How mindless is standard economics really?

Schipper, Burkhard C (2009): How mindless is standard economics really?

Abstract

Contrary to claims by Gul and Pesendorfer (2008), I show that standard economics makes use of non-choice evidence in a meaningful way. This is because standard economics solely grounded in the theory of choice is "incomplete". That is, it has content that can not be revealed with any general choice procedure.

• Item Type: MPRA Paper
• Language: English
• Keywords: Revealed preference; theory of choice; neuroeconomics; non-choice evidence; machines
• Subjects: A - General Economics and Teaching > A1 - General Economics > A12 - Relation of Economics to Other Disciplines; C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C90 - General; D - Microeconomics > D6 - Welfare Economics > D60 - General; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D80 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C80 - General; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D87 - Neuroeconomics

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