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Intentions in invisible-hand accounts

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  • Aki Lehtinen

Abstract

N. Emrah Aydinonat's account of the invisible-hand is analysed. One of the conditions for unintended social consequences is it requires that individuals' intentions are exclusively directed at the individual level. This condition is weakened in order to accommodate cases in which individuals may also aim at consequences at the social level but the model clearly depicts the invisible hand. Lehtinen's model of counterbalancing strategic votes is proposed as an example that satisfies Aydinonat's conditions, if they are modified as suggested.

Suggested Citation

  • Aki Lehtinen, 2009. "Intentions in invisible-hand accounts," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(4), pages 409-416.
    • Handle: RePEc:taf:jecmet:v:16:y:2009:i:4:p:409-416
    DOI: 10.1080/13501780903337354
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    References listed on IDEAS

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    1. Lehtinen, Aki, 2008. "The welfare consequences of strategic behaviour under approval and plurality voting," European Journal of Political Economy, Elsevier, vol. 24(3), pages 688-704, September.
    2. Aki Lehtinen, 2007. "The Welfare Consequences of Strategic Voting in Two Commonly Used Parliamentary Agendas," Theory and Decision, Springer, vol. 63(1), pages 1-40, August.
    3. N. Emrah Aydinonat, 2007. "Models, conjectures and exploration: an analysis of Schelling's checkerboard model of residential segregation," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(4), pages 429-454.
    4. Aki Lehtinen, 2007. "The Borda rule is also intended for dishonest men," Public Choice, Springer, vol. 133(1), pages 73-90, October.
    5. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65(2), pages 135-135.
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    Cited by:

    1. Aki Lehtinen, 2011. "A welfarist critique of social choice theory," Journal of Theoretical Politics, , vol. 23(3), pages 359-381, July.

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