Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/25665
Authors: 
Güth, Werner
Year of Publication: 
2007
Series/Report no.: 
Jena economic research papers 2007,099
Abstract: 
Economic theory has evolved without paying proper attention to behavioral approaches, especially to social, economic, and cognitive psychology. This has recently changed by including behavioral economics courses in many doctoral study programs. Although this new development is most welcome, the typical topics of the behavioral economics courses are not truly behavioral. More specifically, we question whether neoclassical repairs or game fitting exercises as well as more or less mechanic adaptation processes qualify as behavioral approaches. To avoid criticizing without offering alternatives, we suggest some truly behavioral concepts, especially the satisficing approach.
Subjects: 
(Un)Bounded rationality
Satisficing
Learning
Experimental and Behavioral Economics
JEL: 
A11
B41
B52
C72
C91
Document Type: 
Working Paper

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