Advancing Beyond Advances in Behavioral Economics

Drew Fudenberg

187 citations0/0 files storedJournal of Economic Literature

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Decision-Making and Behavioral Economics Economic Theory and Institutions Experimental Behavioral Economics Studies

Abstract

This essay discusses the field of behavioral economics, with a focus on the papers in Advances in Behavioral Economics. These papers show that there is a body of “behavioral facts” that is both economically significant and regular enough to be modeled. For the field to advance further, it should devote more attention to the foundations of its models, and develop unified explanations for a wider range of phenomena.

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References

1974Judgment under Uncertainty: Heuristics and Biases 1975Judgment under Uncertainty: Heuristics and Biases 1999A Theory of Fairness, Competition, and Cooperation 2002Time Discounting and Time Preference: A Critical Review 1997Golden Eggs and Hyperbolic Discounting 2011Incorporating Fairness into Game Theory and Economics 2000Self-regulation and depletion of limited resources: Does self-control resemble a muscle?n.d.A model of investor sentiment /

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