IDEAS home Printed from
   My bibliography  Save this paper

Economic Agency Through Modularity Theory


  • Rendra Suroso

    (Bandung Fe Institute)


Economic agency as a matter of rational decision-making and as a problem of bounded rationality has never gone too far from its earlier formalization in the 1950s. Not that the advancement on this topic is so slow, but the same problem concerning higher level cognition as another general program of cognitive science is not as easy as behavioral studies. This paper will show a parallelism between economic agency and folkpsychological perspective, and in turn will give a short description on how folk psychology is unseparable from modularity theory. In short, then there must be a way to cope with cognition as the black box of economics if we can identify the appropriate level of description of cognitive structure, i.e.: modularity theory.

Suggested Citation

  • Rendra Suroso, 2004. "Economic Agency Through Modularity Theory," Computational Economics 0405006, EconWPA.
  • Handle: RePEc:wpa:wuwpco:0405006
    Note: Type of Document - pdf; pages: 14

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Rabin, Matthew, 2002. "A perspective on psychology and economics," European Economic Review, Elsevier, vol. 46(4-5), pages 657-685, May.
    2. Colin Camerer & George Loewenstein & Drazen Prelec, 2003. "Neuroeconomics: How neuroscience can inform economics," Levine's Bibliography 506439000000000484, UCLA Department of Economics.
    3. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    4. McFadden, Daniel, 1999. "Rationality for Economists?," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 73-105, December.
    5. Thomas Schuster, 2003. "Meta-Communication and Market Dynamics. Reflexive Interactions of Financial Markets and the Mass Media," Finance 0307014, EconWPA.
    Full references (including those not matched with items on IDEAS)

    More about this item


    bounded rationality; folk psychology; modularity theory;

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpco:0405006. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.