Abstract
Orthodox economics focuses on the analysis of the way the economic force or
motivation operates, thereby abstracting from the functioning of other primary
forces or motivations, such as the social and the psychic motivation. By assuming
perfect rationality psychic problems are ignored. This text discusses six approaches
in psychology – cognitive, behaviourist, biological, psychodynamic, humanistic and
social psychology - to find out what orthodox economics needs in order to extend its
analysis with the more realistic idea of imperfect rationality. In this discussion the
state of the art of behavioural economics in included.
motivation operates, thereby abstracting from the functioning of other primary
forces or motivations, such as the social and the psychic motivation. By assuming
perfect rationality psychic problems are ignored. This text discusses six approaches
in psychology – cognitive, behaviourist, biological, psychodynamic, humanistic and
social psychology - to find out what orthodox economics needs in order to extend its
analysis with the more realistic idea of imperfect rationality. In this discussion the
state of the art of behavioural economics in included.
| Original language | English |
|---|---|
| Publisher | UU USE Tjalling C. Koopmans Research Institute |
| Number of pages | 43 |
| Publication status | Published - 2010 |
Publication series
| Name | Discussion Paper Series / Tjalling C. Koopmans Research Institute |
|---|---|
| No. | 17 |
| Volume | 10 |
| ISSN (Electronic) | 2666-8238 |
Keywords
- orthodox economics
- psychology
- behavioural economics
- imperfect rationality