Paradigm Change or Assimilation? The Case of Behavioral Economics

Sergios Tzotzes and Dimitris Milonakis

Review of Radical Political Economics, 2021, vol. 53, issue 1, 173-192

Abstract: In light of Thomas Kuhn’s view that paradigm change requires the existence of an alternative paradigm, this inquiry examines whether behavioral economics provides a foundation for change in economics. Drawing on Kuhn’s account of normal science that integrates science as a social system and a system of ideas, it critically examines the institutional and conceptual standing of behavioral economics relative to the mainstream paradigm and the alternative proposed by radical political economics with a view to assess the extent and the quality of change behavioral economics can impart to the dominant tradition of normal science in economics.

Keywords: paradigm change; behavioral economics; scientific community; mainstream paradigm; radical economics (search for similar items in EconPapers)
JEL-codes: A14 B0 B4 B5 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:53:y:2021:i:1:p:173-192

DOI: 10.1177/0486613420906901

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