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Building and Defining Behavioral Economics

In: Research in the History of Economic Thought and Methodology

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  • Floris Heukelom

Abstract

George Loewenstein, a prominent behavioral economist, recalls thatIn 1994, when Thaler, Camerer, Rabin, Prelec and I spent the year at the Center for Advanced Study in the Behavioral Sciences, we had a meeting to make a kind of final decision about what to call what we were doing. Remarkably, at that time, the name behavioral economics was not yet well established. I actually advocated “psychological economics,” and Thaler was strong on behavioral economics. I'm kind of glad that he prevailed; I think it's a better, catchier, label, although it creates confusion due to association with Behaviorism. (G. Loewenstein, personal email to author, June 16, 2008)

Suggested Citation

  • Floris Heukelom, 2011. "Building and Defining Behavioral Economics," Research in the History of Economic Thought and Methodology, in: Research in the History of Economic Thought and Methodology, pages 1-29, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rhetzz:s0743-4154(2011)000029a005
    DOI: 10.1108/S0743-4154(2011)000029A005
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