302
Views
4
CrossRef citations to date
0
Altmetric
Articles

The model (also) in the world: extending the sociological theory of fields to economic models

&

References

  • Adams, P., Guttman-Kenney, B., Hayes, L., Hunt, S., Laibson, D., & Stewart, N. (2018). The semblance of success in nudging consumers to pay down credit card debt, FCA Occasional Paper No.45. Retrieved from https://www.fca.org.uk/publications/occasional-papers/occasional-paper-no-45-semblance-success-nudging-consumers-pay-down-credit-card-debt
  • Ainslie, G. (1975). Specious reward: A behavioral theory of impulsiveness and impulse control. Psychological Bulletin, 82(4), 463–496.
  • Ainslie, G. (1992). Picoeconomics: The strategic interaction of successive motivational states within the person. Cambridge: Cambridge University Press.
  • Ainslie, G. (2012). Pure hyperbolic discount curves predict “eyes open” self-control. Theory and Decision, 73(1), 3–34.
  • Alonso, R., Brocas, I., & Carrillo, J. D. (2014). Resource allocation in the brain. The Review of Economic Studies, 81(2), 501–534.
  • Alós-ferrer, C., & Strack, F. (2014). From dual processes to multiple selves: Implications for economic behavior. Journal of Economic Psychology, 41(April), 1–11.
  • Andersen, S., Harrison, G. W., Lau, M. I., & Rutström, E. E. (2008). Eliciting risk and time preferences. Econometrica, 76(3), 583–618.
  • Angner, E., & Loewenstein, G. (2012). Behavioral economics. In U. Mäki (Ed.), Handbook of the philosophy of science, Vol.5: Philosophy of economics (pp. 641–690). Oxford: Elsevier.
  • Ashraf, N., Camerer, C. F., & Loewenstein, G. (2005). Adam Smith, behavioral economist. Journal of Economic Perspectives, 19(3), 131–145.
  • Austin, J. L. (1975). How to do things with words. Cambridge, MA: Harvard University Press.
  • Benhabib, J., & Bisin, A. (2005). Modeling internal commitment mechanisms and self-control: A neuroeconomics approach to consumption-saving decisions. Games and Economic Behavior, 52(2), 460–492.
  • Bernheim, D. B. (2009). On the potential of neuroeconomics: A critical (but hopeful) appraisal. American Economic Journal: Microeconomics, 1(2), 1–41.
  • Bernheim, D. B., & Rangel, A. (2004). Addiction and cue-triggered decision processes. American Economic Review, 94(5), 1558–1590.
  • Bernheim, D. B., & Rangel, A. (2007). Toward choice-theoretic foundations for behavioral welfare economics. American Economic Review, 97(2), 464–470.
  • Bernheim, D. B., & Rangel, A. (2008). Choice-theoretic foundations for behavioral welfare economics. In A. Caplin & A. Schotter (Eds.), The foundations of positive and normative economics: A handbook (pp. 155–192). New York, NY: Oxford University Press.
  • Bernheim, D. B., & Rangel, A. (2009). Beyond revealed preference: Choice-theoretic foundations for behavioral welfare economics. Quarterly Journal of Economics, 124(1), 51–104.
  • Bernheim, D. B., & Taubinsky, D. (2018). Behavioral public economics. In B. Douglas Bernheim, S. DellaVigna, & D. Laibson (Eds.), Handbook of behavioral economics, Volume 1 (pp. 381–501). New York, NY: Elsevier.
  • Bernstein, P. L. (2005). Capital ideas. The improbable origins of modern wall street. Hoboken, NJ: Wiley.
  • Black, F., & Scholes, M. (1973). The pricing of options and corporate liabilities. Journal of Political Economy, 81(3), 637–654.
  • Boumans, M. (2005). How economists model the world into numbers. London: Routledge.
  • Bourdieu, P. (1977). Outline of a theory of practice. Cambridge: Cambridge University Press.
  • Bourdieu, P. (1991). Language and symbolic power. Cambridge: Polity Press.
  • Bourdieu, P. (1994). Raisons pratiques. Sur la théorie de l’action. Paris: Seuil.
  • Brisset, N. (2018). Models as speech acts: The telling case of financial models. Journal of Economic Methodology, 25(1), 21–41.
