Revealed preference and external reference

Keith Dowding*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

21 Citations (Scopus)

Abstract

Amartya Sen claims that the standard axioms of rational choice theory are not subject to 'internal consistency'. That is, in order to discover whether someone behaves inconsistently or irrationally one must look beyond the choice function to the actors' motivations. This is true. Intentional explanations require reference to the environment or context in which choice takes place. However, rather than being inconsistent with standard von Neumann-Morgernstern accounts of utility and with revealed preference analysis, as Sen maintains, such externalist arguments show the standard accounts are necessary for intentional explanation.

Original languageEnglish
Pages (from-to)259-284
Number of pages26
JournalRationality and Society
Volume14
Issue number3
DOIs
Publication statusPublished - Aug 2002
Externally publishedYes

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