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  1. R.K. N*R*Yan on the Invasion of Ukraine and Specialization.Terence Rajivan Edward - manuscript
    In this paper, I present a challenge to Adam Smith’s specialization recommendations, at least according to the “unzany” interpretation suggested by his famous pin factory example. I present it while attempting the style of a notable fiction writer from the Indian sub-continent, as befits the challenge. I have adapted the style slightly for the Western setting.
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  2. Consequentialism and Its Demands: The Role of Institutions.Attila Tanyi & András Miklós - manuscript
    It isn’t saying much to claim that morality is demanding; the question, rather, is: can morality be so demanding that we have reason not to follow its dictates? According to many, it can, if that morality is a consequentialist one. This paper takes the plausibility and coherence of this objection – the Demandingness Objection – as a given. Our question, therefore, is how to respond to the Objection. We put forward a response that we think has not received sufficient attention (...)
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  3. Trust and Distrust in Institutions and Governance.Mark Alfano & Nicole Huijts - forthcoming - In Judith Simon (ed.), Handbook of Trust and Philosophy. Routledge.
    First, we explain the conception of trustworthiness that we employ. We model trustworthiness as a relation among a trustor, a trustee, and a field of trust defined and delimited by its scope. In addition, both potential trustors and potential trustees are modeled as being more or less reliable in signaling either their willingness to trust or their willingness to prove trustworthy in various fields in relation to various other agents. Second, following Alfano (forthcoming) we argue that the social scale of (...)
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  4. Price Gouging and the Duty of Easy Rescue.Elizabeth Brake - forthcoming - Economics and Philosophy:1-24.
    What, if anything, is wrong with price gouging? Its defenders argue that it increases supply of scarce necessities; critics argue that it is exploitative, inequitable and vicious. In this paper, I argue for its moral wrongness and legal prohibition, without relying on charges of exploitation, inequity or poor character. What is fundamentally wrong with price gouging is that it violates a duty of easy rescue. While legal enforcement of such duties is controversial, a special case can be made for their (...)
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  5. Causes of the Financial Crisis‗.Jeffrey Friedman - forthcoming - Critical Review: A Journal of Politics and Society.
    The financial crisis was caused by the complex, constantly growing web of regulations designed to constrain and redirect modern capitalism. This complexity made investors, bankers, and perhaps regulators themselves ignorant of regulations previously promulgated across decades and in different “fields” of regulation. These regulations interacted with each other to foster the issuance and securitization of subprime mortgages; their rating as AA or AAA; and their concentration on the balance sheets (and off the balance sheets) of many commercial and investment banks. (...)
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  6. The Form of the Firm: A Normative Political Theory of the Corporation, Abraham Singer. Oxford University Press, 2019, Xii + 296 Pages. [REVIEW]Daniel Halliday - forthcoming - Economics and Philosophy:1-6.
  7. Economic Statecraft: Human Rights, Sanctions, and Conditionality, Cécile Fabre. Harvard University Press, 2018, 214 Pages. [REVIEW]Lisa Hecht - forthcoming - Economics and Philosophy:1-6.
  8. Commercial Republicanism.Robert S. Taylor - forthcoming - In Frank Lovett & Tim Sellers (eds.), Oxford Handbook of Republicanism. Oxford, UK: Oxford University Press.
    Commercial republicanism is the idea that a properly-structured commercial society can serve the republican end of minimizing the domination of citizens by states (imperium) and of citizens by other citizens (dominium). Much has been written about this idea in the last half-century, including analyses of individual commercial republicans (e.g., Adam Smith and Immanuel Kant) as well as discussions of national traditions of the same (e.g., in America, Britain, France, the Netherlands, and Italy). In this chapter, I review five kinds of (...)
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  9. The Principle of Merit and the Capital-Labour Split.Jeppe von Platz - 2022 - Economics and Philosophy 38 (1):1-23.
    Some meritocratic defenders of capitalism rely on the principle that cooperators should receive a share of the product commensurate with their contribution. However, such defences of capitalism fail due to a dilemma. Either they rely on an understanding of contribution that arguably will be reflected by the capital-labour split in suitably idealized capitalist economies, but cannot serve as a plausible standard of merit; or they rely on an interpretation of contribution that is a plausible standard of merit, but which won’t (...)
