6 found
  1. 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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  2.  74
    Developing the Incentivized Action View of Institutional Reality.J. P. Smit, Filip8 Buekens & Stan Du Plessis - 2014 - Synthese 191 (8).
    Contemporary discussion concerning institutions focus on, and mostly accept, the Searlean view that institutional objects, i.e. money, borders and the like, exist in virtue of the fact that we collectively represent them as existing. A dissenting note has been sounded by Smit et al. (Econ Philos 27:1–22, 2011), who proposed the incentivized action view of institutional objects. On the incentivized action view, understanding a specific institution is a matter of understanding the specific actions that are associated with the institution and (...)
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    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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  4. The Incentivized Action View of Institutional Facts as an Alternative to the Searlean View: A Response to Butchard and D’Amico.J. P. Smit, Filip Buekens & Stan du Plessis - 2016 - Philosophy of the Social Sciences 46 (1):44-55.
    In our earlier work, we argued, contra Searle, that institutional facts can be understood in terms of non-institutional facts about actions and incentives. Butchard and D’Amico claim that we have misinterpreted Searle, that our main argument against him has no merit and that our positive view cannot account for institutional facts created via joint action. We deny all three charges.
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    Implications for Models in Monetary Policy.Stan du Plessis - 2010 - Journal of Economic Methodology 17 (4):429-444.
    Monetary authorities have been implicated in the financial crisis of 2007?2008. John Muellbauer, for example, has blamed what he thought was initially inadequate policy responses by central banks to the crisis on their models, which are, in his words, ?overdue for the scrap heap?. This paper investigates the role of monetary policy models in the crisis and finds that (i) it is likely that monetary policy contributed to the financial crisis; and (ii) that an inappropriately narrow suite of models made (...)
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    The Miracle of the Septuagint and the Promise of Data Mining in Economics.Stan Du Plessis - 2009 - In Harold Kincaid & Don Ross (eds.), The Oxford Handbook of Philosophy of Economics. Oxford University Press.