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The return of Ulysses´: Notes on the Logic of Plans and Commitments

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  • Ana Maria Bianchi
  • Roberta Muramatsu

Abstract

This paper criticizes the conventional theory of choice for being grounded on a minimal set of rationality axioms. We claim that this theory does not take due account of the fact that agents are driven by motives other than the pursuit of material self-interest. Our departure point is logic of commitments and planned action, which helps us to identify some puzzles in the conventional theory of choice. As a way out, we discuss the Kantian perspective and the notions of metapreference and metaranking. We then build a model of choice which points to the possibility of a systematic treatment of higher order preferences and incommensurable objectives. JEL Classification: B41, D01.

Suggested Citation

  • Ana Maria Bianchi & Roberta Muramatsu, 2005. "The return of Ulysses´: Notes on the Logic of Plans and Commitments," Brazilian Journal of Political Economy, Center of Political Economy, vol. 25(2), pages 23-44.
    • Handle: RePEc:ekm:repojs:v:25:y:2005:i:2:p:23-44:id:629
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/629/627
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    More about this item

    Keywords

    Rationality; Commitments; Metapreferences;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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