Toward a transactional theory of decision making: creative rationality as functional coordination in context

Shabnam Mousavi and Jim Garrison

Journal of Economic Methodology, 2001, vol. 10, issue 2, 131-156

Abstract: This paper poses a Deweyan challenge to both the neoclassical framework of rational choice and models of bounded rationality and deliberation, especially the procedural theory of rationality advanced by Herbert Simon. We demonstrate how modern theories on procedural or instrumental rationality trace their origin to the tradition of British empiricism, especially the philosophy of David Hume. Most theories of action such as Simon's assume actors may control their bodies 'at will.' For Dewey, habits are will; we control them when we identify them and condition them through reflective deliberation. To clarify our Deweyan critique, we use empirical research on consumer's use of mathematical calculation in supermarkets, by Jean Lave, which rejects calculative Turing machine rationality. We argue that a theory that can deal with deliberation regarding incommensurable values better explains economic behavior in the everyday marketplace. Thus, economists would do better to concentrate on social practices in specific contexts and the neurophysiological basis of need and desire.

Keywords: Incommensurable Values; Embodiment; Bounded Rationality; Non-teleological Intentionality; Deliberation (search for similar items in EconPapers)
Date: 2001
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/1350178032000071039 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:jecmet:v:10:y:2001:i:2:p:131-156

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJEC20

DOI: 10.1080/1350178032000071039

Access Statistics for this article

Journal of Economic Methodology is currently edited by John Davis and D Wade Hands

More articles in Journal of Economic Methodology from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().