Cognitive Economics Takes Off

Andrew Caplin ()
Additional contact information
Andrew Caplin: New York University

Chapter Chapter 8 in An Introduction to Cognitive Economics, 2025, pp 101-120 from Springer

Abstract: Abstract This chapter presents a history of cognitive economics framed in terms of Walt Rostow’s stages of economic growth. It highlights the important early contribution of Paul Samuelson, who introduced revealed preference theory, as well as that of Henry Block and Jacob Marschak, who were the first to propose measure¬ment of new basic observations to separate preferences from beliefs. It outlines ongoing research on rational inattention, bounded rationality, efficient coding, salience-based attention, imperfect memory, resource rationality, and cognitive hierarchies. It discusses important new forms of measurement that are advancing the research frontier in cognitive economics, including economic surveys, process measures, and state dependent stochastic choice data. It outlines the broader convergence of interest between psychologists and economists on the importance of cognitive constraints.

Keywords: Rostow's Stages of Economic Growth; Paul Samuelson; Revealed Preference Theory; Rational Inattention; Bounded Rationality; Efficient Coding; Attentional Salience; Imperfect Memory; Survey Design; Process of Search; State Dependent Stochastic Choice Data (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:sprchp:978-3-031-73042-9_8

Ordering information: This item can be ordered from
http://www.springer.com/9783031730429

DOI: 10.1007/978-3-031-73042-9_8

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().