The DOI matches its Crossref record; 7 of the 7 references it cites were found in a registry or an index.
A Psychological Perspective on Economics
Abstract
My first exposure to the psychological assumptions of economics was in a report that Bruno Frey wrote on that subject in the early 1970's. Its first or second sentence stated that the agent of economic theory is rational and selfish, and that his tastes do not change. I found this list quite startling, because I had been professionally trained as a psychologist not to believe a word of it. The gap between the assumptions of our disciplines appeared very large indeed. Has the gap been narrowed in the intervening 30 years? A search through some introductory textbooks in economics indicates that if there has been any change, it has not yet filtered down to that level: the same assumptions are still in place as the cornerstones of economic analysis. However, a behavioral approach to economics has emerged in which the assumptions are not held sacrosanct. In the following I comment selectively on the developments with regard to the three assumptions, on both sides of the disciplinary divide.
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Cites
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Self-citation“Risk, Ambiguity, and the Savage Axioms.”
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Cited by
How to SHIFT Consumer Behaviors to be More Sustainable: A Literature Review and Guiding Framework
White, K., Habib, R., & Hardisty, D. J. (2019) · Journal of Marketing · doi:10.1177/0022242919825649 · Cited by 2,386
Attention and choice: A review on eye movements in decision making
Orquin, J. L., & Mueller Loose, S. (2013) · Acta Psychologica · doi:10.1016/j.actpsy.2013.06.003 · Cited by 940
Growth theory and ‘green growth’
Smulders, S., Toman, M., & Withagen, C. (2014) · Oxford Review of Economic Policy · doi:10.1093/oxrep/gru027 · Cited by 168
Glynn, P. D., Voinov, A. A., Shapiro, C. D., & White, P. A. (2017) · Earth's Future · doi:10.1002/2016ef000487 · Cited by 98
“Loss-aversion bias, our greater sensitivity to potential losses than to potential gains [Kahneman and Tversky, 1984; Kahneman, 2003], increases the difficulty of finding understanding among stakeholders who potentially face near-term losses, at least if they rely on their past experiences and…”
BackgroundEnvironmentally significant behavior in the home
Stern, P. C. (2008) · The Cambridge Handbook of Psychology and Economic Behaviour · doi:10.1017/cbo9780511490118.015 · Cited by 50
Metadata
- Authors
- Kahneman, D.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2003-04-01
- Volume
- 93
- Issue
- 2
- Pages
- 162-168
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2075488831
- Cited by
- 543
- References
- 7
- FWCI
- 12.83
- Type
- journal article
- Language
- en
- Open access
- closed
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