Towards an alternative paradigm of consumer behavior
AbstractThis paper explores Scitovsky’s contribution to behavioral economics and examines in particular the changes his theory based on the findings of human brain psychophysiologists has brought to choice theory. The evidence here gathered points out how Scitovsky was making his suggestions for an alternative to the rationalist-based theory of choice model as far back in the early 1970s. The same evidence singles out Scitovsky as one of the most influential forerunners of a successful program of psychologically-based economic research which has only recently been acknowledged as a promising field for further investigation.
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Bibliographic InfoPaper provided by University of Milano-Bicocca, Department of Economics in its series Working Papers with number 179.
Length: 21 pages
Date of creation: Mar 2010
Date of revision: Mar 2010
Scitovsky; behavioral economics; arousal; comfort; pleasure; satisfaction; rational-choice theory;
Find related papers by JEL classification:
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-28 (All new papers)
- NEP-CBE-2010-03-28 (Cognitive & Behavioural Economics)
- NEP-EVO-2010-03-28 (Evolutionary Economics)
- NEP-HAP-2010-03-28 (Economics of Happiness)
- NEP-NEU-2010-03-28 (Neuroeconomics)
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