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Persuasion, psychology and public choice


  • Munger, Michael C.


There has been a division of labor in the “behavioral sciences”. This is perhaps most striking in two of the largest behavioral disciplines, economics and psychology. Since 1990, a number of economists have crossed this boundary. But James Buchanan was one of the first economists to take the problem of moral intuitions and the origins of preferences seriously, and to treat them analytically.

Suggested Citation

  • Munger, Michael C., 2011. "Persuasion, psychology and public choice," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 290-300.
  • Handle: RePEc:eee:jeborg:v:80:y:2011:i:2:p:290-300
    DOI: 10.1016/j.jebo.2011.07.012

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    References listed on IDEAS

    1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-795, December.
    2. Denzau, Arthur T & North, Douglass C, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31.
    3. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135-135.
    4. Banks, Jeffrey S., 1990. "A model of electoral competition with incomplete information," Journal of Economic Theory, Elsevier, vol. 50(2), pages 309-325, April.
    5. James M. Buchanan, 1954. "Social Choice, Democracy, and Free Markets," Journal of Political Economy, University of Chicago Press, vol. 62, pages 114-114.
    6. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
    7. Kenneth Arrow, 1996. "The economics of information: An exposition," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 23(2), pages 119-128, June.
    8. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    9. repec:cup:apsrev:v:82:y:1988:i:03:p:719-736_19 is not listed on IDEAS
    10. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    11. Jones, Larry E, 1988. "The Characteristics Model, Hedonic Prices, and the Clientele Effect," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 551-567, June.
    12. repec:cup:apsrev:v:79:y:1985:i:02:p:293-304_22 is not listed on IDEAS
    13. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213-213.
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    More about this item


    Public choice; Psychology; Rational choice theory; Behaviorism;

    JEL classification:

    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • K1 - Law and Economics - - Basic Areas of Law
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents


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