Academia.eduAcademia.edu

Cognitive economics

description59 papers
group127 followers
lightbulbAbout this topic
Cognitive economics is an interdisciplinary field that examines how psychological factors and cognitive processes influence economic decision-making. It integrates insights from psychology, behavioral economics, and cognitive science to understand how individuals perceive, interpret, and respond to economic information, ultimately affecting market behavior and economic outcomes.
lightbulbAbout this topic
Cognitive economics is an interdisciplinary field that examines how psychological factors and cognitive processes influence economic decision-making. It integrates insights from psychology, behavioral economics, and cognitive science to understand how individuals perceive, interpret, and respond to economic information, ultimately affecting market behavior and economic outcomes.

Key research themes

1. How can neuroscience and cognitive science reshape economic theories of decision-making beyond 'as if' models?

This research area investigates the integration of neuroscientific insights into economic decision-making models, moving beyond traditional 'as if' assumptions based on revealed preferences to models informed by brain function and cognitive processes. It matters because understanding the actual neural and cognitive mechanisms underlying choices can address key limitations of classical economics, refine theoretical constructs such as utility and rationality, and bridge micro-level cognition with macroeconomic behavior.

Key finding: Identifies two approaches—incremental, which refines existing economic models by incorporating neuroscience constructs such as addiction neurobiology, and radical, which proposes rethinking the foundations of economics to... Read more
Key finding: Critically argues that conventional neoclassical economic decision models, based on pure rational choice, neglect underlying neurobiological factors governing decision making. It details how bio-behavioural complexity,... Read more
Key finding: Reviews how cognitive neuroscience methods (fMRI, EEG, reaction times, eye tracking) contribute to economics mainly by providing inspiration for new models linking environmental parameters to behaviors. It stresses that... Read more
Key finding: Finds through controlled experiments that exogenously imposed cognitive load impairs subjects' reasoning ability but does not significantly affect the consistency of choices with economic rationality axioms (GARP). This... Read more
Key finding: Critically evaluates the widespread use of dual process theory (fast/automatic 'System 1' vs slower/deliberate 'System 2') in economics, arguing that since DPT’s theoretical foundations and empirical support are compromised,... Read more

2. What are the cognitive and psychological limitations to the classical assumptions of economic rationality and selfishness?

This theme addresses how cognitive psychology and behavioral experiments reveal departures from classical economic assumptions of perfectly rational and selfish agents. It matters because recognizing heterogeneity in preferences, the influence of social motives like fairness and reciprocity, and framing effects challenges foundational economics, necessitating models incorporating bounded rationality, psychological realism, and social considerations.

Key finding: Documents extensive empirical evidence and theoretical elaboration showing that the strict assumptions of selfishness and unchanging tastes in economics are contradicted by psychological and behavioral experiments such as... Read more
Key finding: Provides a historical analysis revealing that the integration of psychology into economics, central to behavioral economics, has roots in early 20th-century economic thought. It shows that past debates on incorporating... Read more
Key finding: Introduces identity and consciousness as critical psychological constructs influencing economic behavior. Explores how economic agents’ awareness of decision-making and the interplay of individual and social identity... Read more
Key finding: Details the behavioral economics approach that relaxes assumptions of perfect rationality, willpower, and self-interest. It emphasizes experiment-driven modifications of economic theory focusing on prediction accuracy over... Read more

3. How does the concept of 'cognitive institutions' extend understandings of institutions and collective cognition within economic systems?

This theme explores the philosophical and institutional economic perspectives that cognition extends beyond individual minds to include external social, normative, and institutional elements—termed 'cognitive institutions.' This matters because recognizing institutions as constitutive components of collective cognition challenges internalist models, offering a conceptual foundation for understanding how shared mental models and societal scaffolding enable and shape economic behavior at a collective level.

