Does Macroeconomics Need Microeconomic Foundations?

I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.

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Year of publication:	2009
Authors:	Da Silva, Sergio
Published in:	Economics - The Open-Access, Open-Assessment E-Journal. - Institut für Weltwirtschaft (IfW), ISSN 1864-6042. - Vol. 3.2009, 2009-23, p. 1-11
Publisher:	Institut für Weltwirtschaft (IfW)
Subject:	Microfoundations \| neuroeconomics \| econophysics

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Other identifiers:	10.5018/economics-ejournal.ja.2009-23 [DOI]
Classification:	B22 - Macroeconomics ; B41 - Economic Methodology ; C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; D87 - Neuroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005082994