Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/141460
Authors: 
Akerlof, George A.
Snower, Dennis J.
Year of Publication: 
2016
Series/Report no.: 
IZA Discussion Papers 9701
Abstract: 
Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events; motivating action; assigning social roles and identities; defining power relations; and establishing and conveying social norms. This paper describes the role narratives play in decision making, as it also juxtaposes this description against the backdrop of the Bolshevik-spawned narrative that played a critical role in the history of Russia and the Soviet Union in the 20th Century.
Subjects: 
narrative
motivation
attention
prediction
identity
social assignment
JEL: 
A12
A13
A14
D03
D04
D20
D23
D30
D62
D71
D72
D74
E02
E03
Document Type: 
Working Paper

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