Philosophical, Psychological and Economic Aspects of Choice Making
AbstractThis paper brings together views on choice making as have been developed in philosophy, psychology, and economics. Starting from specific examples the relative merits of different approaches are discussed. The conclusion that models of boundedly rational behavior are the future of social science research is strongly endorsed. But we also admit that it is not completely clear what this implies and take the liberty to speculate on where future research might go.
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Bibliographic InfoPaper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2003-06.
Length: 78 pages
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-05-08 (All new papers)
- NEP-CBE-2003-05-08 (Cognitive & Behavioural Economics)
- NEP-HPE-2003-05-08 (History & Philosophy of Economics)
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