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Theory of Attribution I: Correspondent Inference Theory01:15

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Correspondent inference theory, proposed by Jones and Davis in 1965, seeks to explain how individuals infer stable personality traits from observed behaviors. It suggests that people attribute actions to underlying dispositions rather than external circumstances, particularly when the behavior appears intentional and socially significant.Voluntary Behavior and Dispositional AttributionAccording to this theory, individuals are more likely to attribute behavior to personal traits when it appears...
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Attribution theory plays a crucial role in social psychology, helping to explain how individuals interpret the causes of behavior. One prominent model within this field is Harold Kelley's covariation theory, which provides a systematic approach to determining whether internal traits or external circumstances drive a person's actions. The model posits that individuals rely on three key types of information—consensus, consistency, and distinctiveness—to make these judgments.Consensus:...
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How revealed preference theory can be explanatory.

Travis Holmes1

  • 1University of Missouri-Columbia, 438 Strickland Hall, Columbia, MO 65201, USA.

Studies in History and Philosophy of Science
|November 21, 2021
PubMed
Summary
This summary is machine-generated.

This study proposes a novel approach to framing agential preferences in economics, balancing predictive power with model simplicity. It suggests viewing revealed preference models as program explanations to overcome existing theoretical limitations.

Keywords:
ModelsProgram explanationRational choice theoryRevealed preferences

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Area of Science:

  • Behavioral Economics
  • Decision Theory
  • Economic Modeling

Background:

  • Revealed preference theory faces challenges in balancing predictive accuracy with explanatory depth.
  • Minimalist preference frameworks risk losing predictive and explanatory power.
  • Overly complex preference models compromise model simplicity and generality.

Purpose of the Study:

  • To propose a middle-ground approach for framing agential preferences in economics.
  • To reconcile the trade-offs between preference model complexity and utility.
  • To enhance the explanatory and predictive capabilities of revealed preference models.

Main Methods:

  • Conceptual analysis of preference framing in economic models.
  • Critique of minimalist and overly complex approaches to revealed preference theory.
  • Proposal of an alternative framework for understanding revealed preference models.

Main Results:

  • A balanced approach to preference framing is achievable.
  • Viewing revealed preference models as program explanations offers a viable solution.
  • This perspective addresses limitations in predictiveness and explanatory power.

Conclusions:

  • A nuanced understanding of revealed preference models as program explanations is crucial.
  • This approach enhances the theoretical and practical utility of economic preference models.
  • The proposed framework offers a path to overcome the Scylla and Charybdis of preference framing.