Behavioural and experimental economics: are they really transforming economics?

Ana C. Santos

Cambridge Journal of Economics, 2011, vol. 35, issue 4, 705-728

Abstract: Behavioural and experimental economics are part of an increasingly pluralistic mainstream economics, sharing with other recently established research programmes the revision of fundamental assumptions of the previously dominant neoclassical economics research programme. The recent proliferation and consolidation of these new approaches creates the possibility for the emergence of a new orthodoxy of economics, i.e. a new general research programme capable of replacing neoclassicism. The goal of this paper is to investigate the potential contribution of behavioural and experimental economics to help build a general research programme capable of supplanting neoclassical economics and thereby transforming economics. To this end, it focuses on two influential applied fields of behavioural and experimental economics--choice architecture and design economics. Copyright The Author 2011. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

Date: 2011
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