Home > Authors > Bina Agarwal > PSYCHOLOGY, RATIONALITY AND ECONOMIC BEHAVIOUR: CHALLENGING STANDARD ASSUMPTIONS; ED. BY BINA AGARWAL
PSYCHOLOGY, RATIONALITY AND ECONOMIC BEHAVIOUR: CHALLENGING STANDARD ASSUMPTIONS; ED. BY BINA AGARWAL
Economics has paid little attention to the psychology of economic behaviour, leading to somewhat simplistic assumptions about human nature. The psychological aspects have typically been reduced to standard utility theory, based on a narrow conception of rationality and self-interest maximization. The studies in this volume, some focused on analytical models and methodology, others on laboratory and field experiments, challenge standard economic assumptions - in particular the assumption of Homo economicus - and provide novel and complex understandings of human motivation and economic decision-making. They cover a wide range of aspects, including the role of self confidence, learning, altruism, inequality aversion, money illusion and notions of justice and fairness in explaining economic behaviour in a variety of contexts - the family, the community and the workplace. On the one hand,...
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