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Behavioral economics aspires to replace the agents of neoclassical economics with living, breathing human beings. Here, the author argues that behavioral economics, like its neoclassical counterpart, often neglects the role of active sense-making that motivates and guides much human behavior....
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Behavioral economics characterizes decision-makers using psychologically-informed models. Cognitive science produces psychologically-informed models. Why don't these disciplines talk more? Here, the author presents several arguments for why cognitive science should inform behavioral economics -...
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the field of asset management. We find that while the theoretical aspects of the modern portfolio theory are valuable they …
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Market efficiency has been questioned since behavioural finance emerged. However, there is no theory consolidating both …
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. This paper takes a complementary, comparative approach, examining theory development in the natural sciences. Examples show … process occurring over a long timescale. Models are typically nested within this broader theory. This could be a good model … sector raises the question, how to realise what has been omitted? Nesting models in an empirically based causal theory could …
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