The article summarizes the recent seminar of the Czech Economic Association devoted to the Nobel Prize laureates in economics for 2000, James J. Heckman and Daniel L. McFadden. A paper presented by M. Zajícek concentrated mainly on the work of Mr. McFadden. Economic problems, especially those...

his article summarizes a recent seminar of the Czech Economic Association devoted to the relationship between psychology and economics. While economic methodology strives for scientific reasoning, the course of this pursuit often results in the neglect of the behavioral aspects of economic...