This essay argues that shifts in patronage for the postwar behavioral and social sciences were linked intimately to both intellectual and institutional changes. This broad argument comprises two subarguments: first, that there were in fact two distinct, successive patronage systems for postwar social science—not one, as is commonly assumed; and, second, that the first postwar patronage system played a major role in enabling a series of behavioral revolutions and interdisciplinary syntheses across the social sciences, while the second postwar patronage system (...) encouraged the development of specialized concepts, techniques, and technologies within the disciplines. The essay also suggests that the widespread concern among social scientists in the 1970s and 1980s that their fields were fragmenting was at least in part an unintended consequence of the rise of the second system. (shrink)

This article is about the relationship between business and ethics in academic research. The purpose of this investigation is to examine the status of the separation and the integration theses. In the course of this article, I defend the claim that neither separation nor integration is entirely accurate; indeed they are both potentially confusing to our audience. A strategy of reconciliation of normative and descriptive approaches is proposed. The reconciliation project does not entail synthesizing or dividing prescriptive and empirical approaches, (...) but rather respecting the identity of both inquiries, while recognizing the limitations they place on each other. The research agenda of the reconciliation project is discussed. (shrink)

Sen’s “The Impossibility of a Paretian Liberal” was meant to crystallize his fundamental criticism against the welfaristic basis of welfare economics in general, and social choice theory in particular. This paper vindicates Sen’s criticism, arguing that its logical relevance is not lost in light of recent criticisms against his method of articulating individual rights in terms of a person’s decisive power in social choice. We show that some recent proposals that Sen’s articulation failed to capture a strong libertarian tradition of (...) free contract and that an appropriate formulation of this tradition wipes off the Sen impossibility cannot be sustained. We then show that the game form articulation of rights casts serious doubts on the Sen articulation of liberty, but the Sen impossibility strenuously comes back in the context of realizing conferred game form rights as well as in the context of initial conferment of game form rights. (shrink)

There are, broadly speaking, two ways to think about rationality, as defined in the following passage: ‘Reason’ for a long time meant the activity of understanding and assimilating the eternal ideas which were to function as goals for men. Today, on the contrary, it is not only the business but the essential work of reason to find means for the goals one adopts at any given time. To use what Horkheimer called objective reason, and what others have called expressive or (...) non–instrumental reason, is to reflect on one's goals, to attempt to determine what preferences one ought to hold. On the other hand, to use what Horkheimer called subjective reason is to ‘be concerned with means and ends, with the adequacy of procedures for purposes more or less taken for granted’, that is, to be instrumentally rational. This contrast between non-instrumental and instrumental reason is at the heart of many contemporary social and philosophical disputes. 1. (shrink)

Abstract In this paper, I argue that the traditional philosophical approach of taking cognitively and emotionally competent adult people to be the prototypical instances of agency should be revised in light of current work in the behavioral sciences. Logical consistency in application is better served by taking simple goal-directed and feedback-governed systems such as insects as the prototypes of the concept of agency, with people being agents ?by extension? in the same sense as countries or corporations.

Three things must be clarified before we can proceed with the examination. These are the terms sustainability, politics and megatrend. Unfortunately, all three are ambiguous and few disciplines have arrived at a consistent definition for any of them. While we will not resolve the ambiguity to everyone's satisfaction, we will attempt to achieve an extensional bargain (Rappaport, 1953) through which we develop an understanding of how we are using the terms. First, sustainable development became a construct in 1987 through the (...) Brundtland Report (Brundtland, 1987) and has remained ambiguous ever since. This is where we begin our examination of sustainable consumption. Megatrend, as a phenomenon, has been defined in a multitude of ways over the past thirty-five years. In this chapter, we adopt the criteria set forth by Mittelstaedt et al. (2014) for categorising megatrends, but will use a broader interpretation of what constitutes megatrends. Finally, our use of the term political will be broader than the more common use of the term relating to legal structures, laws or agencies, and include the underlying institutions that frame the more micro aspects of politics. This approach is necessary because of the scale of sustainability and megatrends in both time and space. (shrink)

