ECONOMIC AGENCY THROUGH MODULARITY THEORY

Abstract

Economic agency as a matter of rational decision-making and as a problem of bounded rationality has never gone too far from its earlier formalization in the 1950s. Not that the advancement on this topic is so slow, but the same problem concerning higher level cognition as another general program of cognitive science is not as easy as behavioral studies. This paper will show a parallelism between economic agency and folkpsychological perspective, and in turn will give a short description on how folk psychology is unseparable from modularity theory. In short, then there must be a way to cope with cognition as the black box of economics if we can identify the appropriate level of description of cognitive structure, i.e.: modularity theory.bounded rationality, folk psychology, modularity theory