The New Microeconomics: A Psychological, Institutional, and Evolutionary Paradigm with Neoclassical Economics as a Special Case
Author
Abstract
Suggested Citation
DOI: 10.1111/ajes.12260
Download full text from publisher
References listed on IDEAS
- Andrei Shleifer, 1998.
"State versus Private Ownership,"
Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 133-150, Fall.
- Andrei Shleifer, 1998. "State Versus Private Ownership," NBER Working Papers 6665, National Bureau of Economic Research, Inc.
- Shleifer, Andrei, 1998. "State versus Private Ownership," Scholarly Articles 33077889, Harvard University Department of Economics.
- Andrei Shleifer, 1998. "State Versus Private Ownership," Harvard Institute of Economic Research Working Papers 1841, Harvard - Institute of Economic Research.
- Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 547-575, October.
- Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
- Amadae, S.M., 2003. "Rationalizing Capitalist Democracy," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226016535, September.
- John Foster, 2021.
"The US consumption function: a new perspective,"
Journal of Evolutionary Economics, Springer, vol. 31(3), pages 773-798, July.
- Foster, John, 2018. "The Consumption Function: A New Perspective," MPRA Paper 84383, University Library of Munich, Germany.
- John Foster, 2019. "The Us Consumption Function: A New Perspective," Discussion Papers Series 606, School of Economics, University of Queensland, Australia.
- Earl, Peter E., 2015.
"Anchoring in economics: On Frey and Gallus on the aggregation of behavioural anomalies,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-25.
- Earl, Peter E., 2014. "Anchoring in economics: On Frey and Gallus on the aggregation of behavioural anomalies," Economics Discussion Papers 2014-37, Kiel Institute for the World Economy (IfW Kiel).
- John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
- Geoffrey Hodgson, 2010. "Choice, habit and evolution," Journal of Evolutionary Economics, Springer, vol. 20(1), pages 1-18, January.
- Robert J. Shiller, 2017.
"Narrative Economics,"
American Economic Review, American Economic Association, vol. 107(4), pages 967-1004, April.
- Robert J. Shiller, 2017. "Narrative Economics," Cowles Foundation Discussion Papers 2069, Cowles Foundation for Research in Economics, Yale University.
- Robert J. Shiller, 2017. "Narrative Economics," NBER Working Papers 23075, National Bureau of Economic Research, Inc.
- Brendan Markey-Towler, 2017. "How to win customers and influence people: Ameliorating the barriers to inducing behavioural change," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 1(S), pages 27-32, November.
- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
- Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
- R. M. Harstad & R. Selten, 2014.
"Bounded-rationality models:tasks to become intellectually competitive,"
Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 5.
- Ronald M. Harstad & Reinhard Selten, 2013. "Bounded-Rationality Models: Tasks to Become Intellectually Competitive," Journal of Economic Literature, American Economic Association, vol. 51(2), pages 496-511, June.
- Anderson, Gary M & Boettke, Peter J, 1993. "Perestroika and Public Choice: The Economics of Autocratic Succession in a Rent-Seeking Society," Public Choice, Springer, vol. 75(2), pages 101-118, February.
- Henin, Pierre-Yves & Michel, Philippe, 1982. "Harrodian and neoclassical paths in a constrained growth model," Economics Letters, Elsevier, vol. 10(3-4), pages 237-242.
- Becker, Gary S, 1993. "Nobel Lecture: The Economic Way of Looking at Behavior," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 385-409, June.
- Geoffrey M. Hodgson, 2007. "Meanings of methodological individualism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(2), pages 211-226.
- Matthew Rabin, 1998.
"Psychology and Economics,"
Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
- Matthew Rabin., 1997. "Psychology and Economics," Economics Working Papers 97-251, University of California at Berkeley.
- Rabin, Matthew, 1997. "Psychology and Economics," Department of Economics, Working Paper Series qt8jd5z5j2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- John Metcalfe, 2008. "Accounting for economic evolution: Fitness and the population method," Journal of Bioeconomics, Springer, vol. 10(1), pages 23-49, April.
