Rationality and choices in economics: behavioral and evolutionary approaches
AbstractThe paper critically discusses the issue of rationality and choices in economics in both the behavioural and evolutionary approaches. Our study aims, on the one hand, to highlight the scientific contributions of psychology in economics, since psychology, and with it the theoretical approach of the behavioral economics, has made more complex and problematic the analysis of economic choices, showing the limits of rationality. On the other hand, the work offers a reinterpretation of the theory of Alfred Marshall in a biologicalevolutionary perspective. The reinterpretation of Marshall's theory in a evolutionary perspective aims to show that, historically, economics has not been a discipline aligned in a homogenous way to a single and undifferentiated thought, locked into the idea of perfect rationality, but, on the opposite, is a discipline that has enriched itself and continually is enriching by contributions and significant contaminations with other research fields.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35971.
Date of creation: Jan 2012
Date of revision:
rationality; choices; behavioral economics; evolutionary theories; biology;
Other versions of this item:
- Mario GRAZIANO & Daniele SCHILIRO, 2011. "Rationality And Choices In Economics: Behavioral And Evolutionary Approaches," Theoretical and Practical Research in Economic Fields, ASERS Publishing, vol. 0(2), pages 183-196, December.
- D03 - Microeconomics - - General - - - Behavioral Microeconomics; Underlying Principles
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- D90 - Microeconomics - - Intertemporal Choice - - - General
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-01-25 (All new papers)
- NEP-CBE-2012-01-25 (Cognitive & Behavioural Economics)
- NEP-EVO-2012-01-25 (Evolutionary Economics)
- NEP-HME-2012-01-25 (Heterodox Microeconomics)
- NEP-HPE-2012-01-25 (History & Philosophy of Economics)
- NEP-NEU-2012-01-25 (Neuroeconomics)
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.:
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