Facing R. Sugden's criticism of our interpretation, it is shown in this paper that rationality appears as a possible consequence of Hume's theory of choice. We first argue that Sugden's dismissal of the preference relation from the type of rationality through which Hume's theory is apprehended,...

The purpose of this paper is to introduce explicitly pleasure and belief in what aims at being a Humean theory of decision, like the one developed in Diaye and Lapidus (2005a). Although we support the idea that Hume was in some way a hedonist – evidently different from Bentham's or Jevons' way...

For the reader who considers economic theory of choice as a special case of a more general theory of action, Hume's discussion of the determinants of action in the Treatise of Human Nature (1739-1740), in the Enquiry on Human Understanding (1748), and in the Dissertation on Passions (1757),...

The purpose of this paper is to introduce explicitly pleasure and belief in what aims at being a Humean theory of decision, like the one developed in Diaye and Lapidus (2005a). Although we support the idea that Hume was in some way – evidently different from Bentham's or Jevons' way – a...

Based on Hume's major philosophical works and on some of his Essays, this paper discusses formally the feasibility, from a Humean point of view, of a welfare policy which would aim at promoting the highest individual happiness whereas individual decisions, like individual happiness, are...

[eng] The property of money : theory of interest and doctrine of usury. . Drawing on the writings of thirteenth century theologists and canonists, the purpose of this article is to focus on the main aspects of the theory of interest underlying the prohibition of usury. Thus, it can be shown that...

Information and Risk in the Medieval Doctrine of Usury during the Thirteenth Century

The few pages that Adam Smith devoted to lotteries, mainly in the Wealth of Nations (1776) did not receive much attention. They nonetheless constituted an opportunity to introduce a sophisticated analysis of individual decision under risk. Through various examples, Smith pointed out a...

This paper provides a general framework for a unifying treatment of stochastic dominance of any degree and of any type (direct or inverse for each final or intermediary level). It gives the conditions for the congruence between stochastic dominance and classes of utility functions in this...