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  10. The Institutional Preconditions of Homo Economicus.Eduard Braun - 2021 - Journal of Economic Methodology 28 (2):231-246.
    Most economists are aware that homo economicus is not a ‘conception of man,’ but only a useful assumption. Still, homo economicus is usually interpreted as an assumption about individual agents. It...
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  11. Economic Methodology, the Philosophy of Economics and the Economy: Another Turn?Sheila Dow - 2021 - Journal of Economic Methodology 28 (1):46-53.
    This contribution considers how economic methodology and the philosophy of economics have evolved in the light of real experience in the economy. Philosophical and methodological discourse about ec...
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  12. Putting Costs and Benefits of Ordeals Together.Anders Herlitz - 2021 - Economics and Philosophy 37 (1):37-49.
    This paper addresses how to think about the permissibility of introducing deadweight costs on candidate recipients of goods in order to attain better outcomes. The paper introduces some distinctions between different kinds of value dimensions that should be taken into account when such judgements are made and draws from the literature on comparisons across different value dimensions in order to canvas what sort of situations one might arguably face when evaluating ordeals. In light of the distinctions drawn and the possibilities (...)
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  13. Co-Production and Economics: Insights From the Constructive Use of Experimental Games in Adaptive Resource Management.Michiru Nagatsu - 2021 - Journal of Economic Methodology 28 (1):134-142.
    I envision new directions in the methodology of experimental games in the field of developmental, environmental and resource economics. Although there have been extensive discussions on experimenta...
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  14. Economics and Community Knowledge-Making.Julie A. Nelson - 2021 - Journal of Economic Methodology 28 (1):107-113.
    Knowledge-making is a social activity. In this essay, I discuss how the economics discipline may be becoming a bit more cognizant of this fact, even though it goes against a long habit of imagining...
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  15. Rationing with Time: Time-Cost Ordeals’ Burdens and Distributive Effects.Julie L. Rose - 2021 - Economics and Philosophy 37 (1):50-63.
    Individuals often face administrative hurdles in attempting to access health care, public programmes, and other legal statuses and entitlements. These ordeals are the products, directly or indirectly, of institutional and policy design choices. I argue that evaluating whether such ordeals are justifiable or desirable instruments of social policy depends on assessing, beyond their targeting effects, the process-related burdens they impose on those attempting to navigate them and these burdens’ distributive effects. I here examine specifically how ordeals that levy time costs (...)
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  16. Economic Methodology for Policy Guidance.Don Ross - 2021 - Journal of Economic Methodology 28 (3):340-347.
    Before reading two recent books of which David Colander is first author, I had thought of him as a unique gadfly who has been the best promoter of three loosely connected strands of work. He has do...
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  17. What Are We Up To?Jack Vromen - 2021 - Journal of Economic Methodology 28 (1):23-31.
    Even though one of the founding aspirations of our field was to foster mutually beneficial exchanges between economics and philosophy, economists never paid much attention to our work. Now that pra...
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  18. Entrepreneurial Beleifs and Agency Under Knightian Uncertainty.Randall Westgren & Travis Holmes - 2021 - Philosophy of Management 22.
    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. (...)
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  19. Consensus and Dissention Among Economic Science Academics in Mexico.Jorge L. Andere, Jorge Luis Canche-Escamilla & Alvaro Cano-Escalante - 2020 - Economic Thought 9 (2):1.
    We report general and consensus results of a survey administered to a defined population of economic science academics in Mexico. Our results include insights on economic opinions, scientific aspects of economics, scientific activities, countries' economic performances and methodological orientation. Our outcomes show areas of consensus which, at least partially, are consistent with findings in previous studies. Comparisons between our results and those of other studies suggest that consensus could be constant over time and that economics academics in Mexico seems to (...)
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  20. The Psychological Contributions of Pragmatism and of Original Institutional Economics and Their Implications for Policy Action.Arturo Hermann - 2020 - Economic Thought 9 (1):48.
