The Individual in Recent Economics: Internalist and Externalist Conceptions

29 Pages Posted: 20 Mar 2008

See all articles by John B. Davis

John B. Davis

University of Amsterdam; Marquette University

Date Written: March 1, 2008

Abstract

This paper examines conceptions of the individual in recent economics (including prospect theory, preference reversal/construction approaches, social preference theory, Bacharach's team view, Ross's neuroeconomics view, and the Sugden/Bruni civil happiness approach). The first three are classified as internalist; the last three as externalist. Internalist conceptions are argued to draw on the standard atomistic view of the individual in economics, itself seen to be circular. The externalist conceptions reviewed here are treated as relational views of individuals, are seen to individuate persons, but encounter problems in explaining individuals as enduring.

Keywords: individual, prospect theory, preference construction, social preference, Bacharach, Ross, civil happiness

JEL Classification: A1, B4

Suggested Citation

Davis, John B. and Davis, John B., The Individual in Recent Economics: Internalist and Externalist Conceptions (March 1, 2008). Available at SSRN: https://ssrn.com/abstract=1109112 or http://dx.doi.org/10.2139/ssrn.1109112

John B. Davis (Contact Author)

Marquette University ( email )

P.O. Box 1881
Milwaukee, WI 53201-1881
United States

University of Amsterdam ( email )

Amsterdam
Netherlands

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