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Ordinaries

Author

Listed:
  • Terence C. Burnham

    (Chapman University)

  • Jay Phelan

    (UCLA)

Abstract

Neoclassical and behavioral economics disagree over the human consumption of dietary fat, a pervasive behavior that increases morbidity and mortality. Neoclassical economics assumes that people are choosing optimal diets, trading off utility and money today in return for disease and early death. In contrast, behavioral economics argues people are making poor dietary decisions. Evolutionary biology suggests that, for our human ancestors, dietary choices were optimal, in a constrained manner consistent with the neoclassical economic model. In the modern environment, which has more and different foods, biology provides no support for the neoclassical view.

Suggested Citation

  • Terence C. Burnham & Jay Phelan, 2021. "Ordinaries," Journal of Bioeconomics, Springer, vol. 23(2), pages 125-149, July.
    • Handle: RePEc:kap:jbioec:v:23:y:2021:i:2:d:10.1007_s10818-021-09316-w
    DOI: 10.1007/s10818-021-09316-w
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    References listed on IDEAS

    as
    1. Terence C. Burnham, 2016. "Economics and evolutionary mismatch: humans in novel settings do not maximize," Journal of Bioeconomics, Springer, vol. 18(3), pages 195-209, October.
    2. Erik Axelsson & Abhirami Ratnakumar & Maja-Louise Arendt & Khurram Maqbool & Matthew T. Webster & Michele Perloski & Olof Liberg & Jon M. Arnemo & Åke Hedhammar & Kerstin Lindblad-Toh, 2013. "The genomic signature of dog domestication reveals adaptation to a starch-rich diet," Nature, Nature, vol. 495(7441), pages 360-364, March.
    3. Soodabeh Milanlouei & Giulia Menichetti & Yanping Li & Joseph Loscalzo & Walter C. Willett & Albert-László Barabási, 2020. "A systematic comprehensive longitudinal evaluation of dietary factors associated with acute myocardial infarction and fatal coronary heart disease," Nature Communications, Nature, vol. 11(1), pages 1-14, December.
    4. Jeremiah Y. Cohen & Sebastian Haesler & Linh Vong & Bradford B. Lowell & Naoshige Uchida, 2012. "Neuron-type-specific signals for reward and punishment in the ventral tegmental area," Nature, Nature, vol. 482(7383), pages 85-88, February.
    5. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
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