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micro-economic theory on the level of individuals. Since economics is a social science, this article proposes that the next …
Persistent link: https://www.econbiz.de/10010340383
micro-economic theory on the level of individuals. Since economics is a social science, this article proposes that the next …
Persistent link: https://www.econbiz.de/10010187548
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Four types of economicsʺ relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...
Persistent link: https://www.econbiz.de/10003872188
. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are …
Persistent link: https://www.econbiz.de/10009753717