Premium
Katallactic Rationality
Author(s) -
Levy David
Publication year - 1999
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1999.tb03392.x
Subject(s) - rationality , dilemma , economics , prisoner's dilemma , positive economics , epistemology , philosophy
A bstract IS the well‐known finding of experimental economics that talk is correlated with co‐operation in prisoner‐dilemma contexts related to Adam Smith's claim that trade requires language? Using Smith's postulate of the existence of a desire for approbation and the supposition that language carries approbation, we demonstrate how the ability to exchange approbation enhances the rationality of co‐operation.