Savage’s response to Allais as Broomean reasoning

Franz Dietrich, Antonios Staras and Robert Sugden
Additional contact information
Antonios Staras: Cardiff University

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Savage famously contravened his own theory when first confronting the Allais Paradox, but then convinced himself that he had made an error. We examine the formal structure of Savage's ‘error-correcting' reasoning in the light of (i) behavioural economists' claims to identify the latent preferences of individuals who violate conventional rationality requirements and (ii) Broome's critique of arguments which presuppose that rationality requirements can be achieved through reasoning. We argue that Savage's reasoning is not vulnerable to Broome's critique, but does not provide support for the view that behavioural scientists can identify and counteract errors in people's choices or preferences.

Keywords: Savage; Allais Paradox; Broome; reasoning; behavioural economics (search for similar items in EconPapers)
Date: 2021-04
References: Add references at CitEc
Citations:

Published in Journal of Economic Methodology, 2021, 28 (2), pp.143-164. ⟨10.1080/1350178X.2020.1857424⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Savage’s response to Allais as Broomean reasoning (2021)
Working Paper: Savage’s response to Allais as Broomean reasoning (2021)
Working Paper: Savage’s response to Allais as Broomean reasoning (2021)
Working Paper: Savage's response to Allais as Broomean reasoning (2020)
Working Paper: Savage's response to Allais as Broomean reasoning (2020)
Working Paper: Savage's response to Allais as Broomean reasoning (2020)
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:hal:cesptp:hal-03261452

DOI: 10.1080/1350178X.2020.1857424

Access Statistics for this paper

More papers in Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL
Bibliographic data for series maintained by CCSD ().