At the centenary of Frank H. Knight’s Risk, Uncertainty, and Profit (1921), we explore the continuing relevance of Knightian uncertainty to the theory and practice of entrepreneurship. There are three challenges facing such assessment. First, RUP is complex and difficult to interpret. The key but neglected element of RUP is that Knight’s account is not solely about risk and uncertainty as states of nature, but about how an agent’s beliefs about uncertain outcomes and confidence in those beliefs guide their choices. (...) Second, RUP is Knight’s only effort in this area. His subsequent career led elsewhere, so he did not engage with subsequent interpretations of this work. Third, much of the current literature emphasizes that decisions must be different under the two states of nature with a consequent misunderstanding of entrepreneurial agency. This paper addresses each challenge in sequence. First, we explicate Knight’s (1921) approach and explain why that approach is murky. Second, as a complement to Knight’s interpretation, we examine Frank P. Ramsey’s approach to subjective probabilities to help clarify Knight’s murky approach. What links Knight and Ramsey is a shared pragmatism about entrepreneurial agency under uncertainty that depends upon the beliefs about, and confidence in, their judgments of possible outcomes. This Knight-Ramsey approach does not require actor’s behaviors to be determined by the class of uncertain environment (whether risk, uncertainty, or ambiguity) they face. We focus on the response by the entrepreneur to the existence of uncertainty in all its forms. We argue that this reductive account provides a foundation to examine common problems in management, including managerial hubris, the interaction between entrepreneurs and venture capitalists, and the need for experimentation (such as prototyping and market research) in advance of new product and venture launches. Third, we critique current literature that favors epistemic purism about the ontology of risk and uncertainty and ignores Knight-Ramsey pragmatism in meeting uncertainty, such as using formal and informal institutions for uncertainty mitigation. Our account locates Frank Knight’s subtleties in entrepreneurial behavior firmly in the literature on entrepreneurial agency a century later. (shrink)

This paper gives an up-to-date account of we-intentions and responds to some critics of the author’s earlier work on the topic in question. While the main lines of the new account are basically the same as before, the present account considerably adds to the earlier work. For one thing, it shows how we-intentions and joint intentions can arise in terms of the so-called Bulletin Board View of joint intention acquisition, which relies heavily on some underlying mutually accepted conceptual and situational (...) presuppositions but does not require agreement making or joint intention to form a joint intention. The model yields categorical, unconditional intentions to participate in the content of the we-intention and joint intention (viz. shared we-intention upon analysis). The content of a we-intention can be, but need not be a joint action. Thus a participant alone cannot settle and control the content of the intention. Instead the participants jointly settle the content and control the satisfaction of the intention. These and some other features distinguish we-intentions from “action intentions”, viz. intentions that an agent can alone settle and satisfy. The paper discusses weintentions (and other “aim-intentions”) from this perspective and it also defends the author’s earlier account against a charge of vicious circularity that has been directed against it. (shrink)

The paper discusses eliminative explanation in which a (social) successor theory correctively explains and, as a consequence, eliminates its predecessor theory. Technical concepts and results from general logic are applied to the explication of corrective explanation, especially to the notion of framework translation that it involves.

In this paper, I argue that joint action permits a certain degree of luck. The cases I have in mind exhibit the following structure: each participant believes that the intended ends of each robustly support the joint action. This belief turns out to be false. Due to lucky circumstances, the discordance in intention never becomes common knowledge. However, common knowledge of the relevant intentions would have undermined the joint action altogether. The analysis of such cases shows the extent to which (...) common knowledge of the participants’ intentions can be harmful to joint action. This extends a recent line of research that has questioned the necessity of common knowledge in joint action. (shrink)

The paper argues that there are two main kinds of joint action, direct joint bringing about (or performing) something (expressed in terms of a DO-operator) and jointly seeing to it that something is the case (expressed in terms of a Stit-operator). The former kind of joint action contains conjunctive, disjunctive and sequential action and its central subkinds. While joint seeing to it that something is the case is argued to be necessarily intentional, direct joint performance can also be nonintentional. Actions (...) performed by social groups are analyzed in terms of the notions of joint action (basically DO and Stit).A precise semantical analysis of the aforementioned kinds of joint action is given in terms of time-trees. With each participant a tree is connected, and the trees are joined defining joint possible worlds in terms of state-expressing nodes from the trees. Sentences containing DO and Stit are semantically evaluated with respect to such joint possible worlds. Intentional joint actions are characterized in terms of the notion of we-intention (joint intention), characterized formally by means of a special operator. (shrink)

a This is an outline of a coherence theory of law. Its basic ideas are: reasonable support and weighing of reasons. All the rest is commentary.a (TM) These words at the beginning of the preface of this book perfectly indicate what On Law and Reason is about. It is a theory about the nature of the law which emphasises the role of reason in the law and which refuses to limit the role of reason to the application of deductive logic. (...) In 1989, when the first edition of On Law and Reason appeared, this book was ground breaking for several reasons. It provided a rationalistic theory of the law in the language of analytic philosophy and based on a thorough understanding of the results, including technical ones, of analytic philosophy. That was not an obvious combination at the time of the booka (TM)s first appearance and still is not. The result is an analytical rigor that is usually associated with positivist theories of the law, combined with a philosophical position that is not natural law in a strict sense, but which shares with it the emphasis on the role of reason in determining what the law is. If only for this rare combination, On Law and Reason still deserves careful study. On Law and Reason also foreshadowed and influenced a development in the field of Legal Logic that would take place in the nineties of the 20th century, namely the development of non-monotonic (a defeasiblea (TM)) logics for the analysis of legal reasoning. In the new Introduction to this second edition, this aspect is explored in some more detail. (shrink)

