A Framework for Cognitive Economics
This is the first book-length work to integrate the insights of cognitive science fully into economics. It reviews a wide range of related work in both fields and proposes new approaches to choice theory, rationality, and interaction ( equilibrium ) that are consistent with the limited cognitive capacity of real human beings. While joining with neoclassical economics...
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This is the first book-length work to integrate the insights of cognitive science fully into economics. It reviews a wide range of related work in both fields and proposes new approaches to choice theory, rationality, and interaction ( equilibrium ) that are consistent with the limited cognitive capacity of real human beings. While joining with neoclassical economics in supporting the validity of supply-and-demand theory where it is literally applicable, McCain challenges most neoclassical equilibrium theory and welfare economics. His work aims to further and unite recent notions of behavioral and social economics.
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