  • Brisset, N. (2019). Economics and performativity: Exploring limits, theories and cases. London: Routledge.
  • Brocas, I. (2012). Information processing and decision-making: Evidence from the brain sciences and implications for economics. Journal of Economic Behavior & Organization, 83(3), 292–310.
  • Brocas, I., & Carrillo, J. D. (2008a). The brain as a hierarchical organization. American Economic Review, 98(4), 1312–1346.
  • Brocas, I., & Carrillo, J. D. (2008b). Theories of the mind. American Economic Review, 98(2), 175–180.
  • Brocas, I., & Carrillo, J. D. (2014). Dual-process theories of decision-making: A selective survey. Journal of Economic Psychology, 41(April), 45–54.
  • Camerer, C. F. (2006). Behavioral economics. In R. Blundell, W. Newey, & T. Persson (Eds.), World congress of the econometric society (pp. 181–214). London: Cambridge University Press.
  • Camerer, C. F. (2008). The case for Mindful economics. In A. Caplin & A. Schotter (Eds.), The foundations of positive and normative economics (pp. 43–69). New York, NY: Oxford University Press.
  • Camerer, C. F., & Loewenstein, G. (2004). Behavioral economics: Past, present, future. In C. F. Camerer, G. F. Loewenstein, & M. Rabin (Eds.), Advances in behavioral economics (pp. 3–51). Princeton, NJ: Princeton University Press.
  • Camerer, C. F., Loewenstein, G., & Prelec, D. (2005). Neuroeconomics: How neuroscience can inform economics. Journal of Economic Literature, 43(1), 9–64.
  • Camerer, C. F., Loewenstein, G. F., & Rabin, M. (2004). Advances in behavioral economics. Princeton, NJ: Princeton University Press.
  • Dolan, P., Hallsworth, M., Halpern, D., King, D., & Vlaev, I. (2010). MINDSPACE: Influencing behaviour for public policy, Institute for Goverment. Retrieved from http://eprints.lse.ac.uk/35792/
  • Dold, M. F., & Schubert, C. (2018). Toward A behavioral foundation of normative economics. Review of Behavioral Economics, 5(3-4), 221–241.
  • Dreber, A., Fudenberg, D., Levine, D. K., & Rand, D. G. (2016). Self-control, social preferences and the effect of delayed payments (Working Paper). Retrieved from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2477454
  • Driscoll, J. C., & Holden, S. (2014). Behavioral economics and macroeconomic models. Journal of Macroeconomics, 41, 133–147.
  • Düppe, T., & Maas, H. (2017). The historical epistemology of economics: An invitation. Research in the History of Economic Thought and Methodology, 35, 3–9.
  • Erta, K., Hunt, S., Iscenko, Z., & Brambley, W. (2013). Applying behavioural economics at the financial conduct authority, FCA Occasional PaperNo.1. Retrieved from oro.open.ac.uk/42192/.
  • Evans, J. S. B., & Stanovich, K. E. (2013). Dual-process theories of higher cognition. Perspectives on Psychological Science, 8(3), 223–241.
  • Fama, E. (1965). Random walks in stock market prices. Financial Analysts Journal, 21(5), 55–59.
  • Fehr, E., & Schmidt, K. M. (2006). The economics of fairness, reciprocity and altruism Experimental evidence and new theories. In S.-C. Kolm & J.-M. Ythier (Eds.), Handbook of the economics of giving, altruism and reciprocity: Foundations (Vol. 1, pp. 615–691). Amsterdam: Elsevier.
  • Frederick, S., Loewenstein, G., & O’Donoghue, T. (2002). Time discounting and time preference: A critical review. Journal of Economic Literature, 40(2), 351–401.
  • Frigg, R., & Hartmann, S. (2012). Models in science. Standford Encyclopedia, Standforf, CA: Stanford University Press. Retrieved from http://Plato.Stanford.Edu/Archives/Fall2012/Entries/Models-Science
  • Fudenberg, D. (2006). Advancing beyond advances in behavioral economics. Journal of Economic Literature, 44(September), 694–711.
  • Fudenberg, D., & Levine, D. K. (2006). A dual-self model of impulse control. American Economic Review, 96(5), 1449–1476.
