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Psychology and Economics rather than Psychology versus Economics: Cultural differences but no barriers!

Author

Listed:
  • Hermann Brandstätter

    (University of Linz)

  • Werner Güth

    (Max Planck Institute of Economics, Jena, Germany)

  • Hartmut Kliemt

    (Frankfurt School of Finance & Management, Frankfurt am Main, Germany)

Abstract

During the last three decades the ascent of behavioral economics clearly helped to bring down artificial disciplinary boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice tradition - and, indirectly, of behaviorism - we scrutinize in an exemplary manner how the development of some kind of "cognitive economics" might mirror the rise of "cognitive psychology" without endangering the advantages of the division of labor and of disciplinary specialization.

Suggested Citation

  • Hermann Brandstätter & Werner Güth & Hartmut Kliemt, 2009. "Psychology and Economics rather than Psychology versus Economics: Cultural differences but no barriers!," Jena Economics Research Papers 2009-017, Friedrich-Schiller-University Jena.
    • Handle: RePEc:jrp:jrpwrp:2009-017
    as

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    File URL: https://oweb.b67.uni-jena.de/Papers/jerp2009/wp_2009_017.pdf
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    More about this item

    Keywords

    bounded rationality; game theory; satisficing; interdisciplinary research; experimental economics; economic psychology;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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