publication . Book . Article . Research . 2018

The Making of Behavioral Development Economics

Demeritt, Allison; Hoff, Karla;
Open Access
  • Published: 24 Jan 2018
  • Publisher: The World Bank
  • Country: United States
Abstract
A core insight from early behavioral economics is that much of human judgment and behavior is influenced by "fast thinking" that is intuitive, associative, and automatic; very little human thinking resembles the rational thinking that characterizes homo economicus. What is less well-recognized is that innate reliance on cognitive shortcuts means that cultural mental models --categories, concepts, social identities, narratives, and worldviews -- profoundly influence judgment and behavior. Individuals have a cultural "toolkit" or "repertoire" of mental models that they use to perceive and interpret a situation and construct a response. Many researchers have connec...
Subjects
free text keywords: CULTURE, SCHEMA, COLLECTIVE DECISION, PSYCHOLOGICAL INFUENCES, SOCIAL INFLUENCES, DECISION MAKING, Epistemology, Economics, Behavioral economics, Neoclassical economics, Rationality, Schema (psychology), Cognition, Reductionism, Homo economicus, Rational choice theory, Bounded rationality, Economics and Econometrics, History
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publication . Book . Article . Research . 2018

The Making of Behavioral Development Economics

Demeritt, Allison; Hoff, Karla;