Does Macroeconomics Need Microeconomic Foundations?

Artikel

I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Economics: The Open-Access, Open-Assessment E-Journal ; ISSN: 1864-6042 ; Volume: 3 ; Year: 2009 ; Issue: 2009-23 ; Pages: 1-11 ; Kiel: Kiel Institute for the World Economy (IfW)

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought: Macroeconomics ; Economic Methodology ; Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access ; Neuroeconomics
• Subject: Microfoundations ; neuroeconomics ; econophysics ; Mikroökonomische Fundierung ; Neuroökonomie ; Econophysics

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Da Silva, Sergio
• Event: Veröffentlichung
• (who): Kiel Institute for the World Economy (IfW)
• (where): Kiel
• (when): 2009

Further information

• DOI: doi:10.5018/economics-ejournal.ja.2009-23
• Handle: http://hdl.handle.net/10419/27542
• Last update: 10.03.2025, 11:42 AM CET