How a psychologist informed economics: The case of Sidney Siegel
AbstractIn the 1950s before Kahneman and Tversky showed how behavioral economics could bring economics and psychology into a unified framework, a social psychologist, Sidney Siegel, entered the realm of economics and laid the foundation of experimental economics. This paper gives an assessment of Siegel's effort to meld psychology and economics and shows that Siegel was not only a contributor to the methodology of experimental economics but also a pioneer of behavioral economics. Although his legacy was paramount in the work of the Nobel Prize winner Vernon Smith, Siegel endorsed a very different approach to making interdisciplinary research effective.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Psychology.
Volume (Year): 31 (2010)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/joep
Experimental economics Psychology Behavioral economics Bargaining theory Utility theory;
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