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From anecdotes to novels: Reflective inputs for behavioural economics

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  • Peter Earl

Abstract

Thaler's deployment of anomalous anecdotes has helped raise the profile of behavioural economics. This paper explores possible uses of other narrative materials as aids to economic research. After examining the use of anecdotes in economics, the paper reviews opportunities to use a wide range of more extensive reflective materials. Two text-based applications are then presented: the first uses material from consumer magazines, the second draws from novels by David Lodge. Both applications call into question conventional thinking regarding the degree of substitution between product characteristics, while the second is also instructive regarding the processes by which economic activities are coordinated.

Suggested Citation

  • Peter Earl, 2011. "From anecdotes to novels: Reflective inputs for behavioural economics," New Zealand Economic Papers, Taylor & Francis Journals, vol. 45(1-2), pages 5-22.
  • Handle: RePEc:taf:nzecpp:v:45:y:2011:i:1-2:p:5-22
    DOI: 10.1080/00779954.2011.556067
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    References listed on IDEAS

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    1. Peter E. Earl, 1995. "Microeconomics for Business and Marketing," Books, Edward Elgar Publishing, number 159.
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    Cited by:

    1. Bianchi, Marina, 2014. "The magic of storytelling: How curiosity and aesthetic preferences work," Economics Discussion Papers 2014-23, Kiel Institute for the World Economy (IfW).
    2. Bianchi, Marina, 2014. "The magic of storytelling: How curiosity and aesthetic preferences work," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 8, pages 1-30.

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