The rationality postulate in economics: its ambiguity, its deficiency and its evolutionary alternative
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Economic Methodology 11 (1):1-29 (2004)
Though the rationality postulate is generally considered the paradigmatic core of economics, there is little agreement about its specific content and methodological status. This paper seeks to clarify some of the ambiguity surrounding the postulate by drawing a distinction between the non?refutable, purely heuristic rationality principle and refutable rationality hypotheses. An alternative, evolutionary outlook at purposeful human behavior is outlined that captures much of what makes the rationality postulate attractive to economists but avoids the ambiguities that have made it the subject of enduring controversy.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Maurice Lagueux (2004). The Forgotten Role of the Rationality Principle in Economics. Journal of Economic Methodology 11 (1):31-51.
Isaac Levi (2006). Symposium on “Cognition and Rationality: Part I” Minimal Rationality. [REVIEW] Mind and Society 5 (2):199-211.
Milan Zafirovski (2003). What is Rationality? Selected Conceptions From Social Theory. Social Epistemology 17 (1):13 – 44.
A. W. Schulz (2013). Beyond the Hype: The Value of Evolutionary Theorizing in Economics. Philosophy of the Social Sciences 43 (1):46-72.
Martin Bunzl (2002). Evolutionary Games Without Rationality? Philosophy of the Social Sciences 32 (3):365-378.
Ricardo F. Crespo (2007). 'Practical Comparability' and Ends in Economics. Journal of Economic Methodology 14 (3):371-393.
Boudewijn de Bruin (2006). Popper's Conception of the Rationality Principle in the Social Sciences. In Ian Jarvie, David Miller & Karl Milford (eds.), Karl Popper: A Centenary Assessment: Selected Papers from Karl Popper 2002: Volume III: Science. Ashgate.
Bruno Verbeek (2001). Consequentialism, Rationality and the Relevant Description of Outcomes. Economics and Philosophy 17 (2):181-205.
Elias L. Khalil & Alain Marciano (2010). The Equivalence of Neo-Darwinism and Walrasian Equilibrium: In Defense of Organismus Economicus. Biology and Philosophy 25 (2):229-248.
W. S. Cooper (1989). How Evolutionary Biology Challenges the Classical Theory of Rational Choice. Biology and Philosophy 4 (4):457-481.
D. E. Over & J. St B. T. Evans (2000). Rational Distinctions and Adaptations. Behavioral and Brain Sciences 23 (5):693-694.
Fernand Vandamme (1974). Rationality and the Principle of Rationality in Economics. Philosophica 14.
Matthias Klaes (2004). Evolutionary Economics: In Defence of 'Vagueness'. Journal of Economic Methodology 11 (3):359-376.
Added to index2012-02-20
Total downloads7 ( #263,482 of 1,696,561 )
Recent downloads (6 months)2 ( #247,412 of 1,696,561 )
How can I increase my downloads?