In the methodology of scientific research programs (MSRP) there are important features on the problem of prediction, especially regarding novel facts. In his approach, Imre Lakatos proposed three different levels on prediction: aim, process, and assessment. Chapter 5 pays attention to the characterization of prediction in the methodology of research programs. Thus, it takes into account several features: (1) its pragmatic characterization, (2) the logical perspective as a proposition, (3) the epistemological component, (4) its role in the appraisal of research (...) programs, and (5) its place as a value for scientific research. -/- The notion of “novel facts” is highly relevant in his conception, where several aspects are involved: the directions of novel facts, the different kinds of novelty, and the transition from six possible options of “novel facts” to four choices. Thereafter, the prediction of novel facts as the criterion of appraisal is considered. On the one hand, this requires analyzing the theoretical, empirical, and heuristic possibilities of appraisal; and, on the other, whether there is an overemphasis on the role of prediction in methodology of scientific research programs. As a consequence, there is an analysis of Lakatos’ criterion of appraisal in MSRP and economics. (shrink)

Suppose that you prefer A to B, B to C, and C to A. Your preferences violate Expected Utility Theory by being cyclic. Money-pump arguments offer a way to show that such violations are irrational. Suppose that you start with A. Then you should be willing to trade A for C and then C for B. But then, once you have B, you are offered a trade back to A for a small cost. Since you prefer A to B, you (...) pay the small sum to trade from B to A. But now you have been turned into a money pump. You are back to the alternative you started with but with less money. This Element shows how each of the axioms of Expected Utility Theory can be defended by money-pump arguments of this kind. The Element also defends money-pump arguments from the standard objections to this kind of approach. This title is also available as Open Access on Cambridge Core. (shrink)

In the history of liberal theories of property, the predominant model deduces a right to highly unequal amounts of property from a premise that the person is primarily independent and self‐determined. But modem social theory, communitarianism and critical legal theory have generated strong support for an alternative premise of social self‐determination of the person. These theories have not, however, adequately explored the logical implications of social personality for the justifiable degree of equality of income under property right. This study reasons (...) a right to some significant equalization of income from a premise that the individual is socially self‐determined. The supporting argument develops a different concept of social personality than found in prevailing social and communitarian theories. With regard to property, it is particularly important to conceptualize the formation of the individual by and within the system of economic relations. The personological premises are also developed differently from Marx's analysis, which overemphasizes the production side of the economy. The present analysis examines the individual in the consumption side as well. But in contrast to the subjective‐individualist conception of the consumer in neoclassical economic theory, we will utilize a conception of socially self‐determined consumer wants and self‐seeking. This social‐personological premise proves to have strong egalitarian implications for the distribution of income under property rights. (shrink)

This paper traces the intellectual trajectories of the first stand-alone theories of action, understood as both axiologically neutral and quasi-scientific from a methodological point of view. I argue that the rise of action theory of this kind corresponds to a particular moment of dissatisfaction within Western thought, and as such, it tells us far more about the history of philosophy than the subject itself. I conclude by explaining why subsequent failures to provide an acceptable theory of action are not accidental. (...) On the contrary, such failures owe themselves probably to the fact that formulating a theory of action is neither propitious nor useful. Thus, the most valuable lesson we can learn from philosophical desires for a theory of action is that we should take co-action as the starting point in our normative investigations, rather than positing action simpliciter as a problem to solve. That is, we should move away from propounding a theory of action, and instead focus on a paradigm shift, whereby we move away from a representational, towards a co-actional, model of action. (shrink)

This article reexamines the rational choice or economic approach to human studies. Its adherents claim that its extension beyond its original domain to all human behavior can finally lead to integration of the human studies, especially social theory, and thus their elevation from what they see as a chaotic state. Specifically, they propose grounding human studies on the premise that humans are rational egoists or self-interested utility maximizers. Although this premise has been the conceptual foundation of orthodox economic theory, it (...) has been questioned, and even in part discredited in its heterodox versions. This reexamination casts serious doubts on such claims. (shrink)

The paper addresses the ‘rational choice only’ reconstruction, characterization, and interpretation of classical and neoclassical economics. It argues that such a reconstruction is inaccurate failing to do justice to the dual theoretical character of classical/neoclassical economics. The paper instead proposes and shows that the latter involves not only elements of ‘rational choice theory’ but also those of an alternative conception. It identifies various and important ideas, observations, and implications of irrational choice and action within classical/neoclassical economics. One class of such (...) ingredients involves forms, expressions, and cases—i.e. specification and classification—of irrational choices in the economy. Another class comprises the social and other factors—i.e. economic sociology or social economics—of irrational choices in the economy. The paper’s intended contribution is to help identify and clarify the extant sources and alternatives of rational choice theory in conventional economics.... (shrink)