    The aim of this work is to illustrate the psychological contributions of Pragmatism and of the Original Institutional Economics, and their relevance for improving the process of social valuing and, as a consequence, the effectiveness of policy action. As a matter of fact, both institutionalist and pragmatist theories were well acquainted with various strands of psychology, and some of them also provided relevant contributions in this respect. Moreover, these theories reveal, along with various differences, significant complementarities, both between themselves and (...)
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  21. Las metáforas de la política.María G. Navarro - 2020 - The Conversation.
    Existen insospechados parecidos de familia. En sus clases de Ciencia y Filosofía Política en la Universidad de Yale, Seyla Benhabib suele insistir en que las personas se terminan pareciendo mucho más a sus propias instituciones que a los Estados o a las naciones en las que viven. Esta aseveración resulta inquietante. De todos es sabido que podemos identificarnos más o menos con nuestra propia nación, pero la idea de que, en verdad, todos vayamos a terminar pareciéndonos mucho más a ciertas (...)
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  22. Collectively Accepted Social Norms and Performativity: The Pursuit of Normativity of Globalization in Economic Institutions.Noriaki Okamoto - 2020 - Journal of Economic Methodology 27 (3):226-239.
    Although the philosophical literature on social institutions has been insightful for social scientific studies, the application of its core concepts, such as collective intentionality, to real inst...
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  23. Institutions and Evolution of Capitalism: Essays in Honour of Geoffrey M. Hodgson.David Gindis & Francesca Gagliardi (eds.) - 2019 - Cheltenham, UK: Edward Elgar.
    In just over 30 years, Geoff Hodgson has made substantial contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this volume brings together original contributions by world-leading scholars in specific areas that have played a significant role in influencing his thinking or represent key debates to which he has contributed. Building on some of the most significant philosophical and methodological foundations underlying Hodgson's work, the volume is organised around (...)
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  24. Institutions and Evolution of Capitalism in Geoff Hodgson’s Work.David Gindis & Francesca Gagliardi - 2019 - In Institutions and Evolution of Capitalism: Essays in Honour of Geoffrey M. Hodgson. Cheltenham, UK: pp. 2-12.
    This article is the introductory chapter to a festschrift in honour of Geoff Hodgson. In work spanning four decades, Geoff Hodgson has made many path-breaking contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory more broadly. Hodgson’s reputation as a prolific and important writer, whose work transcends traditional disciplinary boundaries, is matched by his credentials as an academic entrepreneur, whose involvement in the formation of two international scholarly societies and the foundation of the (...)
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  25. Leaving Town for the Market: The Emergence and Expansion of Social Trust in the Works of Elinor Ostrom and Henry Sumner Maine.Marc Goetzmann - 2019 - Teoria E Critica Della Regolazione Sociale 2 (19):147-168.
    This paper uses the evolutionary frame provided by the Victorian jurist Henry Sumner Maine to describe the process by which trust can be seen as the product of a gradual development that starts with small-scale communities and later allows market exchanges to develop themselves. I also argue, using the work of Elinor Ostrom (1990), that trust emerges first within small-scale communities, where first- and second-degree collective action problems need to be resolved. The development of a social disposition to trust is (...)
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  26. The All Too Human Welfare State: Freedom Between Gift and Corruption.Paolo Silvestri - 2019 - Teoria E Critica Della Regolazione Sociale 19 (2):123-145.
    Can taxation and the redistribution of wealth through the welfare state be conceived as a modern system of circulation of the gift? But once such a gift is institutionalized, regulated and sanctioned through legal mechanisms, does it not risk being perverted or corrupted, and/or not leaving room for genuinely altruistic motives? What is more: if the market’s utilitarian logic can corrupt or ‘crowd out’ altruistic feelings or motivations, what makes us think that the welfare state cannot also be a source (...)
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  27. Book Review: Private Government: How Employers Rule Our Lives (and Why We Don’T Talk About It) by Elizabeth Anderson. [REVIEW]Uğur Aytaç - 2018 - ID: International Dialogue, A Multidisciplinary Journal of World Affairs 8:77-84.
