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Chapter
Knowledge and Preference
DOI link for Knowledge and Preference
Knowledge and Preference book
Knowledge and Preference
DOI link for Knowledge and Preference
Knowledge and Preference book
ABSTRACT
Two main structural features of actors can explain economic behavior – in so far as it depends on actors: what they know and are capable of doing (knowledge and competence) and what they want (their preferences and interests). These two elements substantiate the identity of an actor – the response to the questions: Who am I? What can I do? What do I wish to do? – whether the actor is individual or collective. In this perspective, an entity can be treated as an actor if it perceives itself as, or acts as if it were, on a certain matter, a unit of preference and knowledge.1 Figure 1.1 outlines the conceptual structure of the chapter.