(Non-) Behavioral Economics - A Programmatic Assessment

Werner Güth ()

No 2007-099, Jena Economics Research Papers from Friedrich-Schiller-University Jena

Abstract: Economic theory has evolved without paying proper attention to behavioral approaches, especially to social, economic, and cognitive psychology. This has recently changed by including behavioral economics courses in many doctoral study programs. Although this new development is most welcome, the typical topics of the behavioral economics courses are not truly behavioral. More specifically, we question whether eoclassical repairs or game fitting exercises as well as more or less mechanic adaptation processes qualify as behavioral approaches. To avoid criticizing without offering alternatives, we suggest some truly behavioral concepts, especially the satisficing approach.

Keywords: (Un)Bounded rationality; Satisficing; Learning; Experimental and Behavioral Economics (search for similar items in EconPapers)
JEL-codes: A11 B41 B52 C72 C91 (search for similar items in EconPapers)
Date: 2007-12-04
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp, nep-hpe and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:jrp:jrpwrp:2007-099

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