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  • 1
    Online Resource
    Online Resource
    Washington, D.C. : World Bank Group, Development Research Group, Macroeconomics and Growth Team
    UID:
    gbv_1016180853
    Format: 1 Online-Ressource (circa 38 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8317
    Content: A core insight from early behavioral economics is that much of human judgment and behavior is influenced by "fast thinking" that is intuitive, associative, and automatic; very little human thinking resembles the rational thinking that characterizes homo economicus. What is less well-recognized is that innate reliance on cognitive shortcuts means that cultural mental models-categories, concepts, social identities, narratives, and worldviews-profoundly influence judgment and behavior. Individuals have a cultural "toolkit" or "repertoire" of mental models that they use to perceive and interpret a situation and construct a response. Many researchers have connected cultural mental models to economic development, yet they rarely identify their research findings as "behavioral" economics. This research constitutes a second strand of behavioral economics that illuminates the tight interlinkages between preferences, culture, and institutions and points to new policy opportunities. It brings the discipline almost full circle back to 18th and 19th century perspectives. This essay cautions against strong reductionism in which sociological influences on decision making are squeezed into a rational actor model
    Additional Edition: Erscheint auch als Druck-Ausgabe Demeritt, Allison The Making of Behavioral Development Economics Washington, D.C : The World Bank, 2018
    Language: English
    Keywords: Graue Literatur
    URL: Volltext  (Deutschlandweit zugänglich)
    Author information: Hoff, Karla Ruth 1953-
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