Nobel Lecture: The Economic Way of Looking at Behavior

@article{Becker1993NobelLT,
  title={Nobel Lecture: The Economic Way of Looking at Behavior},
  author={Gary Stanley Becker},
  journal={Journal of Political Economy},
  year={1993},
  volume={101},
  pages={385 - 409}
}
  • G. Becker
  • Published 1993
  • Economics
  • Journal of Political Economy
An important step in extending the traditional theory of individual rational choice to analyze social issues beyond those usually considered by economists is to incorporate into the theory a much richer class of attitudes, preferences, and calculations. While this approach to behavior builds on an expanded theory of individual choice, it is not mainly concerned with individuals. It uses theory at the micro level as a powerful tool to derive implications at the group or macro level. The lecture… Expand
Personality and Economics
Mainstream modern economics studies the decision behavior of rational agents. In a prototypical model, individuals take four sets of primitives (preferences, information, technology, and incentiveExpand
The Rise of Behavioral Economics: A Quantitative Assessment
This article is devoted to the issue of operationalizing and empirically measuring the development of behavioral economics, focusing on trends in the academic literature. The main research goal is toExpand
The new microeconomics: a psychological, institutional, and evolutionary paradigm with neoclassical economics as a special case
Microeconomics requires a new grounding or formulation that can account for a broader range of socioeconomic behavior than neoclassical economics does. The core of the neoclassical economics researchExpand
The Values of Economics
This study addresses a fundamental concern of research on economic ethics by examining the values of economics. While other studies have linked the study of economics to the adoption of rationalExpand
The Impact of Gary Becker's Work on Sociology
The awarding of the 1992 Nobel Pnze for Economics to Gary Becker draws attention to Becker's outstanding work in economics. At the same time, it draws attention to a new phenomenon, for which BeckerExpand
THE UTILITARIAN FOUNDATIONS OF THE ECONOMIC APPROACH TO HUMAN BEHAVIOR
The economic approach to the study of human behavior has been presented by its foremost representative as the most effective method of studying social phenomena. Gary Becker´s view supposes that, onExpand
The Utilitarian Foundations of the Economic Approach to Human Behavior
The economic approach to the study of human behavior has been presented by its foremost representative as the most effective method of studying social phenomena. Gary Becker´s view supposes that, onExpand
ECONOMIC ANALYSIS OF LAW: AN INQUIRY OF ITS UNDERLYING LOGIC *
Law and economics is a success story of interdiscip linary scholarship, and the success has been attributed to the strength of economics in providing a sound behavioral theory. It is argued in thisExpand
Rationalizing Choice: A Review Essay on Peter Leeson’s WTF?!: An Economic Tour of the Weird
The methodology of economics has been applied with increasing frequency to nonmarket behavior and interactions. Peter Leeson's book WTF?!: An Economic Tour of the Weird illustrates both the promiseExpand
Incentives and the Economic Point of View: The Case of Popular Economics
This paper critically examines some underlying assumptions of the “popular” economics writing of recent years, e.g. the Freakonomics literature. I examine two problems that emerge from theseExpand
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 95 REFERENCES
The Economics of Discrimination
This second edition of Gary S. Becker's The Economics of Discrimination has been expanded to include three further discussions of the problem and an entirely new introduction which considers theExpand
On the Mechanics of Economic Development
This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models areExpand
Altruism and Time Consistency: The Economics of Fait Accompli
This paper analyzes the strategic and intertemporal interaction between two economic agents who have "overlapping" concerns, such as altruistic concerns for each other's welfare. The agents may beExpand
Education and the Distribution of Earnings: The Maintenance of the status Quo
Research in the field of human capital theory in the last one decade or so have hardly left any scholar in the field skeptical about the existence of a positive relationship between education andExpand
A Theory of Social Interactions
This essay uses simple tools of economic theory to analyze interactions between the behavior of some persons and different characteristics of other persons. Although these interactions are emphasizedExpand
Labor as a Quasi-Fixed Factor
  • W. Oi
  • Economics
  • Journal of Political Economy
  • 1962
T HE cyclical behavior of labor markets reveals a number of puzzling features for which there are no truly satisfying explanations. Included among these are (1) occupational differences in theExpand
AN ANALYSIS OF THE PRINCIPAL-AGENT PROBLEM
Most analyses of the principal-agent problem assume that the principal chooses an incentive scheme to maximize expected utility subject to the agent’s utility being at a stationary point. AnExpand
The Statistical Theory of Racism and Sexism
My recent book, Inflation Policy and Unemployment Theory, introduces what is called the statistical theory of racial (and sexual) discrimination in the labor market.' The theory fell naturally out ofExpand
Incentive Effects of Affirmative Action
This article illustrates with a formal economic model a concern often raised by critics of affirmative action—that the policy may discourage its beneficiaries from acquiring work skills. Ironically,Expand
...
1
2
3
4
5
...