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From heuristics and biases to agency

Author

Listed:
  • Ivan Mitrouchev

    (GAEL, Univ. Grenoble Alpes, INRAE, CNRS, Grenoble INP)

  • Malte Dold

    (Pomona College, Economics Department)

Abstract

Behavioural economics in the heuristics-and-biases tradition of Kahneman and Tversky is best known for explaining how people actually make decisions. However, less attention has been paid to its role in shaping normative decision making, which focuses on evaluating welfare and guiding choices. This article traces the evolving meanings of normativity in behavioural economics from the 1970s to the 2010s, exploring different interpretations of “irrational” behaviour and their implications for policymaking.

Suggested Citation

  • Ivan Mitrouchev & Malte Dold, 2025. "From heuristics and biases to agency," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 24(2), pages 489-508, December.
    • Handle: RePEc:spr:minsoc:v:24:y:2025:i:2:d:10.1007_s11299-025-00344-x
    DOI: 10.1007/s11299-025-00344-x
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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