Economics And Psychology: A Survey
AbstractThis paper reviews recent literature that integrates economics and psychology, contrasting economists' views of rationality with psychologists' research on how expectations and actions are affected by problems of cognition. A subjectivist critique of "stimulus-response" approaches to psychology is presented. A discussion of the relevance of theories of motivation follows a review of literature on decision procedures used for evaluating alternatives in situations of complexity. The use of psychology in research on entrepreneurship, productivity, macroeconomic policy, and welfare and public sector economics is explored. The conclusion notes barriers to the general acceptance of a psychologically oriented approach to economics. Copyright 1990 by Royal Economic Society.
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Bibliographic InfoPaper provided by Tasmania - Department of Economics in its series Papers with number 1990-04.
Length: 28 pages
Date of creation: 1990
Date of revision:
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Postal: UNIVERSITY OF TASMANIA, DEPARTMENT OF ECONOMICS, HOBART TASMANIA 7001 AUSTRALIA.
Phone: +61 3 6226 7672
Fax: +61 3 6226 7587
Web page: http://www.utas.edu.au/economics-finance/
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psychology ; economic theory;
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