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Behavioural and experimental economics: are they really transforming economics?

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  • Ana C. Santos

Abstract

Behavioural and experimental economics are part of an increasingly pluralistic mainstream economics, sharing with other recently established research programmes the revision of fundamental assumptions of the previously dominant neoclassical economics research programme. The recent proliferation and consolidation of these new approaches creates the possibility for the emergence of a new orthodoxy of economics, i.e. a new general research programme capable of replacing neoclassicism. The goal of this paper is to investigate the potential contribution of behavioural and experimental economics to help build a general research programme capable of supplanting neoclassical economics and thereby transforming economics. To this end, it focuses on two influential applied fields of behavioural and experimental economics--choice architecture and design economics. Copyright The Author 2011. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

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  • Ana C. Santos, 2011. "Behavioural and experimental economics: are they really transforming economics?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 35(4), pages 705-728.
    • Handle: RePEc:oup:cambje:v:35:y:2011:i:4:p:705-728
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    File URL: http://hdl.handle.net/10.1093/cje/beq049
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    Cited by:

    1. Dorian Jullien & Nicolas Vallois, 2014. "A probabilistic ghost in the experimental machine," Journal of Economic Methodology, Taylor & Francis Journals, vol. 21(3), pages 232-250, September.
    2. Till Proeger & Lukas Meub & Kilian Bizer, 2018. "Laboratory Experiments of Tradable Development Rights: A Synthesis of Different Treatments," Sustainability, MDPI, vol. 10(6), pages 1-19, June.
    3. N/A, 2012. "Games and Prizes in the Economic (and Geographical?) Performance of Markets: Nobel, Shapley, and Roth," Environment and Planning A, , vol. 44(11), pages 2542-2545, November.
    4. William A. Jackson, 2013. "The desocialising of economic theory," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 40(9), pages 809-825, July.
    5. Proeger, Till & Meub, Lukas & Bizer, Kilian, 2017. "The role of communication on an experimental market for tradable development rights," Land Use Policy, Elsevier, vol. 68(C), pages 614-624.
    6. Bridget O'Laughlin & Ben Fine & Deborah Johnston & Ana C. Santos & Elisa Waeyenberge, 2016. "Forum 2016," Development and Change, International Institute of Social Studies, vol. 47(4), pages 640-663, July.
    7. John E. King, 2013. "Should post-Keynesians make a behavioural turn?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(2), pages 231-242.
    8. Roche Charles & Dr. Olweny Tobias & Dr. Nasieku Tabitha, 2021. "Fundamental Anomalies and Firms Financial Distress; Evidence from Nairobi Securities Exchange, Kenya," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 11(2), pages 1-1.
    9. Foster, John & Metcalfe, J. Stan, 2012. "Economic emergence: An evolutionary economic perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 420-432.
    10. Klarizze Anne Martin Puzon & Rachel M. Gisselquist, 2021. "Consolidating behavioural economics and rational choice theory: Insights from inequality research," WIDER Working Paper Series wp-2021-76, World Institute for Development Economic Research (UNU-WIDER).
    11. Horak, Sven, 2013. "Cross-cultural experimental economics and indigenous management research: Issues and contributions," Working Papers on East Asian Studies 92/2013, University of Duisburg-Essen, Institute of East Asian Studies IN-EAST.
    12. Jérôme Ballet & Emmanuel Petit & Delphine Pouchain, 2018. "What mainstream economics should learn from the ethics of care," Post-Print hal-02145302, HAL.

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