Is ‘new’ behavioral economics ‘mainstream’?

Journal of Economic Methodology 25 (1):83-104 (2018)

When comparing ‘new’ and ‘old’ behavioral economics, many argue that ‘new’ BE has close ties with what is often called ‘mainstream’ economics. The aim of this paper is to reframe the ‘old’ vs. ‘new’ BE debate and investigate the nature of the relationship between psychologists, behavioral economists, and ‘mainstream’ economists. This will lead us to develop the concept of ‘space of interaction’, building on Galison’s metaphor of ‘trading zones’, to emphasize the role of outsiders, strategic thinking, and negotiation in ‘new’ BE. By discussing some often implicit arguments in an otherwise disconnected literature, we seek to bring new arguments to the discussions through a careful study of those relationships in the history of ‘new’ BE and its more recent developments. Leaving aside the orthodox/heterodox contrast and comparative approaches, we hope to provide a different account of the changes in ‘new’ BE and its relationship with the ‘mainstream’.
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DOI 10.1080/1350178x.2017.1407436
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Trading Zones and Interactional Expertise.Harry Collins, Robert Evans & Mike Gorman - 2007 - Studies in History and Philosophy of Science Part A 38 (4):657-666.
Elimination by Aspects: A Theory of Choice.Amos Tversky - 1972 - Psychological Review 79 (4):281-299.
Orthodox and Heterodox Economics in Recent Economic Methodology.D. Wade Hands - 2015 - Erasmus Journal for Philosophy and Economics 8 (1):61.
Unifying the Behavioral Sciences II.Herbert Gintis - 2007 - Behavioral and Brain Sciences 30 (1):45-53.

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