Can Post Keynesians make better use of behavioral economics?
AbstractIn recent decades, there has been a growth in economic research programs loosely described as behavioral economics. Despite calls for closer engagement between behavioral and Post Keynesian economics, the impact of behavioral economics on the Post Keynesian literature remains relatively limited. In this paper, we examine the nature of behavioral economics and the case made by those who claim or demonstrate that it can make a contribution to Post Keynesianism. We also consider why to date behavioral economics has had such a restricted effect. We conclude that there is scope for further successful engagement between behavioral economics and Post Keynesian economics if it is based on explicitly stated common ground, defined in terms of methodology.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.
Volume (Year): 33 (2010)
Issue (Month): 2 (January)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348
behavioral economics; behavioral macroeconomics; Post Keynesian economics; psychological economics;
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- J. E. King, 2012. "Post Keynesians and Others," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 305-319, April.
- John Edward King, 2013. "A Brief Introduction to Post Keynesian Macroeconomics," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 39(4), pages 485-508.
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