- Ostrom, Elinor & Basurto, Xavier, 2011. "Crafting analytical tools to study institutional change," Journal of Institutional Economics, Cambridge University Press, vol. 7(3), pages 317-343, September.
- Bala, Venkatesh & Majumdar, Mukul, 1992. "Chaotic Tatonnement," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(4), pages 437-445, October.
- Alex Robson, 2014. "Australia's Carbon Tax: An Economic Evaluation," Economic Affairs, Wiley Blackwell, vol. 34(1), pages 35-45, February.
- Ito, Takatoshi, 1980. "Disequilibrium growth theory," Journal of Economic Theory, Elsevier, vol. 23(3), pages 380-409, December.
- Andrew E. Clark & Paul Frijters & Michael A. Shields, 2008.
"Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles,"
Journal of Economic Literature, American Economic Association, vol. 46(1), pages 95-144, March.
- Clark, Andrew E. & Frijters, Paul & Shields, Michael A., 2007. "Relative Income, Happiness and Utility: An Explanation for the Easterlin Paradox and Other Puzzles," IZA Discussion Papers 2840, Institute of Labor Economics (IZA).
- Andrew E. Clark & Paul Frijters & Michael A. Shields, 2008. "Relative income, happiness, and utility: An explanation for the Easterlin paradox and other puzzles," PSE-Ecole d'économie de Paris (Postprint) halshs-00754299, HAL.
- Andrew E. Clark & Paul Frijters & Michael A. Shields, 2008. "Relative income, happiness, and utility: An explanation for the Easterlin paradox and other puzzles," Post-Print halshs-00754299, HAL.
- Frijters,Paul, 2013.
"An Economic Theory of Greed, Love, Groups, and Networks,"
Cambridge Books,
Cambridge University Press, number 9781107678941, January.
- Frijters,Paul, 2013. "An Economic Theory of Greed, Love, Groups, and Networks," Cambridge Books, Cambridge University Press, number 9781107026278.
- Malcolm Abbott & Bruce Cohen, 2014. "A Survey of the Privatisation of Government-Owned Enterprises in Australia since the 1980s," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 47(4), pages 432-454, December.
- Drakopoulos, S A, 1994. "Hierarchical Choice in Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 8(2), pages 133-153, June.
- John Foster, 2005.
"From simplistic to complex systems in economics,"
Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
- Prof John Foster, 2004. "From Simplistic to Complex Systems in Economics," Discussion Papers Series 335, School of Economics, University of Queensland, Australia.
- Elinor Ostrom, 2000. "Collective Action and the Evolution of Social Norms," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 137-158, Summer.
- Williamson, Oliver, 2009.
"The Theory of the Firm as Governance Structure: From Choice to Contract,"
Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 111-134, December.
- Oliver E. Williamson, 2002. "The Theory of the Firm as Governance Structure: From Choice to Contract," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 171-195, Summer.
- Earl, Peter E, 1990.
"Economics and Psychology: A Survey,"
Economic Journal, Royal Economic Society, vol. 100(402), pages 718-755, September.
- Earl, P.E., 1990. "Economics And Psychology: A Survey," Papers 1990-04, Tasmania - Department of Economics.
- Nicholas C. Barberis, 2013. "Thirty Years of Prospect Theory in Economics: A Review and Assessment," Journal of Economic Perspectives, American Economic Association, vol. 27(1), pages 173-196, Winter.
- Drakopoulos, S. A. & Karayiannis, A. D., 2004. "The Historical Development of Hierarchical Behavior in Economic Thought," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(3), pages 363-378, September.
- Herbert A. Simon, 1978. "On How to Decide What to Do," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 494-507, Autumn.
- Hahn, Frank H, 1973. "The Winter of our Discontent," Economica, London School of Economics and Political Science, vol. 40(159), pages 322-330, August.