Behavioral economics focuses mainly on how limitations of the human cognitive apparatus, risk attitudes, and human sociality affect decision making. The former two lead to deviations from rationality standards, the latter to deviations from rational self-interest. Some of these research interests are also shared by evolutionary psychology which, however, explains the observed deviations by features of the human genetic endowment conjectured to have evolved under fierce selection pressure in early human phylogeny. Important as the decision-making theoretical perspective of the two (...) disciplines is, it will be claimed to be too narrow to fully account for what an evolutionary approach has to say about economic behavior. This is particularly true regarding the questions of what choices are made and what causes them, i.e., the motivational aspects of behavior. In the language of economics this points to the agents’ preferences. This article discusses how preferences relate to the human genetic endowment, how they can change over time, and what conclusions have to be drawn from extending the analysis to the motivational side. (shrink)

The ArgumentIn the minds of many, the Bourbakist trend in mathematics was characterized by pursuit of rigor to the detriment of concern for applications or didactic concessions to the nonmathematician, which would seem to render the concept of a Bourbakist incursion into a field of applied mathematices an oxymoron. We argue that such a conjuncture did in fact happen in postwar mathematical economics, and describe the career of Gérard Debreu to illustrate how it happened. Using the work of Leo Corry (...) on the fate of the Bourbakist program in mathematics, we demonstrate that many of the same problems of the search for a formalstructurewith which to ground mathematical practice also happened in the case of Debreu. We view this case study as an alternative exemplar to conventional discussions concerning the “unreasonable effectiveness” of mathematics in science. (shrink)

Biology arises from the crowded molecular environment of the cell, rendering it a challenge to understand biological pathways based on the reductionist, low‐concentration in vitro conditions generally employed for mechanistic studies. Recent evidence suggests that low‐affinity interactions between cellular biopolymers abound, with still poorly defined effects on the complex interaction networks that lead to the emergent properties and plasticity of life. Mass‐action considerations are used here to underscore that the sheer number of weak interactions expected from the complex mixture of (...) cellular components significantly shapes biological pathway specificity. In particular, on‐pathway—i.e., “functional”—become those interactions thermodynamically and kinetically stable enough to survive the incessant onslaught of the many off‐pathway (“nonfunctional”) interactions. Consequently, to better understand the molecular biology of the cell a further paradigm shift is needed toward mechanistic experimental and computational approaches that probe intracellular diversity and complexity more directly. Also see the video abstract here https://youtu.be/T19X_zYaBzg. (shrink)

Resumen: En el presente artículo se realiza una comparación crítica de dos enfoques sobre los fundamentos de la teoría microeconómica del comportamiento del consumidor, a saber: el enfoque utilitarista y el de la preferencia revelada. Se lleva a cabo un análisis de la preferencia revelada en el contexto de la introducción de restricciones a la función de elección en la teoría de la decisión. Se evalúan sus ventajas y limitaciones en contraste con el problema de la utilidad propio del punto (...) de vista subjetivista de la teoría utilitarista. Y se confronta la capacidad explicativa de los distintos modelos de agencia racional sobre las bases de las curvas de demanda. Asimismo, se desarrolla una crítica formal al método de la preferencia revelada en entornos estratégicos de decisión.: This article makes a critical comparison of two approaches to the foundations of the microeconomic theory of consumer behavior, namely: the utilitarian approach and that of the revealed preference theory. An analysis of revealed preference is carried out in the context of introducing restrictions to the choice function in decision theory. Its advantages and limitations are evaluated in contrast to the utility problem proper to the subjectivist point of view of utilitarian theory. And the explanatory capacity of the different models of rational agency is confronted on the bases of the demand curves. Furthermore, a formal critique of the revealed preference method is developed in strategic decision-making environments. (shrink)

