Axiomatic Choice Theory Traveling between Mathematical Formalism, Normative Choice Rules and Psychological Measurement, 1944-1956

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. [1944][1945][1946][1947][1948][1949][1950][1951][1952][1953][1954][1955][1956] by Catherine Herfeld Choice Rules and Psychological Measurement, 1944-1956 June 2013 Catherine Herfeld Draft 1.0 (Please do not cite without the author's permission) Terms of use: Documents in EconStor may AbstractThe following analysis is meant to contribute to a history of rational choice theory. More specifically, I provide a multi-layered account of rational choice theory in terms of its biography as a scientific object. I argue that its axiomatic version, choice theory traveled between different research sites, specified within the context of different mathematical formalisms and occupying different epistemic functions; it was being applied to prescribe rules of proper behavior, as representation of behavioral hypotheses, and as measurement device to capture individual values. New modifications of what I call 'axiomatic choice theory' did not fully replace old versions of it, which prevents the reconstruction of its 'travels' as a continuous process and acknowledges the different versions of axiomatic choice theory that are currently used in the social sciences, particularly in economics. Furthermore, by revealing the diversity of its manifestations within the context of social networks and within particular research sites, the account of axiomatic choice theory developed here will ultimately contributes to an explanation of the disunity and confusion surrounding current debates about rational choice theory and allows for providing a more nuanced picture of its nature and scope. Jacob Marschak's professional development is used as a guide through this history of axiomatic choice theory to illustrate its journey. JEL classification: B2, B3, B 21Keywords: axiomatic method, Jacob Marschak, rational choice theory, Cowles Commission, expected utility theory, biographies of scientific objects, behavioral sciences, Ford Foundation, John von Neumann, Oskar Morgenstern, game theory. 3 Disunity about Rational Choice TheoryIn this paper, I provide the first sketch of a narrative that traces axiomatic choice theory developed by von Neumann and Morgenstern and how it traveled through the Cowles Commission in the 1940s and 1950s. The paper is part of a larger project that aims to contribute to the formulation of a history of rational choice theory. Ever since the inception of the discipline of economics, the traditional rationality-principle has been of interest for methodologist.1 ...