9783319768090-3319768093-A Brain-Focused Foundation for Economic Science: A Proposed Reconciliation between Neoclassical and Behavioral Economics

A Brain-Focused Foundation for Economic Science: A Proposed Reconciliation between Neoclassical and Behavioral Economics

ISBN-13: 9783319768090
ISBN-10: 3319768093
Edition: 1st ed. 2018
Author: McKenzie, Richard B.
Publication date: 2018
Publisher: Palgrave Macmillan
Format: Hardcover 234 pages
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Book details

ISBN-13: 9783319768090
ISBN-10: 3319768093
Edition: 1st ed. 2018
Author: McKenzie, Richard B.
Publication date: 2018
Publisher: Palgrave Macmillan
Format: Hardcover 234 pages

Summary

Acknowledged authors McKenzie, Richard B. wrote A Brain-Focused Foundation for Economic Science: A Proposed Reconciliation between Neoclassical and Behavioral Economics comprising 234 pages back in 2018. Textbook and eTextbook are published under ISBN 3319768093 and 9783319768090. Since then A Brain-Focused Foundation for Economic Science: A Proposed Reconciliation between Neoclassical and Behavioral Economics textbook was available to sell back to BooksRun online for the top buyback price or rent at the marketplace.

Description

This book argues that Lionel Robbins’s construction of the economics field’s organizing cornerstone, scarcity―and all that has been derived from it from economists in Robbins’s time to today―no longer can generate general consent among economists. Since Robbins’ Essay, economists have learned more than Robbins and his cohorts could have imagined about human decision making and about the human brain that is the lynchpin of human decision making. This book argues however that behavioral economists and neuroeconomists, in pointing to numerous ways people fall short of perfectly rational decisions (anomalies, biases, and downright errors), have saved conventional economics from such self-contradictions in what could be viewed as a wayward approach. This book posits that the human brain is the ultimate scarce resource, and that a focus on the brain can bring a new foundation for economics and can save the discipline from hostile criticisms from a variety of non-economists (many psychologists).

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