The Ethics and Economics of Middle Class Romance

This article shows the philosophical kinship between Adam Smith and Mary Wollstonecraft on the subject of love. Though the two major 18th century thinkers are not traditionally brought into conversation with each other, Wollstonecraft and Smith share deep moral concerns about the emerging commercial society. As the new middle class continues to grow along with commerce, vanity becomes an ever more common vice among its members. But a vain person is preoccupied with appearance, status, and flattery—things that get in the way of what Smith and Wollstonecraft regard as the deep human connection they variously describe as love, sympathy, and esteem. Commercial society encourages inequality, Smith argues, and Wollstonecraft points out that this inequality is particularly obvious in the relationships between men and women. Men are vain about their wealth, power and status; women about their appearance. Added to this is the fact that most middle class women are both uneducated and encouraged by the conduct literature of their day to be sentimental and irrational. The combined economic and moral considerations of Wollstonecraft and Smith show that there is very little room for love in commercial society as they conceived it.

     

Probabilistic Mental Models with Continuous Predictors

Gigerenzer and his colleagues have sought to develop psychologically plausible models of human judgment. Their models are classified as ones of bounded rationality based on a principle of one-reason decision making. The models associated with the theory of Probabilistic Mental Models (PMM) have been developed for tasks in which all predictors are binary. This article extends PMM to the case of continuous predictors. The current model employs the limitation on the number of categories people use in making absolute judgments along a single perceptual dimension (7 +/- 2; Miller, 1956). The algorithm transforms each continuous predictor to be consistent with this limitation, then implements a step-down one-reason decision procedure similar to previous PMM models. Like previous PMM models, the 7 +/- 2 model predicts binary judgments as well as a multiple-regression model. However, the model does not successfully predict the probability judgments of individual participants, which is also true of all other models in the literature. Copyright 2000 Academic Press.