The economic agent: Not human, but important
Graduate studies at Western
|Abstract||Critics of mainstream economics typically rest important weight on the differences between people and the 'agents' that populate economic theory and economic models. Hollis and Nell (1975) is both representative of and ancestral to many more recent variations on the theme. Lately, the upgraded status of behavioral economics (BE) within the discipline's mainstream has encouraged a number of writers to use revolutionary rhetoric in promotion of a 'paradigm shift' that includes the rejection of 'rational economic man' (Ormerod 1994, Heilbroner and Milburg 1995, Fullbrook 2003). The current leading developers of BE are generally more circumspect, claiming that their approach complements standard theory rather than promising to supplant it (Camerer and Loewenstein 2004, Angner and Loewenstein this volume). However, they generally join the more florid critics in supposing that microeconomics is bound to improve its empirical relevance to the extent that it substitutes the study of people for that of abstract economic agents. Another body of thought that promotes this view stems from Sen's (1977) attack on standard economic agents as 'rational fools', amplified in Davis's (2003) argument that since economic agents lack some essential properties of human individuals, economic theory requires fundamental reform if it is to make progress in explaining human behavior.|
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
|External links||This entry has no external links. Add one.|
|Through your library||Only published papers are available at libraries|
Similar books and articles
Amparo Gómez Rodríguez (2008). Rational Choice Theory and Economic Laws: The Role of Shared Values. Poznan Studies in the Philosophy of the Sciences and the Humanities 96 (1):191-205.
Filippo Cesarano (2006). Economic History and Economic Theory. Journal of Economic Methodology 13 (4):447-467.
Milan Zafirovski (2000). The Rational Choice Generalization of Neoclassical Economics Reconsidered: Any Theoretical Legitimation for Economic Imperialism? Sociological Theory 18 (3):448-471.
Pedro N. Teixeira (2007). Great Expectations, Mixed Results and Resilient Beliefs: The Troubles of Empirical Research in Economic Controversies. Journal of Economic Methodology 14 (3):291-309.
Anna Alexandrova (2006). Connecting Economic Models to the Real World: Game Theory and the Fcc Spectrum Auctions. Philosophy of the Social Sciences 36 (2):173-192.
Nils Goldschmidt & Bernd Remmele (2005). Anthropology as the Basic Science of Economic Theory: Towards a Cultural Theory of Economics. Journal of Economic Methodology 12 (3):455-469.
Uskali Mäki (ed.) (2001). The Economic World View: Studies in the Ontology of Economics. Cambridge University Press.
Added to index2009-01-28
Total downloads16 ( #81,814 of 739,345 )
Recent downloads (6 months)0
How can I increase my downloads?