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A variety of complementarities and overlaps exist between the psychological strand of behavioral economics and the subjectivist strand of Virginia Political Economy. This paper provides an overview of those commonalities… Click to show full abstract
A variety of complementarities and overlaps exist between the psychological strand of behavioral economics and the subjectivist strand of Virginia Political Economy. This paper provides an overview of those commonalities and places them in a common information processing framework. The framework can account for systematic mistakes, framing effects, subjectivity, individual variety, and several issues in constitutional political economy. It also reveals many commonalities between these two quite different approaches to human behavior.
Journal Title: Public Choice
Year Published: 2019
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