I examine some behavioural and heuristic models of individual decision-making and argue that the diverse psychological mechanisms these models posit are too demanding to be implemented, either consciously or unconsciously, by actual decision makers. Accordingly, and contrary to what their advocates typically claim, behavioural and heuristic models are best understood as ‘as-if’ models. I then sketch a version of scientific antirealism that justifies the practice of as-if modelling in decision theory but goes beyond traditional instrumentalism. Finally, I relate my account of decision models to the recent controversy about mentalism versus behaviourism, reject both positions, and offer an alternative view.

Behavioural and Heuristic Models are As-If Models Too — and That’s OK

ivan moscati
2024-01-01

Abstract

I examine some behavioural and heuristic models of individual decision-making and argue that the diverse psychological mechanisms these models posit are too demanding to be implemented, either consciously or unconsciously, by actual decision makers. Accordingly, and contrary to what their advocates typically claim, behavioural and heuristic models are best understood as ‘as-if’ models. I then sketch a version of scientific antirealism that justifies the practice of as-if modelling in decision theory but goes beyond traditional instrumentalism. Finally, I relate my account of decision models to the recent controversy about mentalism versus behaviourism, reject both positions, and offer an alternative view.
2024
2023
https://www.cambridge.org/core/journals/economics-and-philosophy/article/behavioural-and-heuristic-models-are-asif-models-too-and-thats-ok/DB912A79B6A5C022E4E6E700D2E22DCC
Neoclassical decision models; behavioral decision models; heuristic decision models; scientific antirealism; mechanistic explanation
Moscati, Ivan
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11383/2146511
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