The Contribution of Behavioral Economics to Political Science

Posted: 12 May 2011

See all articles by Rick K. Wilson

Rick K. Wilson

Rice University - Department of Political Science

Date Written: June 2011

Abstract

Behavioral economics has become an important part of the economics profession. As a subfield, it tries to make sense of persistent violations of the standard model for economics. The major classes of violations involve social preferences (taking the well-being of others into account), time discounting (inconsistencies in valuing present and future commodities), and context (the effects of framing). Other violations involve well-known psychological heuristics such as overconfidence, constraints on strategic reasoning, emotions, and status differentials. These concepts are discussed in separate sections, and key experimental and empirical studies are noted.

Suggested Citation

Wilson, Rick K., The Contribution of Behavioral Economics to Political Science (June 2011). Annual Review of Political Science, Vol. 14, pp. 201-223, 2011, Available at SSRN: https://ssrn.com/abstract=1839110 or http://dx.doi.org/10.1146/annurev-polisci-041309-114513

Rick K. Wilson (Contact Author)

Rice University - Department of Political Science ( email )

Houston, TX 77005-1892
United States

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