Tuesday, June 10, 2008

What is the behavioral in behavioral economics?

Last week I attended the workshop "What is the behavioral in behavioral economics?", held at Trento in Northern Italy. The papers and posters were interesting and the debate was good so it was quite a useful session.

Erik Angner, Assistant Professor in Philosophy and Economics at University of Alabama at Birmingham gave a very interesting presentation. Angner's primary interests are in the history and philosophy of social science, and he has also written in relation to the measurement of subjective well-being (for example, here). With George Loewenstein, he is currently writing a book manuscript with the preliminary title Foundations of Behavioral Economics, which is to be published by Princeton University Press. Angner also has a working paper that develops a model of student performance.

It was a collaborative effort with Loewenstein that Angner presented in Trento - "What is the relationship between neoclassical and behavioral theory?". Some of the content from the talk is covered in this SSRN paper (forthcoming in Philosophy of Economics) by Loewenstein and Angner: "Behavioral Economics". In this paper, the authors discuss the historical origins of, and the specific form taken by, behavioral economics. I'll give some more comments on it at a later stage.

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