Modeling “Axiological Rationality” in Economics: A Tedious Challenge

Daniel Serra () and Adda Benslimane ()
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Daniel Serra: CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier
Adda Benslimane: CORHIS - Communication, Ressources Humaines et Intervention Sociale - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia

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Abstract: Is it possible to reconcile morality and rational behavior in economics? One interesting approach is to postulate that individuals are endowed with "axiological" rationality and not just "instrumental" rationality. The purpose of this article is to identify the main models in contemporary economic literature that seek to answer this delicate question in the affirmative by referring explicitly or implicitly to this concept. The article divides this literature into two sections: one covers models that treat morality as a normative concern (normative economics perspective), while the other covers models that treat morality as a social fact (positive economics perspective). The strengths and weak- nesses of these alternative models are evaluated in the light of their respective ambitions.

Keywords: Social preference; Morality; Moral preference; Cooperation; Social emotions; Behavioral game theory; Hierarchical preferences; Multiple utility; Kantian equilibrium; Axiological rationality; Rational choice; Altruism (search for similar items in EconPapers)
Date: 2026
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Published in Revue d'économie politique, In press, 136 (2)

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05620020

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