- Easterlin, Richard A, 2001. "Income and Happiness: Towards an Unified Theory," Economic Journal, Royal Economic Society, vol. 111(473), pages 465-484, July.
- Drazen, Allan, 1980. "Recent Developments in Macroeconomic Disequilibrium Theory," Econometrica, Econometric Society, vol. 48(2), pages 283-306, March.
- Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
- Jon Elster, 1998. "Emotions and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 47-74, March.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
- Judith Mehta, 2013. "The discourse of bounded rationality in academic and policy arenas: pathologising the errant consumer," Cambridge Journal of Economics, Oxford University Press, vol. 37(6), pages 1243-1261.
- Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135-135.
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Heiner, Ronald A, 1985. "Origin of Predictable Behavior: Further Modeling and Applications," American Economic Review, American Economic Association, vol. 75(2), pages 391-396, May.
- Matthew Rabin, 2013. "An Approach to Incorporating Psychology into Economics," American Economic Review, American Economic Association, vol. 103(3), pages 617-622, May.
- Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-1580, November.
- Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
- Jotzo, Frank, 2012. "Australia’s carbon price," Working Papers 249401, Australian National University, Centre for Climate Economics & Policy.
- John Foster, 2017. "Prior Commitment and Uncertainty in Complex Economic Systems: Reinstating History in the Core of Economic Analysis," Scottish Journal of Political Economy, Scottish Economic Society, vol. 64(4), pages 392-418, September.
- Harry Markowitz, 1952. "The Utility of Wealth," Journal of Political Economy, University of Chicago Press, vol. 60, pages 151-151.
- J. Stanley Metcalfe, 2007. "Alfred Marshall's Mecca: Reconciling the Theories of Value and Development," The Economic Record, The Economic Society of Australia, vol. 83(s1), pages 1-22, September.
- Gordon Tullock, 1996. "Corruption Theory And Practice," Contemporary Economic Policy, Western Economic Association International, vol. 14(3), pages 6-13, July.
- Stephen King & Rohan Pitchford, 1998. "Privatisation in Australia: Understanding the Incentives in Public and Private Firms," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 31(4), pages 313-328, December.
- Sam Meng & Mahinda Siriwardana & Judith McNeill, 2013. "The Environmental and Economic Impact of the Carbon Tax in Australia," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(3), pages 313-332, March.
- Matthew Rabin, 2013. "Incorporating Limited Rationality into Economics," Journal of Economic Literature, American Economic Association, vol. 51(2), pages 528-543, June.
- Heiner, Ronald A, 1983. "The Origin of Predictable Behavior," American Economic Review, American Economic Association, vol. 73(4), pages 560-595, September.
- Foster, John, 1993. "Economics and the Self-Organisation Approach: Alfred Marshall Revisited," Economic Journal, Royal Economic Society, vol. 103(419), pages 975-991, July.
- Simon, Herbert A, 1978. "Rationality as Process and as Product of Thought," American Economic Review, American Economic Association, vol. 68(2), pages 1-16, May.
- Peter Earl & Tim Wakeley, 2010. "Alternative perspectives on connections in economic systems," Journal of Evolutionary Economics, Springer, vol. 20(2), pages 163-183, April.
- Michael D. Intriligator, 1994. "Privatisation in Russia Has Led to Criminalisation," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 27(2), pages 4-14, April.
- Jason Potts, 2000. "The New Evolutionary Microeconomics," Books, Edward Elgar Publishing, number 2258.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Brendan Markey-Towler, 2018. "Salience, chains and anchoring. Reducing complexity and enhancing the practicality of behavioural economics," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 2(1), pages 83-90, March.
- Brendan Markey-Towler, 2018. "A formal psychological theory for evolutionary economics," Journal of Evolutionary Economics, Springer, vol. 28(4), pages 691-725, September.
- Brendan Markey-Towler, 2021. "Psychology of evolutionary economic behaviour," Evolutionary and Institutional Economics Review, Springer, vol. 18(2), pages 361-383, September.
