Adam Smith, Behavioral Economist

Adam Smith, Behavioral Economist

Adam Smith's psychological perspective in The Theory of Moral Sentiments is remarkably similar to “dual-process” frameworks advanced by psychologists, neuroscientists, and more recently by behavioral economists, based on behavioral data and detailed observations of brain functioning. It also an...

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Bibliographic Details
Published in:The Journal of economic perspectives Vol. 19; no. 3; pp. 131 - 145
Main Authors: Nava Ashraf, Camerer, Colin F., Loewenstein, George
Format: Journal Article
Language:English
Published: Nashville American Economic Association 01-07-2005
Subjects:
Altruism
Behavior
Behavioral decision theory
Behavioral economics
Brain research
Breach of contract
Cost control
Economic behaviour
Economic motivation
Economic policy
Economic systems
Economic theory
Fairness
History of economic thought
Moral sentiments
Morality
Passion
Philosophy
Pleasure
Preferences
Public choice
Self interest
Smith, Adam
Smith, Adam (1723-1790)
Studies
Sympathy
Symposium: The Moral Sentiments
Wealth
United Kingdom > UK
Online Access:Get full text
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Summary:Adam Smith's psychological perspective in The Theory of Moral Sentiments is remarkably similar to “dual-process” frameworks advanced by psychologists, neuroscientists, and more recently by behavioral economists, based on behavioral data and detailed observations of brain functioning. It also anticipates a wide range of insights regarding phenomena such as loss aversion, willpower, and fairness that have been the focus of modern behavioral economics. This essay draws attention to some of these connections.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0895-3309
1944-7965
DOI:10.1257/089533005774357897