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The ‘new economic synthesis’ (revolution?) is under way: Will Homo economicus topple?

See on Scoop.itBounded Rationality and Beyond

A “new economic synthesis” (some are calling it a revolution) is under way, and long-held notions – Homo economicus and wisdom of the crowd among them – might just topple along with many of the tenets of neoclassical economic theory, according to a feature article in New Scientist that quotes a number of SFI external professors and collaborators.

The synthesis, notes the article, is a coming together of macroeconomics with not only behavioral economics, but with other fields, too – anthropology, ecology, and evolutionary biology, to name a few. Approaches from these fields could help economists account for more and subtler determinants of human behavior such as beliefs, cultural norms, and reactions to each other. 

The article touches a number of complex systems ideas that have been explored at SFI, and by SFI researchers, for nearly three decades.

#neuroeconomy #behavioral_economy #bounded_rationality

See on santafe.edu



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agosto: 2015
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