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Theories of Decision-Making in Economics and Behavioural Science

Author

Listed:
  • Herbert A. Simon

    (Carnegie Institute of Technology)

Abstract

Recent years have seen important new explorations along the boundaries between economics and psychology. For the economist, the immediate question about these developments is whether they include new advances in psychology that can fruitfully be applied to economics. But the psychologist will also raise the converse question—whether there are developments in economic theory and observation that have implications for the central core of psychology. If economics is able to find verifiable and verified generalisations about human economic behaviour, then these generalisations must have a place in the more general theories of human behaviour to which psychology and sociology aspire. Influence will run both ways.2

Suggested Citation

  • Herbert A. Simon, 1966. "Theories of Decision-Making in Economics and Behavioural Science," Palgrave Macmillan Books,, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-00210-8_1
    DOI: 10.1007/978-1-349-00210-8_1
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    Cited by:

    1. Yun, JinHyo Joseph & Ahn, Heung Ju & Lee, Doo Seok & Park, Kyung Bae & Zhao, Xiaofei, 2022. "Inter-rationality; Modeling of bounded rationality in open innovation dynamics," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    2. S. F. A. Batista & Ludovic Leclercq, 2019. "Regional Dynamic Traffic Assignment Framework for Macroscopic Fundamental Diagram Multi-regions Models," Transportation Science, INFORMS, vol. 53(6), pages 1563-1590, November.
    3. Jiapeng Liu & Miłosz Kadziński & Xiuwu Liao, 2023. "Modeling Contingent Decision Behavior: A Bayesian Nonparametric Preference-Learning Approach," INFORMS Journal on Computing, INFORMS, vol. 35(4), pages 764-785, July.
    4. Saumweber, Andrea & Wederhake, Lars & Cardoso, Gonçalo & Fridgen, Gilbert & Heleno, Miguel, 2021. "Designing Pareto optimal electricity retail rates when utility customers are prosumers," Energy Policy, Elsevier, vol. 156(C).
    5. Alary, Véronique & Lasseur, Jacques & Frija, Aymen & Gautier, Denis, 2022. "Assessing the sustainability of livestock socio-ecosystems in the drylands through a set of indicators," Agricultural Systems, Elsevier, vol. 198(C).

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