  28. El capital social en situaciones de cambio institucional.María G. Navarro - 2018 - Bajo Palabra. Revista de Filosofía 20:65-84.
    In this article, the hypothesis according to which the institutional change is determined by the mobilization of social capital is exposed. It is analysed what consequences derived from this fact in relation to the processes of deinstitutionalization of the policy. It proposes an interpretation of academically relevant results about the meaning of the term ‘deinstitutionalization’, explains some of the most important antecedents on institutional theory and, fially, proposes some fundamental ideas to advance the philosophical reflction about the so-called new institutionalism.
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  29. Cigarettes, Dollars and Bitcoins – an Essay on the Ontology of Money.J. P. Smit, Filip8 Buekens & Stan Du Plessis - 2016 - Journal of Institutional Economics 12 (2):327 - 347.
    What does being money consist in? We argue that something is money if, and only if, it is typically acquired in order to realise the reduction in transaction costs that accrues in virtue of agents coordinating on acquiring the same thing when deciding what thing to acquire in order to exchange. What kinds of things can be money? We argue against the common view that a variety of things (notes, coins, gold, cigarettes, etc.) can be money. All monetary systems are (...)
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  30. Understanding Financial Instability: Minsky Versus the Austrians.Ludwig Van Den Hauwe - 2016 - Journal des Economistes Et des Etudes Humaines 22 (1).
    Although Minsky’s interpretation of Keynes’s macroeconomics and essential message clashes with authoritative alternative interpretations, it has become increasingly influential during the years following the Global Financial Crisis, even in mainstream circles. This paper offers a critical evaluation of Minsky’s Financial Instability Hypothesis from the perspective of the alternative Austro-Wicksellian paradigm. Although some of the similarities and/or analogies between Minsky’s approach and that of the Austrian School suggest a more than merely superficial affinity between the two theoretical frameworks and although some (...)
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  31. Taxation: Its Justification and Application to Global Contexts.Teppo Eskelinen & Arto Laitinen - 2015 - In Helmut P. Gaisbauer, Gottfried Schweiger & Clemens Sedmak (eds.), Philosophical Explorations of Justice and Taxation. National and Global Issues. Springer. pp. 219-236.
    This article focuses on the justification of taxation, in other words the principled rather than the technical aspect of taxation. We first show how democracy is on the one hand required for legitimate taxation, and how on the other hand democratic communities are dependent on taxation, and argue there is no vicious cirle. We then present a typology of ways of justifying taxation, according to which taxation can base its legitimacy on (1) meeting basic needs, (2) financing public goods, (3) (...)
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  32. Is Economic Rationality in the Head?Kevin Vallier - 2015 - Minds and Machines 25 (4):339-360.
    Many economic theorists hold that social institutions can lead otherwise irrational agents to approximate the predictions of traditional rational choice theory. But there is little consensus on how institutions do so. I defend an economic internalist account of the institution-actor relationship by explaining economic rationality as a feature of individuals whose decision-making is aided by institutional structures. This approach, known as the subjective transaction costs theory, represents apparently irrational behavior as a rational response to high subjective transaction costs of thinking (...)
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  33. Herding, Social Influence and Expert Opinion.Michelle Baddeley - 2013 - Journal of Economic Methodology 20 (1):35 - 44.
    (2013). Herding, social influence and expert opinion. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 35-44. doi: 10.1080/1350178X.2013.774845.
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  34. The Road to Serfdom's Economistic Worldview.François Godard - 2013 - Critical Review: A Journal of Politics and Society 25 (3-4):364-385.
    At the end of World War II, F. A. Hayek denounced the then-popular idea of central planning by arguing that, if pursued to its logical conclusion, it would entail totalitarianism. But there were at least two problems. First, judging by his example of Nazi Germany, state control over the economy appears to be a consequence, not a cause, of the monopolization of political power. Second, he conflated socialism and mere interference in the market with central planning. Therefore, history did not (...)
