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Driven by the Invisible: The economics of the unseen

Author

Listed:
  • Roger Frantz

    (Professor Emeritus, San Diego State University)

Abstract

In this paper I discuss 15 writers, whose writings included topics or concepts which are now part of (new) behavioral economics (NBE). These writers may not have taken up one page or what became part of (N)BE, or it took up several pages. They often did not use the terms used today by NBE. But, the substance is similar, even identical. The writers wrote between the mid-18th century (Adam Smith), to the 20th century (Irving Fisher, and Frank Knight, to mention only two).

Suggested Citation

  • Roger Frantz, 2021. "Driven by the Invisible: The economics of the unseen," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 5(S3), pages 7-17, October.
    • Handle: RePEc:beh:jbepv1:v:5:y:2021:i:s3:p:7-17
    as

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    References listed on IDEAS

    as
    1. J. M. Clark, 1918. "Economics and Modern Psychology: II," Journal of Political Economy, University of Chicago Press, vol. 26(2), pages 136-136.
    2. J. M. Clark, 1918. "Economics and Modern Psycholoy: I," Journal of Political Economy, University of Chicago Press, vol. 26(1), pages 1-1.
    3. George A. Akerlof, 2003. "Behavioral Macroeconomics and Macroeconomic Behavior," The American Economist, Sage Publications, vol. 47(1), pages 25-47, March.
    4. Frank H. Knight, 1925. "Economic Psychology and the Value Problem," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 39(3), pages 372-409.
    5. Knight, Frank H., 1923. "The Ethics of Competition," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 37, pages 579-624, August.
    6. Frank H. Knight, 1923. "The Ethics of Competition," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 37(4), pages 579-624.
    7. Drazen Prelec & George Loewenstein, 1998. "The Red and the Black: Mental Accounting of Savings and Debt," Marketing Science, INFORMS, vol. 17(1), pages 4-28.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    (new) behavioral economics; heuristics and biases; history of economic thought;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals

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