Generalization of results and neoclassical rationality: unresolved controversies of behavioural economics methodology

  title={Generalization of results and neoclassical rationality: unresolved controversies of behavioural economics methodology},
  author={Robin Maialeh},
  journal={Quality \& Quantity},
  • R. Maialeh
  • Published 1 July 2019
  • Economics
  • Quality & Quantity
Many of behavioural economists have succumbed to misconception that economic models must be identified with observable reality. Therefore, behavioural approach enriches the sober neoclassical models with various psychological aspects of decision making in order to describe immediate reality more accurately. However, in contrast to natural sciences, social sciences aim at variance-based phenomena and thus the trade-off between theoretical objectiveness and empirical particularity remains… Expand
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