From Traditional to Behavioral Economics. A Doctrinaire Perspective

Ianole Rodica and Cornescu Viorel ()
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Ianole Rodica: University of Bucharest, Faculty of Business and Administration
Cornescu Viorel: University of Bucharest, Faculty of Business and Administration

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 526-531

Abstract: The paper aims to contribute to the building of a more realistic understanding of the new born field of behavioral economics, based on a (fragmented) historical perspective of the psychological influences that can be traced in representative works from important economists. Exploring the theory of moral sentiments of Adam Smith, the animal spirits of J.M.Keynes and other representative concepts from Thorstein Veblen, Tibor Scitovsky and Herbert Simon, we emphasize the existence of a solid background for current research on similar topics and a sense of coherence that makes a significant link between different periods of economic thought and the actual trends.

Keywords: behavioral economics; economic thought; homo economicus; bounded rationality (search for similar items in EconPapers)
JEL-codes: B31 D03 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:12:p:526-531

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