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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 theory, especially monopoly, oligopoly, and general equilibrium theory and welfare economics. His work aims to further and unite recent notions of behavioral and social economics.
This important work will be of interest to behavioral, social, and Keynesian economists, as well as other social scientists and philosophers interested in economic phenomena.
Sommario
Why Cognitive Economics?
Some Learning from Cognitive Science
Resources for Cognitive Economics
A Prospect of Cognitive Economics
Impulse-Filtering: A New Model of Choice
Groping: A Special case of Impulse-Filtering
Impulse Filtering as a Theory in Social Science
Impulse Filtering as a Theory of Will
Giving Reasons: A Linguistic Conception of Rationality
The Nexus of Fact and Value
Applications of the Linguistic Conception of Rationality
Political Economy: The Critical Study of Rationales for Public Policy
Emergent Rationality and Technical Progress
Rational Action Equilibrium
Rationality and Market Equilibrium
Applications of Heuristic Game Equilibrium
Sketch of a Theory of Creativity in Terms of Impulse-Filtering and the Linguistic Concept of Rationality
The Creative Enterprise
Final Summary
Selected Name Index
Subject Index
Info autore
ROGER A. McCAIN is Professor of Economics at Drexel University of Philadelphia. He has contributed to many scholarly publications and is the author of Markets, Decisions, and Organizations (1981).