  • Fudenberg, D., & Levine, D. K. (2011). Risk, delay, and convex self-control costs. American Economic Journal: Microeconomics, 3(3), 34–68.
  • Fudenberg, D., & Levine, D. K. (2012). Timing and self-control. Econometrica, 80(1), 1–42.
  • Fudenberg, D., Levine, D. K., & Maniadis, Z. (2014). An approximate dual-self model and Paradoxes of choice under risk. Journal of Economic Psychology, 41(April), 55–67.
  • Geiger, N. (2016). Behavioural economics and economic policy: A comparative study of recent trends. Oeconomia, 6(1), 81–113.
  • Grayot, J. (2019). From selves to systems: On the intrapersonal and intraneural dynamics of decision making. Journal of Economic Methodology, 26(3), 208–227.
  • Green, M. (2014). Speech acts. Stanford Encyclopedia of Philosophy. Retrieved from http://plato.stanford.edu/entries/speech-acts/
  • Grüne-Yanoff, T. (2015). Models of temporal discounting 1937–2000: An interdisciplinary exchange between economics and psychology. Science in Context, 28(4), 675–713.
  • Hédoin, C. (2012). Models in economics are not (always) nomological machines: A pragmatic approach to economists’ modeling practices. Philosophy of the Social Sciences, 20(10), 424–459.
  • Heukelom, F. (2014). Behavioral economics: A history. New York, NY: Cambridge University Press.
  • Jovanovic, F. (2002). Le modèle de marché aléatoire dans la théorie financière quantitative: fondements historiques, théoriques et épistémologiques. Paris: Université de Paris 1.
  • Jovanovic, F. (2009). Le modèle de marche aléatoire dans l’économie financière de 1863 à 1976. Revue d’Histoire Des Sciences Humaines, 20(1), 51–78.
  • Kahneman, D. (2011). Thinking, fast and slow. New York, NY: Farrar, Straus and Giroux.
  • Krusell, P., & SmithJrA. A. (2003). Consumption–savings decisions with quasi–geometric discounting. Econometrica, 71(1), 365–375.
  • Laibson, D. (1994). Hyperbolic discounting and consumption (Ph.D. dissertation). MIT, Cambridge, MA.
  • Laibson, D. (1997). Golden eggs and hyperbolic discounting. The Quarterly Journal of Economics, 112(2), 443–478.
  • Lallement, J. (1984). Histoire de la pensée ou archéologie du savoir. Œconomia, Série Économie et Société, 18(10), 61–93.
  • Levine, D. K. (2012). Is behavioral economics doomed?: The ordinary versus the extraordinary. Cambridge: Open Book. Retrieved from http://www.openbookpublishers.com/product/77
  • Lipman, B. L., & Pesendorfer, W. (2013). Temptation. In Advances in economics and econometrics: Tenth world congress, volume 1 (pp. 243–288). New York, NY: Cambridge University Press.
  • Loewenstein, G., & Chater, N. (2017). Putting nudges in perspective. Behavioural Public Policy, 1(1), 26–53.
  • Loewenstein, G., & O’Donoghue, T. (2004). Animal spirits: Affective and deliberative processes in economic behavior (Working Paper). Retrieved from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=539843
  • Loewenstein, G., & O’Donoghue, T. (2007). The heat of the moment: Modeling interactions between affect and deliberation (Working Paper). Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.335.5703&rep=rep1&type=pdf
  • Loewenstein, G., O’Donoghue, T., & Bhatia, S. (2015). Modeling the interplay between affect and deliberation. Decision, 2(2), 55–81.
  • Loewenstein, G., Rick, S., & Cohen, J. D. (2008). Neuroeconomics. Annual Review of Psychology, 59, 647–672.
  • MacKenzie, D. (2003). An equation and its worlds: Bricolage, exemplars, disunity and performativity in financial economics. Social Studies of Science, 33, 831–868.
  • MacKenzie, D. (2006). An Engine, Not a Camera. Cambridge et Londres: The MIT Press.
  • MacKenzie, D., & Millo, Y. (2003). Constructing a market, performing theory: The historical sociology of a financial derivatives exchange. American Journal of Sociology, 109, 107–145.
  • Markowitz, H. M. (1952). Portfolio selection. Journal of Finance, 7, 77–91.
