Cognitive economics
I have hinted here that what is often called behavioural economics would be more fruitfully examined in conjunction with cognitive economics , the study of thoughts, beliefs and decisions, and their economic effects. Recently at Inon we've been developing a model for cognitive economics. It integrates the preference -based approach of conventional economics and a model of beliefs or awareness which we call the attention function . This model promises to offer explanations for a number of cognitive and behavioural phenomena which don't fit into the neoclassical model, and should also be abstract enough to be generalised to higher level economic structures. Today I've found someone else who agrees with the cognitive/behavioural distinction: Marco Novarese . The link is a page about developments in cognitive economics (mostly in the last ten years). This paper is a good outline of some of the issues in the field - though the paper itself proposes no cognitive theory that ...