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  35. Performativity of Economic Systems: Approach and Implications for Taxonomy.Carsten Herrmann-Pillath - 2013 - Journal of Economic Methodology 20 (2):139-163.
    The paper proposes to ground the taxonomy of economic systems on the identification of strongly performative institutions as distinctive features. I analyse performativity on the basis of the Aoki model of institutions, enriched by current approaches to performativity, which I combine with Searle's notion of a status function. Performativity is conceived as resulting from the conjunction of public representations (sign systems) and behavioural dispositions which channel strategic interactions among actors such that certain sets of institutions are reproduced recurrently. I apply (...)
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  36. Science-Mart: Privatizing American Science.Tiago Mata - 2013 - Journal of Economic Methodology 20 (1):75 - 81.
    (2013). Science-mart: privatizing American science. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 75-81. doi: 10.1080/1350178X.2013.774858.
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  37. Institutions, Distributed Cognition and Agency: Rule-Following as Performative Action.Carsten Herrmann-Pillath - 2012 - Journal of Economic Methodology 19 (1):21-42.
    Aoki recently proposed the concept of substantive institutions, a concept that relates the outcomes of strategic interaction with public representations of the equilibrium states of games. I argue that the Aoki model can be grounded in theories of distributed cognition and performativity, which I put into the context of Searle's philosophical account of institutions. Substantive institutions build on regularized causal interactions between internal neuronal mechanisms and external facts, shared in a population of agents. Following Searle's proposal of conceiving rule-following as (...)
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  38. The Firm, Property Rights and Methodological Individualism: Some Lessons From J.S. Mill.Amos Witztum - 2012 - Journal of Economic Methodology 19 (4):339-355.
    In modern economics, the firm is a means of overcoming the inefficiencies generated by transaction costs and incomplete contracts. Its boundaries, therefore, are the means by which the efficiency of competition can be salvaged. Whether or not agents feel comfortable with the values which underlie various ownership structures remains outside this theory. Moreover, the working of different ownership structures is entirely based on the presumption that agents' motivation (as opposed to incentives) will remain constant. This, of course, is typical of (...)
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  39. Trustworthiness is a Social Norm, but Trusting is Not.Cristina Bicchieri, Erte Xiao & Ryan Muldoon - 2011 - Politics, Philosophy and Economics 10 (2):170-187.
    Previous literature has demonstrated the important role that trust plays in developing and maintaining well-functioning societies. However, if we are to learn how to increase levels of trust in society, we must first understand why people choose to trust others. One potential answer to this is that people view trust as normative: there is a social norm for trusting that imposes punishment for noncompliance. To test this, we report data from a survey with salient rewards to elicit people’s attitudes regarding (...)
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  40. Making the Social World: The Structure of Human Civilization, John R. Searle, Oxford University Press, 2010, 224 Pages. [REVIEW]Frank Hindriks - 2011 - Economics and Philosophy 27 (3):338-346.
  41. Institutions.C. Mantzavinos - 2011 - In Ian Jarvie Jesús Zamora-Bonilla (ed.), The SAGE Handbook of the Philosophy of Science. London, Thousand Oaks, New Delhi and Singapore: pp. 399-412.
    The article provides an overview of the basic concepts and principles of the theory of institutions as well as of the mechanisms of emergence and evolution of social institutions. It introduces a distinction between formal and informal institutions based on the the criterion of the enforcement agency of institutions. Finally it discusses the problem of path dependence.
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  42. Economic Exchange as an Evolutionary Transmission Channel in Human Societies.Bertin Martens - 2011 - Biological Theory 6 (4):366-376.
    This article argues that the (epi)genetic, cultural, symbolic, and environmental transmission channels are insufficient to explain the structure of modern human societies. Economic exchange of knowledge embodied in goods and services constitutes an additional transmission channel that makes more efficient use of limited human cognitive capacity. Economic exchange results in a gradual shift in societies from task-based division of labor to cognitive specialization. This shifts scarce cognitive resources away from production and into learning. It accelerates learning and reinforces the drive (...)
