A Framework for Cognitive Economics

A Framework for Cognitive Economics

A Framework for Cognitive Economics

A Framework for Cognitive Economics

Synopsis

This is the first book-length work to integrate the insights of cognitive science fully into economics. It reviews a wide range of related work in both fields and proposes new approaches to choice theory, rationality, and interaction ("equilibrium") that are consistent with the limited cognitive capacity of real human beings. While joining with neoclassical economics in supporting the validity of supply-and-demand theory where it is literally applicable, McCain challenges most neoclassical equilibrium theory and welfare economics. His work aims to further and unite recent notions of behavioral and social economics.
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