Towards a behavioural capability approach: the contribution of behavioural economics to Amartya Sen’s framework

Pablo Garces-Velastegui ()
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Pablo Garces-Velastegui: Instituto de Altos Estudios Nacionales

International Review of Economics, 2023, vol. 70, issue 1, No 5, 120 pages

Abstract: Abstract Amartya Sen’s Capability Approach, elaborated at the intersection of philosophy and economics, is a people-centred framework for the assessment of social states. It provides an account of human beings, their agency, freedom, and well-being. Rationality takes prominence in this account but it is reconsidered as reasoning. Beyond the dominant axiomatic account, this entails subjecting one’s choices and preferences to critical scrutiny. It focuses, thus, on reflective action only and lacks an explanation of people’s failures to achieve welfare outcomes. An account of non-reasoning action and of human fallibility, in reflective and non-reflective action, is absent. Both are significant for a freedom-centred and agency-oriented approach. Behavioural economics, accounting for systematic deviations from optimal behaviour both in impulsive and deliberate action, can provide a useful complement. Such a step towards a behavioural capability approach enriches the CA’s internal conversion factors, expanding the notion of rationality, and external conversion factors, adding choice architecture.

Keywords: Agency; Behavioural economics; Capability; Freedom; Rationality (search for similar items in EconPapers)
JEL-codes: D01 D9 I3 O15 Z18 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s12232-023-00411-0

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