The nanolevel of economic hierarchy

Dmitriy Shults ()

Вестник Пермского университета. Серия: Экономика, 2014, issue 3, 22-28

Abstract: The range of issues related to an individual is crucial for modern economics. It is possible to talk about appearance of nanoeconomics as a new branch along with the traditional microand macroeconomic theories. The main objective of the research is to analyze the achievements of various scientific schools concerning nanoeconomics. In the research methods of historical and comparative analyses are used. As for the novelty of the work, the issues of nanoeco-nomics are considered here in terms of hierarchical analysis. Behavioral economics denies the idea of economic agents rationality; evolutionism is based on bounded rationality; neoinstitutionalism and ethical economics preserve the concept of rationality in the theory developing criteria for rationality of higher orders (metarationality). Evolutionism rejects neoclassical economics and suggests a new paradigm; behavioral economics criticizes the axiom of rationality, but it is still not clear what changes into the theory it entails; neoinstitutionalism broadens and deepens the neoclassical theory maintaining its core; ethical economics develops the neoclassical model as its own special case. Neoinstitutionalism is like economic imperialism that tries to extend the methods of economic analysis on issues of other fields such as sociology. Behavioral economics is, rather, expansion of psychology into economics; evolutionary theory biology expansion into economics; ethical economics ethics expansion into economics.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:scn:006506:15669091

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