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David Hume and Rationality in Decision-Making: A Case Study on the Economic Reading of a Philosopher

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  • André Lapidus

    (PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne)

Abstract

This paper shows that Hume's theory of passion, such as elaborated mainly in book II of the Treatise of Human Nature (1739-40) and in the Dissertation on the Passions (1757), gives rise to a conception of the decision process which challenges the canonical approach to the rationality of decision, as rationality of preferences or rationality of choice. It shows that when adopting a Humean perspective, rationality is not embodied as consistency requirements of individual behaviour, but may emerge as a possible outcome of some dispositions of our mind, which make the world inhabited by our emotions.

Suggested Citation

  • André Lapidus, 2019. "David Hume and Rationality in Decision-Making: A Case Study on the Economic Reading of a Philosopher," Post-Print hal-01831901, HAL.
    • Handle: RePEc:hal:journl:hal-01831901
    Note: View the original document on HAL open archive server: https://paris1.hal.science/hal-01831901
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    References listed on IDEAS

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    1. Moscati, Ivan, 2013. "How Cardinal Utility Entered Economic Analysis during the Ordinal Revolution," CESMEP Working Papers 201301, University of Turin.
    2. Simon, Herbert A, 1978. "Rationality as Process and as Product of Thought," American Economic Review, American Economic Association, vol. 68(2), pages 1-16, May.
    3. Marc-Arthur Diaye & André Lapidus, 2012. "Pleasure and belief in Hume's Decision Process," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(3), pages 355-384, July.
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    9. Andre Lapidus, 2010. "The valuation of decision and individual welfare: a Humean approach," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(1), pages 1-28.
    10. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58, pages 328-328.
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    12. Robert Sugden, 2005. "Why rationality is not a consequence of Hume's theory of choice," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(1), pages 113-118.
    13. André Lapidus, 2011. "The Possibility of a Welfare Policy in a World of Emotion-Driven Individuals: A Humean Point of View," Post-Print hal-00538106, HAL.
    14. Ken Binmore, 1994. "Game Theory and the Social Contract, Volume 1: Playing Fair," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262023636, December.
    15. Marc-Arthur Diaye & Andre Lapidus, 2005. "A Humean theory of choice of which rationality may be one consequence," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(1), pages 89-111.
    16. Marc-Arthur Diaye & Andre Lapidus, 2005. "Why rationality may be a consequence of Hume's theory of choice," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(1), pages 119-126.
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    Keywords

    Hume; economic philosophy; rationality; decision; passion; emotion; desire; preference; will; choice;
    All these keywords.

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