Striving for Balance in Economics: Towards a Theory of The Social Determination of Behavior Hoff, Karla Stiglitz, Joseph E. 2016-05-06T20:48:44Z 2016-05-06T20:48:44Z 2016-06
dc.description.abstract This paper is an attempt to broaden economic discourse by importing insights into human behavior not just from psychology, but also from sociology and anthropology. Whereas in standard economics the concept of the decision-maker is the rational actor, and in early work in behavioral economics it is the quasi-rational actor influenced by the context of the moment of decision, in some recent work in behavioral economics, the decision-maker could be called the enculturated actor. This actor's preferences, perception, and cognition are subject to two deep social influences: (a) the social contexts to which he has become exposed and, especially, accustomed; and (b) the cultural mental models—including categories, identities, narratives, and worldviews—that he uses to process information. The paper traces how these factors shape behavior through the endogenous determination of preferences and the lenses through which individuals see the world—their perception and interpretation of situations. The paper offers a tentative taxonomy of the social determinants of behavior and describes the results of controlled and natural experiments that only a broader view of these determinants can plausibly explain. The perspective suggests more realistic models of human behavior for explaining outcomes and designing policies. en
dc.identifier.citation Journal of Economic Behavior & Organization
dc.identifier.issn 0167-2681
dc.language.iso en_US
dc.publisher Elsevier
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.subject behavioral economics
dc.subject culture
dc.subject gender
dc.subject role model
dc.subject sociology
dc.title Striving for Balance in Economics en
dc.title.subtitle Towards a Theory of The Social Determination of Behavior en
dc.type Journal Article en
dc.type Article de journal fr
dc.type Artículo de revista es
dspace.entity.type Publication
okr.associatedcontent Journal website (version of record)
okr.associatedcontent Working paper version (pre-print)
okr.associatedcontent Policy Research Talk (video)
okr.associatedcontent Policy Research Talk (slide presentation) 2016-03-03
okr.doctype Publications & Research :: Journal Article
okr.doctype Publications & Research
okr.externalcontent External Content
okr.identifier.doi 10.1016/j.jebo.2016.01.005
okr.identifier.doi 10.1596/24253 105338 105338
okr.journal.nbpages 25-57
okr.language.supported en
okr.peerreview Academic Peer Review
okr.topic Macroeconomics and Economic Growth :: Economic Theory & Research
okr.topic Social Development :: Psychology
okr.topic Culture and Development :: Culture in Sustainable Development
okr.topic Gender :: Gender and Development
okr.topic Social Development :: Social Analysis
okr.unit Macroeconomics and Growth Team, Development Research Group (DECMG)
okr.volume 126(Part B)
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