action

In economic systems, action changes the states of actors (in other words, action that leaves states unchanged is no economic action). In networks, the fundamental actions are >transactions, >communication and >perception. Actions are chosen by actors based on their >capacity, which in bimodal terms can be analyzed into referential and non-referential knowledge. Hence, action is rule-governed. On a more detailed level of analysis, action is based on the endowment of actors with different kinds of >capital implying >rights of action in networks.

This means that EE rejects the rational choice paradigm as an exclusive approach in understanding human action. Even if actors take a deliberative decision, they may face conflicting motives and drives, so that the final decision is not an optimizing one. Action is reasonable, but not rational (>reason). A common ground between EE and standard economics is the concept of >opportunity costs, in the sense of actors weighing the relative losses resulting from choosing one action over others. However, this principle is reflective, that is, actors also consider the value of different decision procedures. As a result, even in the case of opportunity cost considerations, actions are rule-governed, and not consequentialist. >Opportunity costs, furthermore, are a long-run determinant of the evolutionary emergence of rules of action, and need not be reduced on individual calculations exclusively.

Basic References
The concept of action in EE owes much to American pragmatism:
On pragmatism

Semantic Field
actor   capacity
decision   action
transaction   communication   perception