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Attribute substitution, earlier-generation economic approaches and behavioural economics
Review of Social Economy Pub Date : 2021-01-23 , DOI: 10.1080/00346764.2021.1874498
Theodore Koutsobinas 1
Affiliation  

ABSTRACT

The present paper examines attribute substitution in terms of both heuristics and attribution theory in social psychology. Alternative ‘old’ approaches in psychology were special because they considered choice in terms that were similar to attributional inference in social psychology and anticipated limitations of the static heuristics and biases approach. Attribute substitution plays an important role in reflective reasoning as an independent entity relative to rationality and produces good decisions, even those are sub-optimal and may be influenced by primitive processes such as intuition and habits. The attribute-substitution research enhances our understanding of intense shifts in economic expectations. It makes possible the conceptual incorporation of substantive theoretical constructions, which are inherent in psychological propensities of alternative, and mainly, heterodox approaches in economics such as Post Keynesian, Institutional and Austrian economics. This research agenda paves the way for possible forms of synthesis of those theories with behavioural economics.



中文翻译:

属性替代、早期经济方法和行为经济学

摘要

本文根据社会心理学中的启发式和归因理论来检验属性替换。心理学中的替代“旧”方法是特殊的,因为它们以类似于社会心理学中的归因推理的术语来考虑选择,并预期静态启发式和偏见方法的局限性。属性替代作为相对于理性的独立实体在反思推理中发挥着重要作用,并产生良好的决策,即使是次优的并且可能受到直觉和习惯等原始过程的影响。属性替代研究增强了我们对经济预期剧烈变化的理解。它使实质性理论结构的概念结合成为可能,这是替代心理倾向所固有的,主要是经济学中的异端方法,如后凯恩斯主义、制度经济学和奥地利经济学。该研究议程为将这些理论与行为经济学相结合的可能形式铺平了道路。

更新日期:2021-01-23
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