Cognitive Economics

15 Pages Posted: 11 May 2015

See all articles by Miles S. Kimball

Miles S. Kimball

University of Michigan at Ann Arbor - Department of Economics; University of Colorado Boulder; Center for Economic and Social Research, USC; National Bureau of Economic Research (NBER)

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Date Written: June 2015

Abstract

Cognitive economics is the economics of what is in people's minds. It is a vibrant area of research (much of it within behavioural economics, labour economics and the economics of education) that brings into play novel types of data, especially novel types of survey data. Such data highlight the importance of heterogeneity across individuals and highlight thorny issues for welfare economics. A key theme of cognitive economics is finite cognition (often misleadingly called “bounded rationality”), which poses theoretical challenges that call for versatile approaches. Cognitive economics brings a rich toolbox to the task of understanding a complex world.

Suggested Citation

Kimball, Miles S., Cognitive Economics (June 2015). Japanese Economic Review, Vol. 66, Issue 2, pp. 167-181, 2015. Available at SSRN: https://ssrn.com/abstract=2604338 or http://dx.doi.org/10.1111/jere.12070

Miles S. Kimball (Contact Author)

University of Michigan at Ann Arbor - Department of Economics ( email )

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National Bureau of Economic Research (NBER)

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