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From Imperialism to Inspiration: A Survey of Economics and Psychology

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  • Bruno S. Frey
  • Matthias Benz

Abstract

Economics and psychology are both sciences of human behaviour. This paper gives a survey of their interaction. First, the changing relationship between the two sciences is discussed: while economics was once imperialistic, it has become a science inspired by psychological insights. In order to illustrate this, recent developments and evidence for three major areas are presented: bounded rationality, non-selfish behaviour, and the economics of happiness.

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  • Bruno S. Frey & Matthias Benz, "undated". "From Imperialism to Inspiration: A Survey of Economics and Psychology," IEW - Working Papers 118, Institute for Empirical Research in Economics - University of Zurich.
    • Handle: RePEc:zur:iewwpx:118
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    Cited by:

    1. Cedrini, Mario & Fontana, Magda, 2015. "Mainstreaming. Reflections on the Origins and Fate of Mainstream Pluralism," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201510, University of Turin.
    2. Mario A. Cedrini & Roberto Marchionatti, 2017. "On the Theoretical and Practical Relevance of the Concept of Gift to the Development of a Non-imperialist Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(4), pages 633-649, December.
    3. Stavros A. Drakopoulos, 2020. "Pay Level Comparisons in Job Satisfaction Research and Mainstream Economic Methodology," Journal of Happiness Studies, Springer, vol. 21(3), pages 825-842, March.
    4. Mario Cedrini & Magda Fontana, 2018. "Just another niche in the wall? How specialization is changing the face of mainstream economics [Multidisciplinarity, interdisciplinarity, transdisciplinarity, and the sciences]," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(2), pages 427-451.
    5. Mehmet Nar, 2015. "The Effects of Behavioral Economics on Tax Amnesty," International Journal of Economics and Financial Issues, Econjournals, vol. 5(2), pages 580-589.
    6. Bianchi, Ana Maria, 2010. "A propósito de Antonio Maria: tendências recentes da metodologia econômica [On behalf of Antonio Maria: recent tendencies in economic methodology]," MPRA Paper 20571, University Library of Munich, Germany.
    7. Slavica Manic, 2016. "Economics Imperialism: SWOT Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(3), pages 151-161.
    8. Anna Carabelli & Mario Cedrini, 2011. "The Economic Problem of Happiness: Keynes on Happiness and Economics," Forum for Social Economics, Springer;The Association for Social Economics, vol. 40(3), pages 335-359, October.
    9. Margit Osterloh & Bruno S. Frey, 2009. "Research governance in academia: are there alternatives to academic rankings?," IEW - Working Papers 423, Institute for Empirical Research in Economics - University of Zurich.
    10. George Gotsis & Zoi Kortezi, 2008. "Philosophical Foundations of Workplace Spirituality: A Critical Approach," Journal of Business Ethics, Springer, vol. 78(4), pages 575-600, April.
    11. Pech Wesley J, 2010. "Behavioral Economics and the Basic Income Guarantee," Basic Income Studies, De Gruyter, vol. 5(2), pages 1-17, December.
    12. Margit Osterloh, 2007. "Psychologische Ökonomik: Integration statt Konfrontation," Schmalenbach Journal of Business Research, Springer, vol. 59(56), pages 82-111, January.
    13. Slavica Manic, 2016. "Economics Imperialism: SWOT Analysis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(3), pages 151-161, March.
    14. Elodie Brahic & Valérie Clément & Nathalie Moureau & Marion Vidal, 2008. "A la recherche des Merit Goods," Working Papers 08-08, LAMETA, Universtiy of Montpellier, revised Jun 2008.
    15. Stavros, Drakopoulos, 2021. "The Relation of Neoclassical Economics to other Disciplines: The case of Physics and Psychology," MPRA Paper 106597, University Library of Munich, Germany.
    16. Katja Rost & Margit Osterloh, 2008. "You Pay a Fee for Strong Beliefs: Homogeneity as a Driver of Corporate Governance Failure," CREMA Working Paper Series 2008-28, Center for Research in Economics, Management and the Arts (CREMA).
    17. Drakopoulos, Stavros A. & Katselidis, Ioannis, 2017. "The Relationship between Psychology and Economics: Insights from the History of Economic Thought," MPRA Paper 77485, University Library of Munich, Germany.

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    Keywords

    economics and psychology; behavioral economics; social science paradigm;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D00 - Microeconomics - - General - - - General

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