Rethinking basically Economic Assumption on Individual Behavior from Empirical Viewpoints of Evolution and Behavior
AbstractBuilding on the predecessors' thoughts and modern researches from empirical disciplines, and with thinking over the behavior assumption usually held and used by mainstream economics, the paper generalizes three basic assumptions and one explanatory framework on human individual behavior and its process, and stresses hierarchical characteristics in preferences, heterogeneity between learning capacity and learning and, human dealing with and reducing uncertainty from environments in the process of natural evolution, and rethinks the questions of individual rationality, acquirement of behavior mode, intellectual history on "knowledge" in the level of experientialism. The purpose is that along the path of "falsifying a theory" and with the help of empirical results, the paper trys to propose behavioral presuppositions and thinking framework, so that enhancing the effectiveness of economic theory on explaining individual behavior in real situations, and in the end advancing transdisciplinary researches between the empirical and social sciences.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 11152.
Date of creation: 15 Oct 2008
Date of revision:
assumption; explanatory framework; individual behavior; hierarchical preference; learning capacity; knowledge; evolutionary process; empirical substrate; transdiscipline;
Find related papers by JEL classification:
- B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
- Y80 - Miscellaneous Categories - - Related Disciplines - - - Related Disciplines
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-28 (All new papers)
- NEP-EVO-2008-10-28 (Evolutionary Economics)
- NEP-HPE-2008-10-28 (History & Philosophy of Economics)
- NEP-KNM-2008-10-28 (Knowledge Management & Knowledge Economy)
- NEP-PKE-2008-10-28 (Post Keynesian Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Vernon L. Smith, 2003.
"Constructivist and Ecological Rationality in Economics,"
American Economic Review,
American Economic Association, vol. 93(3), pages 465-508, June.
- Smith, Vernon L., 2002. "Constructivist and Ecological Rationality in Economics," Nobel Prize in Economics documents, Nobel Prize Committee 2002-7, Nobel Prize Committee.
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