The central focus of my research is the problem of creativity. An understanding of creativity is central to the study of imagination, desire, innovativeness, entrepreneurship, and the nature of organization. The standard theory of rationality has been very effective in explaining market dynamics and institutions ranging from norms to laws and governance structures. However, standard theory is greatly malnourished when it comes to the study of creativity. This is why my focus on creativity has led me to the study of behavioral economics, and the issues that define the thrust of this field.
Many of the supposed deviations from rationality might not be the result of the more “traditional” explanations used in behavioral economics. Such explanations include weakness of will, errors in applying general rules, or bounded rationality. The supposed “irrationalities” might, in fact, be related to the issue of aspiration, desire, or, in short, creative action. My approach is based on the reconstruction of rational choice theory in such a way so as to account for creative action. This focus has led me to the study of the nature of beliefs and the limits of Bayesian updating—especially concerning how scientific beliefs differ from religious beliefs and how, in turn, both differ from superstitions. Also, this focus has led me to the study of the relationship between creative action and the origin of habits and, in turn, how both are related to the evolutionary process. Furthermore, this focus has led me to the study of the nature of authority in organizations ranging from the firm to the state.
Publications
My papers are usually inter-disciplinary. They have appeared in journals such as Southern Economic Journal, Economic Inquiry, Kyklos, Theory and Decision, and Journal of Economic Behavior and Organization.