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Terence C. Burnham () and Jay Phelan
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Terence C. Burnham: Chapman University
Jay Phelan: UCLA

Journal of Bioeconomics, 2019, vol. 21, issue 3, No 1, 145-155

Abstract: Abstract This feature will report on the “anomalies” of behavioral economics. Using the framework of Thomas Kuhn, behavioral economists label a result as anomalous if it is inconsistent with neoclassical economic theory. We argue that the anomalies of behavioral economics are intellectual artifacts, generated by viewing behavior through the distorting lens of current economic theory. The Ordinaries column will interpret economic behavior from the perspective of evolutionary biology. From this view of life, the anomalies of behavioral economics will disappear into a coherent biological framework that incorporates elements of neoclassical economic maximization.

Date: 2019
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DOI: 10.1007/s10818-019-09287-z

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