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Pragmatic behaviour: pragmatism as a philosophy for behavioural economics

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Listed:
  • Pablo Garcés

    (Pontifical Catholic University of Ecuador)

Abstract

Behavioral economics offers an account of actual human behavior. Contrasting with the conventional normative approach to rationality, rational choice theory, describes the deviations from optimal decision making. These are attributed to failures in two systems, one in charge of automatic behavior (System 1) and the other responsible for reflective one (System 2). As important as this is, an elaboration of the interaction between them seems to be lacking. Philosophical pragmatism can contribute to address this want. It provides an evolutionary explanation of how people act accounting for the continuity of behavior including habitual and reflective action. The former is captured by habits and the latter directed towards objects. Additionally, it proposes a dialogical self, consisting of an interaction between the 'I', denoting impulse, and the 'me', referring to reflective action. As such, pragmatism can provide fertile ground on which to cultivate behavioral insights.

Suggested Citation

  • Pablo Garcés, 2022. "Pragmatic behaviour: pragmatism as a philosophy for behavioural economics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 15(1), pages 1-34.
    • Handle: RePEc:bus:jphile:v:15:y:2022:i:1:n:1
    DOI: 10.46298/jpe.8741
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    behavioral economics; pragmatism; rationality; agency; transaction; [SHS.PHIL]Humanities and Social Sciences/Philosophy; [SHS.ECO]Humanities and Social Sciences/Economics and Finance;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General

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