Should post-Keynesians make a behavioural turn?

Artikel

This paper deals with the relationship between post-Keynesian and behavioural economics. I begin by responding critically to Paul Davidson's claim that Keynes was the first behavioural economist. Then I discuss some recent work in behavioural macroeconomics, which reveals some important strengths but also some fundamental weaknesses. Next I outline what (Old) behavioural economists have had to say about macroeconomics, beginning with the father of the school, Herbert Simon, and considering the contributions of some of his disciples. I then reverse the question and ask what post-Keynesians have had to say about behavioural economics, Old and New. I conclude by identifying some potential sources of difficulty and also suggesting some areas of macroeconomics where cooperation between post-Keynesians and behavioural economists seems especially promising.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: European Journal of Economics and Economic Policies: Intervention (EJEEP) ; ISSN: 2052-7772 ; Volume: 10 ; Year: 2013 ; Issue: 2 ; Pages: 231-242

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought: Macroeconomics ; General Aggregative Models: Keynes; Keynesian; Post-Keynesian
• Subject: behavioural economics ; macroeconomics ; post-Keynesian economics

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): King, John E.
• Event: Veröffentlichung
• (who): Edward Elgar Publishing
• (where): Cheltenham
• (when): 2013

Further information

• DOI: doi:10.4337/ejeep.2013.02.07
• Handle: http://hdl.handle.net/10419/277271
• Last update: 10.03.2025, 11:44 AM CET