RATIONALITY AND CHOICES IN ECONOMICS: BEHAVIORAL AND EVOLUTIONARY APPROACHES

Mario Graziano () and Daniele Schiliro'
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Mario Graziano: Università di Messina, Italy Dipartimento di Scienze Cognitive, della Formazione e degli Studi Culturali, Postal: IT

Theoretical and Practical Research in the Economic Fields, 2011, vol. 2, issue 2, 182-195

Abstract: The paper critically discusses the issue of rationality and choices in economics in both the behavioural and evolutionary approaches. Our study aims, on the one hand, to highlight the scientific contributions of psychology in economics, since psychology, and with it the theoretical approach of the behavioral economics, has made more complex and problematic the analysis of economic choices, showing the limits of rationality. On the other hand, the work offers a reinterpretation of the theory of Alfred Marshall in a biological-evolutionary perspective. The reinterpretation of Marshall's theory in a evolutionary perspective aims to show that, historically, economics has not been a discipline aligned in a homogenous way to a single and undifferentiated thought, locked into the idea of perfect rationality, but, on the opposite, is a discipline that has enriched itself and continually is enriching by contributions and significant contaminations with other research fields.

Date: 2011
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