Ecological rationality and economics: where the Twain shall meet
نویسندگان
چکیده
Abstract Over the past decades psychological theories have made significant headway into economics, culminating in 2002 (partially) and 2017 Nobel prizes awarded for work field of Behavioral Economics. Many insights imported from psychology economics share a common trait: presumption that decision makers use shortcuts lead to deviations rational behaviour (the Heuristics-and-Biases program). economists seem unaware this viewpoint has long been contested cognitive psychology. Proponents an alternative program Ecological-Rationality program) argue heuristics need not be irrational, particularly when judged relative characteristics environment. We sketch out historical context antagonism between these two research programs then review more recent tradition. While heuristics-and-biases is now well-established (mainstream neo-classical) via Economics, we show there considerable scope interact with economics. In fact, are many existing, yet overlooked, bridges two, based on independently derived can construed as being aligned tradition program. close paper discussion open challenges difficulties integrating Ecological Rationality
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ژورنال
عنوان ژورنال: Synthese
سال: 2023
ISSN: ['0039-7857', '1573-0964']
DOI: https://doi.org/10.1007/s11229-023-04136-z