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  3. Psychology, Rationality and Economic Behaviour: Challenging Standard Assumptions

Psychology, Rationality and Economic Behaviour: Challenging Standard Assumptions

Posted By: step778
Date: 7 Aug 2018 07:27:28
Psychology, Rationality and Economic Behaviour: Challenging Standard Assumptions

Bina Agarwal, Alessandro Vercelli, "Psychology, Rationality and Economic Behaviour: Challenging Standard Assumptions"
2005 | pages: 285 | ISBN: 1403942536 | PDF | 1,2 mb

Economics has paid little attention to the psychology of economic behavior, leading to somewhat simplistic assumptions about human nature. The psychological aspects have typically been reduced to assumptions of standard utility theory, based on a narrow conception of rationality, often called "substantive rationality". However, recent work, some theoretic, some based on experimental economics or an empirical analysis of existing data, challenges these assumptions and forefronts the psychological dimensions of economic decisions. The essays in this volume provide a glimpse of this exciting and newly emerging field.

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