yanoff, 2012. "Old wine in new casks: libertarian paternalism still violates liberal principles," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(4), pages 635-645, April.
    17. Christopher Jeffords, 2014. "Preference-directed regulation when ethical environmental policy choices are formed with limited information," Empirical Economics, Springer, vol. 46(2), pages 573-606, March.
    18. Cristiano Codagnone & Giuseppe Alessandro Veltri & Francesco Bogliacino & Francisco Lupiáñez-Villanueva & George Gaskell & Andriy Ivchenko & Pietro Ortoleva & Francesco Mureddu, 2016. "Labels as nudges? An experimental study of car eco-labels," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 33(3), pages 403-432, December.
    19. Markus Haavio & Kaisa Kotakorpi, 2012. "Sin Licenses Revisited," CESifo Working Paper Series 4010, CESifo.
    20. Dohmen, Thomas & Falk, Armin & Huffman, David & Marklein, Felix & Sunde, Uwe, 2009. "Biased probability judgment: Evidence of incidence and relationship to economic outcomes from a representative sample," Journal of Economic Behavior & Organization, Elsevier, vol. 72(3), pages 903-915, December.

    More about this item

    Keywords

    Choice; Utility function; Revealed preference; Preference satisfaction; Autonomy; B21; B31; B41; B53;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:revaec:v:27:y:2014:i:2:p:135-145. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.