Moral dilemmas have long been debated in moral philosophy without reaching a definitive consensus. The majority of value pluralists attribute their origin to the incommensurability of moral values, i.e. the statement that, since moral values are many and different in nature, they may conflict and cannot be compared. Neuroscientific studies on the neural common currency show that the comparison between allegedly incompatible alternatives is a practical possibility, namely it is the basis of the way in which the agent evaluates choice (...) options. Indeed, both in economic and moral decision-making, the value of options is represented and directly compared in the ventromedial prefrontal cortex. Therefore, we contend that moral dilemmas do not originate from value incommensurability and, on the basis of the neuroscientific discoveries on the neural currency, we derive the implications for the philosophical debate on moral dilemmas. We also provide a possible connection between the experience of moral dilemmas and their neural representation: one of the causes of the individual’s indecision is the neural tie, i.e. the condition in which two options have the same value at neural level, and her regret could be due to the motivational force of the rejected option that is still signalled by affective processes in the brain. We apply this interpretation and the common currency hypothesis to vocational decisions and propose that, although from the agent’s perspective the options are qualitatively different, they may be nevertheless equivalent at neural level. This can be seen as a reason for downgrading the importance commonly attributed to the risk of making the “wrong choice”. (shrink)

Some economists, notably Gary Becker, claim that economic analysis is applicable to any decision, ethical or otherwise. Ethical principles within Objectivist Ethics are based on long-range success— life being the measure of success. This paper examines these different approaches to decision-making. Decision theory and Rand's Benevolent Universe Premise form the basis for the analysis.

In The Crisis of Global Capitalism, George Soros claims that the international financial economy is inherently unstable, and that while economists have failed to recognize this because of their commitment to static equilibrium theory, politicians have failed to stabilize the global economy because of their commitment to an unquestioned faith in the complete efficiency of laissez faire. While Soros is right to argue that market participants’ expectations about the future can cause instability, he is wrong to maintain that this has (...) gone unrecognized by economists, and his notion that we live in a world of economic laissez faire is equally mistaken. Indeed, his own analysis of the Asian financial crisis points to the “moral hazard” created by expectations of government intervention, rather than to laissez faire, as the culprit. (shrink)

Liberals have often been attracted by contractarian modes of argument— and with good reason. Any system of social organization requires that some constraints be imposed on individuals' freedom of action; it is a central problem for any liberal political theory to show which constraints can be justified, and which cannot. A contractarian justification works by showing that the constraints in question can be understood as if they were the product of an agreement, voluntarily entered into by every member of society. (...) Thus, no one is required to give up his freedom for someone else's benefit, or in the pursuit of someone else's conception of the social good. (shrink)

Individual rationality, or doing what is best for oneself, is a standard model used to explain and predict human behavior, and von Neumann–Morgenstern game theory is the classical mathematical formalization of this theory in multiple-agent settings. Individual rationality, however, is an inadequate model for the synthesis of artificial social systems where cooperation is essential, since it does not permit the accommodation of group interests other than as aggregations of individual interests. Satisficing game theory is based upon a well-defined notion of (...) being good enough, and does accommodate group as well as individual interests through the use of conditional preference relationships, whereby a decision maker is able to adjust its preferences as a function of the preferences, and not just the options, of others. This new theory is offered as an alternative paradigm to construct artificial societies that are capable of complex behavior that goes beyond exclusive self interest. (shrink)

The reception so far of Kitcher's Vaulting Ambition reminds me of the old saw about the difference between an optimist and a pessimist. Looking at the same glass of water, the former sees it as half full while the latter sees it as half empty. Some have seen Kitcher's book as a vindication of the possibility of an evolutionary science of human behavior; others have seen it as a devastating critique of the most influential efforts to date to construct such (...) a science. As in the joke about the water glass, both assessments have their point. Sociobiology is a research program, not a unified theory. What one can do is test particular hypotheses within this program and see whether they live up to reasonable standards of rigor and evidence. This is what Kitcher does, with great energy and care. (shrink)

The examples and concepts that Shoemaker cites are rather heterogeneous. Some distinctions need to be drawn. An optimality thesis involves not just an ordering of options, but a value judgment about them. So let us begin by distinguishing minimality from optimality. And the concept of minimality can play a variety of roles, among which I distinguish between extremum descriptions, statements hypothesizing an optimizing process, and methodological recommendations. Finally, I consider how the three categories relate to Shoemaker’s question that “Who is (...) optimizing: the scientist or nature?” . (shrink)