Skip to Main content Skip to Navigation
Journal articles

Savage’s response to Allais as Broomean reasoning

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.
Document type :
Journal articles
Complete list of metadata

https://hal-paris1.archives-ouvertes.fr/hal-03261452
Contributor : Umr 8174 Centre d'Économie de la Sorbonne Connect in order to contact the contributor
Submitted on : Tuesday, June 15, 2021 - 5:00:46 PM
Last modification on : Friday, October 15, 2021 - 1:41:08 PM

Links full text

Identifiers

Relations

Citation

Franz Dietrich, Antonios Staras, Robert Sugden. Savage’s response to Allais as Broomean reasoning. Journal of Economic Methodology, Taylor & Francis (Routledge), 2021, 28 (2), pp.143-164. ⟨10.1080/1350178X.2020.1857424⟩. ⟨hal-03261452⟩

Share

Metrics

Record views

66