What Sense Can the Sense-Making Perspective Make for Economics?

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A landscape of interdisciplinary decision theories is sketched with a tentative place for the sense-making approach presented by Salvatore et al (2009). Uncertainty and ambiguity are highlighted as key concepts in both, economics and sense-making perspectives aligning possible and useful conceptual coincidences among post Keynesian economics (Shackle 1974; Davidson 2005) cultural psychology (Salvatore et al. 2009) and organization theory (March 1978, 1994; Weick 1995). Few ideas for the construction of possible research agenda aimed to build a complex model of decision making are suggested. Finally a brief reflection on the study of underground economy is presented. The challenge for the link between psychology and economics is to figure out a descriptive general model of the process of decision making, perhaps by combining weighted elements of the different ways in which human rationality emerges—calculation, rule following, sense-making—for explaining singular and specific decisions.

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