The profession of academic economics has been widely criticized for being excessively dependent on technical models based on unrealistic assumptions about rationality and individual behaviour, and yet it remains a sparsely studied area. This volume presents a series of background readings on the...

The Economics of the Mind addresses economics from the perspective of real men and women: how they assess things, decide and act. It looks at the choices we make, and calls for the assumptions which make up the foundations of economic theory to be consistent with the mechanisms which guide the...