(Non-) Behavioral Economics - A Programmatic Assessment
AbstractEconomic theory has evolved without paying proper attention to behavioral approaches, especially to social, economic, and cognitive psychology. This has recently changed by including behavioral economics courses in many doctoral study programs. Although this new development is most welcome, the typical topics of the behavioral economics courses are not truly behavioral. More specifically, we question whether eoclassical repairs or game fitting exercises as well as more or less mechanic adaptation processes qualify as behavioral approaches. To avoid criticizing without offering alternatives, we suggest some truly behavioral concepts, especially the satisficing approach.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2007-099.
Date of creation: 04 Dec 2007
Date of revision:
(Un)Bounded rationality; Satisficing; Learning; Experimental and Behavioral Economics;
Find related papers by JEL classification:
- A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-12-08 (All new papers)
- NEP-CBE-2007-12-08 (Cognitive & Behavioural Economics)
- NEP-EVO-2007-12-08 (Evolutionary Economics)
- NEP-EXP-2007-12-08 (Experimental Economics)
- NEP-HPE-2007-12-08 (History & Philosophy of Economics)
- NEP-PKE-2007-12-08 (Post Keynesian Economics)
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