How Laypeople Understand Economics
Economic Psychology: The Science of Economic Mental Life and Behaviour. Rob Ranyard (Ed.) Wiley-Blackwell, 2016
24 Pages Posted: 24 Oct 2015 Last revised: 10 May 2018
Date Written: July 1, 2015
This chapter presents various known limitations in lay understanding in general, and documents how lay people (mis)understand economics. Economic and Political consequences are discussed.
A much expanded book-length treatment is published (May 2018) under the title "How we misunderstand economics and why it matters."
Note: This is a DRAFT version - a final version is being prepared.
Keywords: lay theories; understanding of economics
Suggested Citation: Suggested Citation