Revision or Revolution? A Note on Behavioral vs. Neoclassical Economics
نویسندگان
چکیده
منابع مشابه
As-if behavioral economics: Neoclassical economics in disguise?
Behavioral economics confronts a problem when it argues for its scientific relevance based on claims of superior empirical realism while defending models that are almost surely wrong as descriptions of true psychological processes (e.g., prospect theory, hyperbolic discounting, and social preference utility functions). Behavioral economists frequently observe that constrained optimization of ne...
متن کاملBehavioral economics: A methodological note
When a theory faces a set of facts that are not compatible with its key assumptions, there are several ways it might respond. In response to the challenge posed by behavioral economics, neoclassical economics has attempted numerous different approaches. After briefly reviewing these responses, this paper turns to argue in favor of one of them. 2009 Elsevier B.V. All rights reserved. When a theo...
متن کاملToward a neo-Darwinian synthesis of neoclassical and behavioral economics
There is a schism within economics between the neoclassical and behavioral schools. A primary cause of the behavioral ascent is the experimental evidence of deviations between actual behavior and the neoclassical prediction of behavior. While behavioral scholars have documented these “anomalies,” they have made little progress explaining the origin of such behavior. This paper proposes a biolog...
متن کاملOn the Neoclassical Tradition in Labor Economics
In a recent article George Boyer and Robert Smith describe the development of the neoclassical tradition in labor economics. In this paper I reexamine this subject and provide an alternative account of the evolution of thought in the field. I argue Boyer and Smith incorrectly define both the institutional and neoclassical approaches to labor market analysis. The essence of institutional economi...
متن کاملAustrian Economics , Neoclassical Economics , Marketing , and Finance
51 WALTER BLOCK is the Harold E. Wirth eminent scholar endowed chair in economics, WILLIAM BARNETT II is associate professor of economics, and STUART WOOD is associate professor of economics and finance at Loyola University, New Orleans. Block would like to thank David Kennedy, Tony Sullivan, and the Board of Directors of the Earhart Foundation for financial support used to write this paper. An...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2018
ISSN: 1556-5068
DOI: 10.2139/ssrn.3204441