Human Behavior
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The Sacrificial Rites of Capitalism We Don’t Talk About
Aug 26, 2019
Author Supritha Rajan argues that self-interested competition may be the official line, but it’s far from the whole story
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Why the Dismal Science Cares About Happiness
Jul 31, 2019
Economics is often thought of as emotion-less, but Daniel Benjamin argues for happiness as a vital indicator
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Behavioral Economics: The Next Generation
Feb 27, 2019
To understand behavior and choice, we need to borrow from not just cognitive science but also sociology.
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How Imperfect Knowledge Shapes Financial Markets
Feb 15, 2019
Asset markets are indispensable in harnessing society’s diverse views and insights about future business performance. But those views are shaped as much by emotion and crowd mentality as by rational expectations.
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The Four Horsemen of the Econopocalypse
Jul 26, 2017
If standard economic theory can’t explain a traffic jam, how can it cope with crises?
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What Are the Moral Limits of Markets?
Apr 10, 2014
In recent decades, market values have crowded out non- market norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, we have drifted from having a market economy to being a market society. Is this where we want to be?
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Membership Theory of Inequality
Mar 15, 2017
A transition from the conventional policy of “redistributing income” to “redistributing membership”, could promote economic integration across communities and intergenerational mobility.
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Is Poverty More Worrying than Inequality?
Sep 6, 2017
Xavier Gabaix argues that public policies should prioritize alleviating deprivation at the bottom over narrowing the rich-poor gap
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Externalities and Public Goods: Theory OR Society?
Nov 19, 2015
How much does the standard theory of externalities and public goods really say?
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Human Decisions
Apr 11, 2012 | 03:00—04:45
The human brain relies on three devices for its decisions: emotion controls; addictive learning; and intellectual processing. Understanding the conditions under which the three devices are engaged is essential for conscious decision-making.
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Conference paper
Irreducible Uncertainty and its Implications: A Narrative Action Theory for Economics.
Apr 2013
At the heart of economics is a theory of action. It reflects views about how human beings make economic decisions and leads to an analysis of aggregate consequences.
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Conference paper
Market Psychology, Animal Spirits and Reflexivity
Apr 2013
Neoclassical economics has abolished the role of psychology in decision making by assuming that all individuals are rational optimizers with rational expectations about future events.
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What is the Role of Psychological Considerations in Economics?
Apr 4, 2013 | 09:50—11:30
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Conference paper
Scarcity, Preferences and Cooperation: A Mimetic Analysis
Apr 2013
In “The Ambivalence of Scarcity” which is my contribution to L’Enfer des choses. René Girard et la logique de l’économie, written by Jean-Pierre Dupuy and originally published in French in 1978, I attempt to apply mimetic theory to modern economics and to economicphenomena, and also to explain why economic issues and economics as a discipline occupy such an important place in the modern world.