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Physical Laws and Human Behavior : A Three-Tier Framework

Mousavi, Shabnam; Sunder, Shyam - 2020

Social sciences start by looking at the social-psychological attributes of humans to model and explain their observed behavior. However, we suggest starting the study of observed human behavior with the universal laws of physics, e.g., the principle of minimum action. In our proposed three-tier...

Persistent link: https://www.econbiz.de/10014352348

Large effects of small cues : priming selfish economic decisions

Snir, Avichai; Levy, Dudi; Wang, Dian; Chen, Haipeng; … - 2024 - Revised: April 21, 2024

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

Persistent link: https://www.econbiz.de/10014531967

Rationality – What? Misconceptions of Neoclassical and Behavioral Economics

Rizzo, Mario J. - 2017

Both behavioral and neoclassical economists maintain a concept of strict rationality that is exceptionally narrow. Neoclassicists use it as a tool both to explain what agents actually do and as a prescriptive framework. Behavioralists do not believe it adequately explains actual behavior but...

Persistent link: https://www.econbiz.de/10012961724

Toward a Framework for Behavioral Strategy : What We Can Learn from Austrian Economics

Bylund, Per L. - 2014

The Austrian school of economics has recently made inroads into and appears may become an important perspective in the study of strategic management and entrepreneurship. Yet we see little of the prediction two decades ago that a specifically "Austrian school of strategy" would emerge (Jacobson,...

Persistent link: https://www.econbiz.de/10013062558

Soft Interventionism : A Hayekian Compromise With Libertarian Paternalism

Cowen, Nick; Trantidis, Aris - 2021

Are behavioral nudges consonant with the free society? Rizzo and Whitman argue that, with few exceptions, behavioral interventions aimed at addressing self-harms are unjustified and deleterious to freedom. At the core of their critique is a rejection of a narrow neoclassical account of...

Persistent link: https://www.econbiz.de/10013247102

Introduction : Symposium on Escaping Paternalism: Rationality, Behavioral Economics and Public Policy by Mario J. Rizzo and Glen Whitman

Cowen, Nick; Dold, Malte F. - 2021

Rizzo and Whitman’s Escaping Paternalism (2019) is, at once, a scholarly treatise on the nature of rationality and a powerful critique of the use of behavioral insights to support a new paternalism in public policy. Since its recent publication, it has informed research, among other things,...

Persistent link: https://www.econbiz.de/10013214179

Hayek, Keynes, and Modern Macroeconomics

Koppl, Roger; Luther, William J. - 2011

The Great Recession seems to be creating a change in the trend of macroeconomic thinking. Prior to the financial crisis of 2008, dynamic stochastic general equilibrium (DSGE) models dominated the macroeconomics literature without any apparent challengers on the horizon. Since then, however, we...

Persistent link: https://www.econbiz.de/10014196581

Reconciling Altruistic, Moralistic, and Ethical Behavior with the Rational Economic Agent and Competitive Markets

Altman, Morris - 2010

Contrary to some of the leading critiques of neoclassical theory, I argue that this theoretical framework can … market forces. Neoclassical theory, broadly defined, simply stresses the potential trade-off that exists between altruistic … neoclassical theory are too narrow to deal with the potential ramifications of introducing the moral dimension into the objective …

Persistent link: https://www.econbiz.de/10014199020

On Heroes and Average Moral Human Beings

Kirchgässner, Gebhard - 2002

After discussing various approaches about heroic behaviour in the literature, we first give a definition and classification of moral behaviour, in distinction to intrinsically motivated and 'prudent' behaviour. Then, we present some arguments on the function of moral behaviour according to...

Persistent link: https://www.econbiz.de/10014120897

Process Models Are As-If Models : An Antirealist Account of Economic Theories of Decision-Making

Moscati, Ivan - 2021

practices of decision theory. The antirealism on offer emphasizes the role that mechanistic explanations play in decision …

Persistent link: https://www.econbiz.de/10013243487