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Title:Does Macroeconomics Need Microeconomic Foundations? PDF Logo
Authors:Da Silva, Sergio
Issue Date:2009
Citation:[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 3 [Issue:] 2009-23 [Pages:] 1-11 [DOI/URN:] doi:10.5018/economics-ejournal.ja.2009-23
Abstract:I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.
Subjects:Microfoundations
neuroeconomics
econophysics
JEL:B22
B41
C82
D87
Persistent Identifier of the first edition:doi:10.5018/economics-ejournal.ja.2009-23
Creative Commons License:http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type:Article
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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