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Mar 1, 2019 · The paper starts with a brief sketch of the history of the relationship between economics and psychology, focusing also to the recent literature which points to a reconsideration of this relationship.
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Jun 23, 2017 · Abstract. This chapter describes the emergence of economic psychology as a discipline, including key developments in theories of economic decision-making, and considers the relationship between behavioural economics and economic psychology. It introduces some of the economic-psychological issues related to life-span development and to society.
- Rob Ranyard, Vera Rita De Mello Ferreira
- 2017
- 1 Hermeneutic Paradigm
- 2 Utility Theory Paradigm
- 3 Psychoanalytic Paradigm
- Box 2: Sigmund Freud
- 4 Macroeconomic Psychology Paradigm
- Box 3: George Katona
- 5 Sociopsychological Paradigm
- 6 Behavioral Decision Theory Paradigm
- 7 Behavioral Economics Paradigm
- Summary
Shionoya (2009) stated that economics and psychology originally had a very close relationship. Economics was thought of as moral science and mental science, and it was also related to the hermeneutics of W. Dilthey. J. M. Keynes stated that moral science “includes all the individual sciences treating a human being as one with subjective ability, th...
The tradition of utility theory can be traced back at least to the formulation of the mathematician D Bernoulli in the eighteenth century. He submitted the idea of expected utility to solve the St. Petersburg Paradox (to be discussed later) introduced by N. Bernoulli. The basis of this idea is that humans do not make decisions based on mathematical...
After immigrating to New York in 1937, E. Dichter, influenced by S Freud, the founder of psychoanalysis, explored consumers’ unconsciousness in “motivation research” and conducted research in the USA from the 1940s. Dichter tried to reveal the consumption motivation hidden behind behaviors related to purchasing products by conducting in-depth inter...
Born in 1856; deceased in 1939. He received a medical degree in 1881 at the University of Vienna. He is the founder of psychoanalysis, who created a new approach to the understanding of the human unconsciousness. His thought influenced the psychoanalytic approach of consumer research such as motivation research proposed by Ernest Dichter. https://w...
This paradigm can be attributed to G. Katona, who was born in Hungary and studied basic psychology under the influence of Gestalt psychology. He later went to the USA to begin his research on the psychological factors of the problem of inflation during the Second World War. In his works, he studied the psychological factors of macroeconomic phenome...
Born in 1901; deceased in 1981. He graduated with a doctorate in Experimental Psychology from the University of Göttingen, Germany in 1921, and then moved to USA in 1933. He was working on the application of economic psychology to macroeconomics, developing measures of consumer expectations. Katona wrote many books and papers for macroeconomic aspe...
This paradigm overlaps with the macroeconomic psychology paradigm of Katona and colleagues. Rather than explaining macroeconomic phenomena, it is used as a general term for research approaches applying the concept of “attitude” in the prediction of personal economic behavior. The attitude is a concept that is commonly used in social psychology, and...
In research on decision making, studies on normative theory traditionally precede others, and in a way of comparing the theory there with actual human decision making behavior, research on behavioral decision theory—a descriptive theoretical research—has also been conducted (Kobashi, 1988). W. Edwards is the founder of behavioral decision theory. H...
Behavioral economics is a study that aims to describe human economic and to explore human judgment and decision making in the economic situation, mainly by conducting measurements based on experiments and surveys. In this respect, it is common to describe the decision making process with the behavioral decision theory paradigm shown earlier. In add...
Economic psychology studies the psychological aspects behind various economic phenomena and explores the mechanisms of people’s judgment, decision making, and behaviors in different economic situat...Economic behavior is directly involved in activities through which humans acquire goods and services and consume and dispose of in their socioeconomic lives.Economic psychology research is useful for elucidating various economic phenomena, marketing activities of organizations like companies, public policies like consumer protection and education, and...Economic psychology research features theoretical frameworks, such as the hermeneutic paradigm, utility theory paradigm, psychoanalytic paradigm, macroeconomic psychological paradigm, social psycho...- Kazuhisa Takemura
- kazupsy@waseda.jp
- 2019
Aug 1, 2011 · In particular, this overview highlights for the personality psychologist the advantages that can be gained from the wealth of theory and methods in economics which can be utilized to address key issues in personality psychology (e.g., use of economic games to test evolutionary models).
- Eamonn Ferguson, James J. Heckman, Philip Corr
- 2011
Jan 1, 2018 · Abstract. Several developments have joined to stimulate economists to think about issues that have been on the forefront of psychological research. First, the information revolution in economics has focused economists on the subtle nature of individual information processing. Secondly, developments in game theory have so successfully identified ...
Economic psychology is the interdisciplinary investigation of the interface between psychology and economics. It is concerned with the psychological basis of the economic behaviors of individuals, and the impacts of economic processes on individuals' psychology. It uses both economic and psychological concepts and research methods.
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economic psychology, behavioural economics and social psychology. Erich Kirchler is Professor of Economic Psychology at the Faculty of Psychology, University of Vienna, Austria. He is the author of many papers in edited collections and journals and of Con ict and decision making in close relationships (2001) and The economic psychology of tax ...
