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Examples
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He is particularly renowned for developing the consequences of "rational expectations" among economic agents, according to which these exploit all available information and do not make systematic expectational mistakes.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1969-2006 2010
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But this trust, on the expectational view, is the source of my obligation to do what I promise.
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In the last 20 years, Scanlon has outlined a comprehensive and detailed version of expectational promissory theory.
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Scanlon's theory is taxonomically interesting, in that while he adopts an expectational theory of promissory obligation, his underlying normative theory is straightforwardly contractualist.
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Another traditional problem for expectational views is a charge of circularity (cf. Robins 1979, Prichard 1940, Warnock 1971).
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There are a number of criticisms and objections in the literature to the expectational approach to promissory obligations (in addition to the ones above focused more specifically on the act utilitarian version of it).
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Austin's linguistic distinction mirrors the crucial difference between the expectational and conventional theories of promising.
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Another traditional set of problems with the expectational approach is their difficulty in handling cases where the expectations that normally attend a promise are lacking.
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These and other considerations argue for a theory of promises based on expectations and reliance, i.e., an expectational theory, as opposed to one based on conventions or natural duties, and this is what a number of philosophers and legal theorists have done.
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The problem for the expectational view is that the promisee, on such a view, can't rely on the fact of the promissory obligation as a reason to trust, since on this view that obligation rests on the prior fact of the trust itself.
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