Thorstein Veblen’s Institutional Economics and Daniel Kahneman and Amos Tversky’s Behavioral Economics: an analysis of convergent points

Tainari Taioka (), Felipe Almeida () and Ramón Garcia Fernádez ()
Authors registered in the RePEc Author Service: Ramon Garcia Fernandez

Brazilian Journal of Political Economy, 2020, vol. 40, issue 4, 746-765

Abstract: Original Institutional Economics and Behavioral Economics are two approaches that have challenged the conventional economics of their time regarding decision-making. Therefore, considering the original Institutional Economics according to Thorstein Veblen and Behavioral Economics as stated by Daniel Kahneman and Amos Tversky, this study aims to analyze if they have any convergent elements. As the key issue investigated in this study is decision-making, the convergence among these approaches relies on their psychological foundations. The psychological basis of original Institutional Economics is North-American pragmatic philosophy. This study offers a psychological approach to social learning and the theory of cognitive dissonance as the psychological basis of Behavioral Economics. JEL Classification: B52; D03.

Keywords: Original Institutional Economics; Behavioral Economics; Thorstein Veblen; Daniel Kahneman; decision-making (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://centrodeeconomiapolitica.org.br/repojs/ind ... ticle/view/2083/2183 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:40:y:2020:i:4:p:746-765:id:2083

Access Statistics for this article

More articles in Brazilian Journal of Political Economy from Center of Political Economy
Bibliographic data for series maintained by Brazilian Journal of Political Economy (Brazil) ().