Key finding: Introduces the notion of 'cognitive institutions' grounded in the philosophy of the extended mind, emphasizing that some cognitive processes are constituted by social and normative institutions. It extends institutional... Read more
Key finding: Analyzes academic rentiership as a form of modal power controlling plausible knowledge claims, linking it to the broader cognitive economy concept. The study contextualizes how institutionalized control over knowledge shapes... Read more
Key finding: Argues for recognizing cognitive economics as the study of economic phenomena directly linked to mental processes, using distinctive data types like expectations, cognitive ability, and attitudes. Conceptualizes cognitive... Read more

All papers in Cognitive economics

This thesis explores the evolution and impact of behavioral economics on public policy, with a focus on how cognitive biases and psychological insights have reshaped the traditional view of rational economic decisionmaking. Drawing on the... more
A quattordici anni dalla risoluzione ONU 65/309, "Happiness: towards a holistic approach to development", il modello di GNH (Gross National Happiness, Felicità Interna Lorda) del Bhutan emerge con rinnovata forza come proposta alternativa... more
This paper introduces the concept of the Absorption Economy—a structural model for understanding persistent asset price inflation, declining real yields, and the growing disconnect between capital value and productive output. It argues... more
Quando si apre una porta non è facile immaginare cosa vi sia dietro. La porta, almeno metaforicamente, venne aperta il 9 ottobre 2002 quando migliaia di e-mail e fax diffusero in poche ore il comunicato ufficiale dell"Accademia di Scienze
This study describe an experiment on individual learning in the domain of cognitive economics. The authors' main goal is to observe and to describe how subjects elaborate rules and regularities in problem solving. Involved subjects are... more
This paper introduces the concept of consciousness in the debate on the role of identity in economics. After a brief review of the main issues emerged from this literature, it illustrates two neurobiological theories on the nature of... more
L'articolo analizza il fenomeno della laudatio temporis acti, verificando se esso sia un processo puramente psicologico o possa contenere elementi oggettivi e reali, che determinano il giudizio di valore su un'epoca rispetto ad un'altra.
Positive psychology, founded by Martin Seligman in 1998, has established itself very quickly in the international scene as the "new science of well-being". This kind of psychology affirms a general change in relation to the... more
This research focuses on a self-organizing network and the effect of some factors on the network performance by using it for personal photo recognition. The network is built in two types: one dimensional, and twodimensional network. A... more
rue Bastien Lepage (davy.monticolo ; alex.gabriel ; pedro.chavez) @univ-lorraine.fr RÉSUMÉ. La gestion des connaissances est une opportunité d'amélioration des performances pour les organisations. Les connaissances sont dynamiques... more
The weightlifting of Olympic sports that this lifts require an impressive variety of styles and followed the teacher to student access to the best performance, The research aims to identify the impact of the program tutorial using... more
The weightlifting of Olympic sports that this lifts require an impressive variety of styles and followed the teacher to student access to the best performance, The research aims to identify the impact of the program tutorial using... more
The Study aimed at examining the Counselling needs of students of the Heliopolis University, and the differences in identifying the students' their Counselling needs, and the differences between students in the priorities of it according... more
يتناول قضية الأمن القومي اليمني من منظور تطبيقي واقعي يركز على مقومات الدولة اليمنية ويستعرض التحديات والتهديدات والمخاطر التي يتعرض لها الأمن القومي للدولة ويقترح سبل الحماية والتحصين.
The weightlifting of Olympic sports that this lifts require an impressive variety of styles and followed the teacher to student access to the best performance, The research aims to identify the impact of the program tutorial using... more
تعد المرأة نصف الثروة البشرية في المجتمع وخاصا في الوقت الحاضر حيث تظهر بوضوح حاجة البلد الى امكانياتها و خبراتها العملية كجزء مهم من القوى العاملة، الا ان رغم امتلاك المرأة المؤهلات العلمية و الكفاءة الجيدة الا انها لا تحظى بفرص عمل... more
This paper introduces the concept of consciousness in the debate on the role of identity in economics. After a brief review of the main issues emerged from this literature, it illustrates two neurobiological theories on the nature of... more
This paper examines the process by which agents learn to act in economic environments. Learning is particularly complicated in such situations since the environment is, at least in part, made up of other agents who are also learning. At... more
Le thème de l'information et de la connaissance est relativement récent en économie. Nous retraçons historiquement son émergence et nous présentons les théorisations proposées initialement. Non pas par souci de rappeler les éléments... more
