Psychological Economics Development, Tensions, Prospects
Peter E. Earl There is no doubt that it is appropriate for a series on Modern Economic Thought to include a book on the recent development of economic analysis incorporating ideas from psychology. This book was designed to appear in 1987, 15 years after t
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Recent Economic Thought Series Warren J. Samuels, Editor Michigan State University East Lansing, Michigan, U.S.A.
Other titles in this series: Feiwel, G. R., Samuelson and Neoclassical Economics Wade, L. L., Political Economy: Modern Views Zimbalist, A., Comparative Economic Systems: Recent Views Darity, W., Labor Economics: Modern Views Jarsulic, M., Money and Macro Policy Samuelson, L., Microeconomic Theory Bromley, D., Natural Resource Economics: Policy Problems and Contemporary Analysis Mirowski, P., The Reconstruction of Economic Theory Field, A. J., The Future of Economic History Lowry, S. T., Pre-classical Economic Thought Officer, L. H., International Economics Asimakopulos, A., Theories of Income Distribution
This series is devoted to works that present divergent views on the development. prospects, and tensions within some important research areas of international economic thought. Among the fields covered are macromonetary policy. public finance. labor and political economy. The emphasis of the series is on providing a critical. constructive view.of each of these fields. as well as a forum through which leading scholars of international reputation may voice their perspectives on important related issues. Each volume in the series will be self-contained; together these volumes will provide dramatic evidence of the variety of economic thought within the scholarly community.
PSYCHOLOGICAL ECONOMICS Development, Tensions, Prospects
Edited by PETER E. EARL
Senior Lecturer in Economics, University of Tasmania
Kluwer Academic Publishers Boston/Dord recht/Lancaster
Distributors
for the United States and Canada: Kluwer Academic Publishers, 101 Philip Drive, Assinippi Park, Norwell, MA 02061. for the UK and Ireland: Kluwer Academic Publishers, MTP Press Limited, Falcon House, Queen Square, Lancaster LAI IRN, UK. for all other countries: Kluwer Academic Publishers Group, Distribution Centre, P.O. Box 322, 3300 AH Dordrecht, The Netherlands
Library of Congress Cataloging In Publication Data Psychological economics. Bibliography: p. Includes index. 1. Economics - Psychological aspects. I. Earl, Peter E. HB74.P8P697 1987 330'.01'9 87-3050 ISBN-13: 978-94-011-7777-1 e-ISBN-13: 978-94-011-7775-7 001: 10.1007/978-94-011-7775-7 Copyright © 1988 by Kluwer Academic Publishers, Boston Softcover reprint of the hardcover 1st edition 1988 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publishers. Kluwer Academic Publishers, 101 Philip Drive, Assinippi Park, Norwell, MA 02061
Contents
About the Contributors
vii
Acknowledgments
xi
1. INTRODUCTION by Peter E. Earl 2. HUMAN ADAPTABILITY AND ECONOMIC SURPRISE by Randall Bausor
3. LEARNING AND DECISION-MAKING IN ECONOMICS
AND PSYCHOLOGY: A METHODOLOGICAL PERSPECTIVE
by Malcolm Rutherford
4. ON PSYCHING UP ECONOMICS by Rod Cross 5. NEOCLASSICAL ECONOMICS AND THE PSYCHOLOGY OF