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  43. What Is Money? An Alternative To Searle's Institutional Facts.J. P. Smit, Filip Buekens & Stan du Plessis - 2011 - Economics and Philosophy 27 (1):1-22.
    In The Construction of Social Reality, John Searle develops a theory of institutional facts and objects, of which money, borders and property are presented as prime examples. These objects are the result of us collectively intending certain natural objects to have a certain status, i.e. to ‘count as’ being certain social objects. This view renders such objects irreducible to natural objects. In this paper we propose a radically different approach that is more compatible with standard economic theory. We claim that (...)
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  44. Norms, Preferences, and Conditional Behavior.Cristina Bicchieri - 2010 - Politics, Philosophy and Economics 9 (3):297-313.
    This article addresses several issues raised by Nichols, Gintis, and Skyrms and Zollman in their comments on my book, The Grammar of Society: The Nature and Dynamics of Social Norms . In particular, I explore the relation between social and personal norms, what an adequate game-theoretic representation of norms should be, and what models of norms emergence should tell us about the formation of normative expectations.
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  45. Governmentality: Current Issues and Future Challenges.Ulrich Bröckling, Susanne Krasmann & Thomas Lemke (eds.) - 2010 - Routledge.
    By assembling authors with a wide range of different disciplinary backgrounds, from philosophy, literature, political science, sociology to medical anthropology ...
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  46. Structure and Change: Douglass North's Economics.Graham A. Brownlow - 2010 - Journal of Economic Methodology 17 (3):301-316.
    Douglass North is a pivotal figure in the development of the ?new? economic history as well as the ?new? institutional economics. However, the relationship between these two aspects of his thinking remains undeveloped in previous critical assessments of North's work. The relationship is clarified here. The evidence presented indicates that three distinct phases can be distinguished in his writings between the 1950s and the 2000s. The paper relates these changing views to the shifting mainstream within economics and the effects that (...)
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  47. The Division of Labour in Science: The Tradeoff Between Specialisation and Diversity.Rogier De Langhe - 2010 - Journal of Economic Methodology 17 (1):37-51.
    Economics is a typical resource for social epistemology and the division of labour is a common theme for economics. As such it should come as no surprise that the present paper turns to economics to formulate a view on the dynamics of scientific communities, with precursors such as Kitcher (1990), Goldman and Shaked (1991) and Hull (1988). But although the approach is similar to theirs, the view defended is different. Mäki (2005) points out that the lessons philosophers draw from economics (...)
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  48. A Neurolinguistic Approach to Performativity in Economics.Carsten Herrmann-Pillath - 2010 - Journal of Economic Methodology 17 (3):241-260.
    What makes institutions ?real?? One central notion has been emerging recently in sociology, which is ?performativity?, a term borrowed from the philosophy of language. I propose a neurolinguistic approach to performativity that is based on John Searle's theory of institutions, especially his concept of a ?status function? and his explanation of rule-following as a neurophysiological disposition. Positing a status function is a performative act. I proceed in two steps to establish the neurolinguistic framework. First, I apply the concept of ?conceptual (...)
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  49. Der Beitrag Erich Hoppmanns.C. Mantzavinos - 2010 - In Viktor Vanberg (ed.), Evolution und Freiheitlicher Wettbewerb. Erich Hoppmann und die aktuelle Diskussion. Tübingen: pp. 23-33.
    Das Werk Erich Hoppmanns wird durch drei Ideen geleitet. Erstens, eine Idee ontologischer Natur, dass der Markt ein komplexes Phänomen ist. Zweitens, eine Idee methodologischer Natur, dass der Markt mittels einer Systembetrachtung analysiert werden soll und nur Erklärungen des Prinzips möglich sind. Drittens, eine Idee normativer Natur, dass die Steuerung des Marktes mittels Regeln erfolgen soll, die gemäß dem regulativen Ideal der Freiheit konzipiert werden müssen.
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  50. PHD Thesis Summary: Intellectual Paths and Pathologies: How Small Events in Scholarly Life Accidentally Grow Big (2009).Altug Yalcintas - 2010 - Erasmus Journal of Philosophy and Economics 3 (1):123-125.
1 — 50 / 128