  • McQuillin, B., & Sugden, R. (2012). Reconciling normative and behavioural economics: The problems to be solved. Social Choice and Welfare, 38(4), 553–567.
  • Mehrling, P. (2012). Fischer black and the revolutionary idea in Finance. Hoboken, NJ: Wiley.
  • Merton, R. C. (1973). Theory of rational option pricing. The Bell Journal of Economics and Management Science, 4(1), 141–183.
  • Morgan, M. S. (2012). The world in the model: How economists work and think. New York, NY: Cambridge University Press.
  • Morgan, M. S., & Knuuttila, T. (2012). Models and modelling in economics. In M. Uskali (Ed.), Philosophy of economics. Handbook of the philosophy of science (Vol. 13, pp. 49–87). Amsterdam: Elsevier.
  • Pesendorfer, W. (2006). Behavioral economics comes of age: A review essay on Advances in behavioral economics. Journal of Economic Literature, 44(September), 712–721.
  • Poitras, G. (2009). From Antwerp to Chicago: The history of exchange traded derivative security contracts. Revue D’Histoire Des Sciences Humaines, 20(1), 11–50.
  • Preda, A. (2007). Where do analysts come from? The case of financial Chartism. The Sociological Review, 55(s2), 40–64.
  • Ross, D. (2010). Economic models of procrastination. In C. Andreou & M. D. White (Eds.), The Thief of time: Philosophical essays on procrastination (pp. 28–50). New York, NY: Oxford University Press.
  • Ross, D. (2016). Philosophy of economics. Basingstoke: Springer.
  • Ross, D., Ainslie, G., & Hofmeyr, A. (2010). Self-control, discounting and rewards: Why picoeconomics is economics (Working Paper).
  • Samuelson, P. (1965). Proof that properly anticipated prices fluctuate randomly. Industrial Management Review, 6, 41–49.
  • Sent, E.-M. (2004). Behavioral economics: How psychology made its (limited) way back into economics. History of Political Economy, 36(4), 735–760.
  • Sharpe, W. (1964). Capital asset prices: A theory of market equilibrium under conditions of risk. Journal of Finance, 19(3), 425–442.
  • Soames, S. (2010). Philosophy of language. Princeton, NJ: Princeton University Press.
  • Stapleford, T. (2017). Historical epistemology and the history of economics: Views through the lens of practice. Research in the History of Economic Thought and Methodology, 35, 113–145.
  • Starmer, C. (2000). Developments in non-expected utility theory: The hunt for a descriptive theory of choice under risk. Journal of Economic Literature, XXXVIII(2), 332–382.
  • Strassheim, H., & Beck, S. (2019). Introduction to the handbook of behavioural change and public policy. In H. Strassheim & S. Beck (Eds.), Handbook of behavioural change and public policy (pp. 1–20). Cheltenham: Edward Elgar.
  • Suárez, M. (2004). An inferential conception of scientific representation. Philosophy of Science, 71(5), 767–779.
  • Sunstein, C. R., Reisch, L. A., & Rauber, J. (2018). A worldwide consensus on nudging? Not quite, but almost. Regulation & Governance, 12, 3–22.
  • Sunstein, C. R., & Thaler, R. H. (2008). Nudge: Improving decisions about health, wealth, and happiness. New Haven, CT: Yale University Press.
  • Szaszi, B., Palinkas, A., Palfi, B., Szollosi, A., & Aczel, B. (2018). A systematic scoping review of the choice architecture movement: Toward understanding when and why nudges work. Journal of Behavioral Decision Making, 31, 355–366.
  • van Bravel, R., & Dessart, F. J. (2018). The case for qualitative methods in behavioural studies for EU policy-making, J RD Science for Policy Report, European Commission. Retrieved from https://ec.europa.eu/jrc/en/publication/eur-scientific-and-technical-research-reports/case-qualitative-methods-behavioural-studies-eu-policy-making
  • Walter, C. (1996). Une histoire du concept d’efficience sur les marchés financiers. Annales. Histoire, Sciences Sociales, 51(4), 873–905.
  • Walter, C. (1999). Aux origines de la mesure de performance des fonds d’investissement (Les travaux d’Alfred Cowles). Histoire et Mesure, 14(1–2), 163–197.
  • World Bank. (2014). World development report 2015: Mind, society and behavior. Washington, DC: The World Bank Group.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.