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
Abstract
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
Leiser, David and Kril, Zeev, How Laypeople Understand Economics (July 1, 2015). Economic Psychology: The Science of Economic Mental Life and Behaviour. Rob Ranyard (Ed.) Wiley-Blackwell, 2016, Available at SSRN: https://ssrn.com/abstract=2677659
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