- Brendan Markey-Towler & John Foster, 2013. "Understanding the causes of income inequality in complex economic systems," Discussion Papers Series 478, School of Economics, University of Queensland, Australia.
- Brendan Markey-Towler, 2017. "How to win customers and influence people: Ameliorating the barriers to inducing behavioural change," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 1(S), pages 27-32, November.
- Brendan Markey-Towler, 2016. "Law of the jungle: firm survival and price dynamics in evolutionary markets," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 655-696, July.
- Jacobs Martin, 2016. "Accounting for Changing Tastes: Approaches to Explaining Unstable Individual Preferences," Review of Economics, De Gruyter, vol. 67(2), pages 121-183, August.
- Kavous Ardalan, 2018. "Behavioral attitudes toward current economic events: a lesson from neuroeconomics," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(4), pages 202-208, October.
- Ardalan, Kavous, 2018. "Neurofinance versus the efficient markets hypothesis," Global Finance Journal, Elsevier, vol. 35(C), pages 170-176.
- Döring Thomas, 2013. "John Maynard Keynes als Verhaltensökonom – illustriert anhand seiner Analyse des Versailler Vertrags / John Maynard Keynes as Behavioral Economist – Represented by his Analysis of the Treaty of Versai," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 64(1), pages 27-52, January.
- Bruno S. Frey & Matthias Benz, 2004.
"From Imperialism to Inspiration: A Survey of Economics and Psychology,"
Chapters, in: John B. Davis & Alain Marciano & Jochen Runde (ed.), The Elgar Companion To Economics and Philosophy, chapter 4,
Edward Elgar Publishing.
- Bruno S. Frey & Matthias Benz, "undated". "From Imperialism to Inspiration: A Survey of Economics and Psychology," IEW - Working Papers 118, Institute for Empirical Research in Economics - University of Zurich.
- Sergios Tzotzes & Dimitris Milonakis, 2021. "Paradigm Change or Assimilation? The Case of Behavioral Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(1), pages 173-192, March.
- Lapatinas Athanasios, 2014. "Understanding Voting Behaviour in Complex Political Systems," Mathematical Economics Letters, De Gruyter, vol. 2(3-4), pages 1-7, November.
- Hanoch, Yaniv, 2002. ""Neither an angel nor an ant": Emotion as an aid to bounded rationality," Journal of Economic Psychology, Elsevier, vol. 23(1), pages 1-25, February.
- Bruno S. Frey und Matthias Benz, "undated". "�konomie und Psychologie: eine �bersicht," IEW - Working Papers 092, Institute for Empirical Research in Economics - University of Zurich.
- Christian Grund & Dirk Sliwka, 2007.
"Reference-Dependent Preferences and the Impact of Wage Increases on Job Satisfaction: Theory and Evidence,"
Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(2), pages 313-335, June.
- Grund, Christian & Sliwka, Dirk, 2005. "Reference Dependent Preferences and the Impact of Wage Increases on Job Satisfaction: Theory and Evidence," IZA Discussion Papers 1879, Institute of Labor Economics (IZA).
- Eduard Marinov, 2017. "The 2017 Nobel Prize in Economics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 117-159.
- Committee, Nobel Prize, 2017. "Richard H. Thaler: Integrating Economics with Psychology," Nobel Prize in Economics documents 2017-1, Nobel Prize Committee.
- Schnellenbach, Jan & Schubert, Christian, 2015.
"Behavioral political economy: A survey,"
European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
- Jan Schnellenbach & Christian Schubert, 2014. "Behavioral Political Economy: A Survey," CESifo Working Paper Series 4988, CESifo.
- Stephan Schulmeister, 2000. "Technical Analysis and Exchange Rate Dynamics," WIFO Studies, WIFO, number 25857, Juni.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ajecsc:v:78:y:2019:i:1:p:95-135. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0002-9246 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.