Coverage of Behavioral and Experimental Economics in Undergraduate Microeconomics Textbooks

32 Pages Posted: 29 Jan 2008

See all articles by Chiara Lombardini-Riipinen

Chiara Lombardini-Riipinen

University of Helsinki - Department of Political and Economic Studies

Minna Autio

University of Helsinki - Department of Political and Economic Studies

Date Written: December 2007

Abstract

This paper analyzes to what degree 25 undergraduate microeconomics textbooks incorporate contributions from behavioral economics and experimental economics.

We find that ten of the 25 textbooks examined make no reference at all to behavioral economics; six dedicate less than 1% of total pages to it, six between 1% and 2.6%, and three between 6% and 11%. When behavioral economics is discussed, the focus tends to be on bounded rationality rather than on bounded self-interest or bounded willpower. Experimental economics is not discussed at all in ten textbooks, twelve textbooks dedicate less than 0.6% of total pages to it, while three dedicate between 2% and 10% of total pages.

We discuss the possible causes of the detected variation in the coverage of behavioral economics drawing from a variety of qualitative materials.

Keywords: behavioral economics, economics education and teaching of economics, experimental economics, microeconomics, psychology, textbooks

JEL Classification: A22, B49, B59, D01

Suggested Citation

Lombardini-Riipinen, Chiara and Autio, Minna, Coverage of Behavioral and Experimental Economics in Undergraduate Microeconomics Textbooks (December 2007). Available at SSRN: https://ssrn.com/abstract=1088076 or http://dx.doi.org/10.2139/ssrn.1088076

Chiara Lombardini-Riipinen (Contact Author)

University of Helsinki - Department of Political and Economic Studies ( email )

P.O. Box 54
FIN-00014 Helsinki
Finland

Minna Autio

University of Helsinki - Department of Political and Economic Studies ( email )

P.O. Box 54
FIN-00014 Helsinki
Finland

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