Behavioral Economics


Behavioral economics explores how actors in the economic arena actually behave, which is not necessarily rationally, and it considers factors, some of them highly subjective, that influence economic choices. It also treats the effects of imcomplete, erroneous, or deceptive information on decisionmaking, and limitations on information processing capacities of decisionmakers.

  1. Remote Link - HTML Behavioral economics: Reunifying psychology and economics, by Colin Camerer, Proceedings of the National Academy of Sciences, Vol. 96, Issue 19, 10575-10577, September 14, 1999.
  2. Remote Link - HTML Society for the Advancement of Behavioral Economics (SABE)
  3. Remote Link - HTML Behavioral Economics?, by Tibor Machan, Ludwig von Mises Institute, February 12, 2001. Cautionary note on the movement.
  4. Remote Link - HTML Commentary: Misbehavioral Economics?, by Donald Cooper, Objectivist Center. View from the Austrian front.
  5. Remote Link - HTML A Foundation for Behavioral Economics, by Jessica L. Cohen abd William T. Dickens, December 2001. Argues that evolutionary psychology can provide a theoretical foundation for it.
  6. Remote Link - HTML Is There Any Theory in Institutional Economics?, by A. Allan Schmid, Michigan State University. Explores alternative theoretical foundations.
  7. Remote Link - HTML Behavioral Game Theory: Experiments in Strategic Interaction , by Colin F. Camerer, Princeton University Press, 2003. Blurb for book.
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