This Chapter extends some economic models that take advantage of a formalism inspired from statistical mechanics to account for social influence in individual decisions. Starting with a framework suggested by Durlauf, Blume and Brock, we... more
Academic rentiership' is an economistic way of thinking about the familiar tendency for academic knowledge to consolidate into forms of expertise that exercise authority over the entire society. The feature that 'rentiership' highlights... more
Programma Programma del corso di Rischio, Incertezza e mercati finanziari (I semestre) Prof. ssa Enrica Carbone Contenuto del corso Il corso affronta le seguenti tematiche: La crisi finanziaria (su questo argomento gli studenti... more
Accroissement de la complexité des décisions dans un contexte de prolifération des règles Résumé Cet article décrit comment la prolifération des règles impacte la complexité en prise de décision. Bien que ce phénomène soit connu, peu de... more
This paper summarizes the effects of social influences in a monopoly market with heterogeneous agents. The market equilibria are presented in the limiting case of global influence. Considering static profit maximization there may exist... more
This Chapter extends some economic models that take advantage of a formalism inspired from statistical mechanics to account for social influence in individual decisions. Starting with a framework suggested by Durlauf, Blume and Brock, we... more
In this paper, we explore the effects of the introduction of localised externalities through interaction structures upon local and global properties of the simplest market model: the discrete choice model with a single homogeneous product... more
In this paper, we explore the effects of the introduction of localised externalities through interaction structures upon local and global properties of the simplest market model: the discrete choice model with a single homogeneous product... more
This Chapter extends some economic models that take advantage of a formalism inspired from statistical mechanics to account for social influence in individual decisions. Starting with a framework suggested by Durlauf, Blume and Brock, we... more
Le theme de l'information et de la connaissance est relativement recent en economie. Nous retracons historiquement son emergence et nous presentons les theorisations proposees initialement. Non pas par souci de rappeler les elements... more
The “paradox of happiness in economics” has aroused a growing interest among scholars all over the world. In opulent societies, many people, despite an increase in income, declare themselves less happy. One explanation is that economic... more
Gli architetti della scelta cercano di introdurre pratiche di buona cittadinanza, aiutano le persone a scegliere il meglio per sé e per la società, partendo dalla consapevolezza che l’umano è un essere prevedibilmente irrazionale. Il loro... more
النباك Nebak جمع نبكة وهى عبارة عن تجمعات من الرمال المتراكمة حول الحشائش والنباتات الصحراوية، وتتشكل النباك عندما تعترض حركة الرياح المحملة بالرمال عوائق نباتية على اختلاف أشكالها وأحجامها. ويطلق على النباك عدة مسميات مثل الكثبان الوليدة... more
Le thème de l'information et de la connaissance est relativement récent en économie. Nous retraçons historiquement son émergence et nous présentons les théorisations proposées initialement. Non pas par souci de rappeler les éléments... more
This paper compares seven explanations of the socalled 'happiness paradox', which states that self-reported well-being of people living in rich countries does not systematically increase, or it even decreases, during the most recent... more
The essay analyzes the decision process in economics and its relationship with the concept of rationality starting from the theory of rational choice, that is, a systemic approach based on the formal axiomatic method applied mainly in the... more
Cet article résume l'effet de l'influence sociale sur un marché de monopole avec des agents hétérogénes. Les équilibres du marché sont présentés dans le cas limite de l'influence globale. Considérant une maximisation statique du profit,... more
Al cuore della nostra vita -ha scritto Richard Layard (2005: 13) -c'è un paradosso. La maggior parte delle persone vuole guadagnare di più e si batte per raggiungere questo scopo. Tuttavia, mentre la ricchezza delle società occidentali ha... more
Academic rentiership' is an economistic way of thinking about the familiar tendency for academic knowledge to consolidate into forms of expertise that exercise authority over the entire society. The feature that 'rentiership' highlights... more
Le thème de l'information et de la connaissance est relativement récent en économie. Nous retraçons historiquement son émergence et nous présentons les théorisations proposées initialement. Non pas par souci de rappeler les éléments... more
Questo libro trae spunto dalle ripercussioni che le indagini sul decision making hanno avuto in sede di teoria politica, dando origine al recente dibattito sul paternalismo. Diversi studiosi, partendo dalla costatazione che le decisioni... more
Download research papers for free!