In this paper, I restrict the discussion to overt intentional action, intentional action that essentially involves peripheral bodily movement. My guiding question is this: If there is a specific motivational role that intention is plausibly regarded as playing in all cases of overt intentional action, in virtue of what feature(s) of intention does it play this role? I am looking for an answer that can be articulated in the terminology of intentionalist psychology.

Many philosophers of action, including Bratman and Mele, conceive intentions functionally, as executive states: intentions are mental states that represent an action and tend to cause this action. In the philosophical tradition (e.g. for Aristotle, Thomas Aquinas, Leibniz, Kant) another function of intentions, which may be called “volitive”, played a much more prominent role: intentions are mental states that represent what kind of actions we want and prefer to be realised and thus, in a possibly rational way, synthesise our motivational, (...) desiderative, and perhaps affective as well as cognitive attitudes towards this action. This paper argues that intentions must fulfil both functions and then develops a concept of ‘intention’ that integrates both functions. One reason for including the volitive function in the definition of ‘intention’ is that only via this function the value of actions as such is realised, namely to enable the person, the kernel of the self to express herself and to control the world. Various forms of dissociation of the two functions are discussed and a proposal how to deal with such cases in the definition of ‘intention’ is developed. (shrink)

La philosophie analytique de l'action se réclame du langage ordinaire de l'action comme une des sources de ses data philosophiques. Elle se propose d'en examiner le fonctionnement, d'en extraire les concepts clés, de caractériser les formes de propositions dans lesquelles s'expriment nos actions et notre façon spontanée de les comprendre, d'examiner l'articulation propre aux stratégies d'action et au discours qui les justifie, et de faire des « proposals » pour la construction d'une théorie de l'action. En somme, il s'agit d'ériger (...) le langage ordinaire en instance de contrôle aussi bien sur le plan du traitement de problèmes philosophiques que sur celui de la construction de méta-théories des sciences de l'homme. Ce travail sur le langage de l'action peut revêtir plusieurs fonctions: fonction de clarification ou de détection de confusions, fonction thérapeutique pour guérir le langage de maladies philosophiques, c'est-à-dire des pseudo-problèmes, fonction heuristique pour prescrire une diète appropriée au traitement des perplexités philosophiques qui surgissent « quand le langage tourne à vide, non quand il travaille », pour employer le mot de Wittgenstein. (shrink)

In a recent paper in this journal, Derek Baker (Erkenntnis 83(4):829–852, 2018) raises an objection to expressivism as it has been developed by Mark Schroeder (Being for, Oxford University Press, Oxford, 2008). Baker argues that Schroeder’s expressivist (1) is committed to certain sentences expressing rationally incoherent states of mind, and he objects (2) that the expressivist cannot explain why these states would be rationally incoherent. The aim of this paper is to show that Baker’s argument for (1) is unsound, and (...) that (1) is unlikely to be true. This obviates the need to explain the alleged rational incoherence, and so Baker’s objection to Schroeder’s expressivism is undermined. (shrink)

This paper replies to criticisms of the author's accounts of intending ("journal of philosophy", 1973), wanting ("philosophical studies", 1973), and common-sense explanations of intentional actions; and it extends the nomological theory of intentional action developed in those and other articles. the paper argues, negatively, that theoretical construct accounts of intentional concepts do not entail implausible views of self-knowledge, nor assimilate reasons to mechanical causes; and, positively, that both the way in which reasons render intelligible the actions they explain and the (...) apparently non-contingent relation certain reasons bear to the actions they explain can be accommodated by a sound nomological theory of intentional action. (shrink)

This paper defends a cognitive-motivational account of intending against recent criticism by J. Garcia, connects intending with a number of other concepts important in the theory of action — including decison, volition, and planning — and explores some principles of intention transfer construed as counterparts of epistemic principles governing closure for belief and justification. Several routes to intention formation are described; the role of intentions in planning is examined; and a holistic conception of intention formation and change is stressed. The (...) proposed conception of intending as embodying at once a cognitive and a motivational commitment to action is thus shown to help in understanding both the explanation of action and the rationality of agents. (shrink)

This work consists of two parts. Part I will be a contribution to a philo- sophical discussion of the nature of causal explanation. It will present my contrastive counterfactual theory of causal explanation and show how it can be used to deal with a number of problems facing theories of causal explanation. Part II is a contribution to a discussion of the na- ture of interest explanation in social studies of science. The aim is to help to resolve some controversies (...) concerning interest explanation by explicating the concept of interest and its explanatory uses by using the account of explanation developed in Part I. (shrink)