Two Minds: Intuition and Analysis in the History of Economic ThoughtSpringer Science & Business Media, 2005 - 178 sidor As everyone knows, intuition is warm and fuzzy, qualitative, not measurable. Economics, on the other hand, is quantitative, and if it is not a hard science, at least it is the "queen of the social sciences." It is, therefore, intuitively obvious, that intuition and economics are as if oil and water. The problem is, what is intuitively obvious is not always correct. And, there are two major reasons why intuition and economics are not like oil and water. First, economics concerns itself with decision making, and decisions are made in the brain. The human brain is the size of a grapefruit, weighing three pounds with approximately 180 billion neurons, each physically independent but interacting with the other neurons. What we call intuition is, like decision making, a natural information processing function of the brain. Second, despite the current emphasis on quantitative analysis and deductive logic there is a rich history of economists speaking about intuition. First, the human brain, specifically the neocortex, has a left and right hemisphere. The specialized analytical style of the left hemisphere and the specialized intuitive style of the right hemispheres complement each other. |
Innehåll
Introduction | 1 |
Adam Smith New Intuitions for a New Age | 21 |
John Stuart Mill An AntiIntuitionist Social Reformer | 39 |
Alfred Marshall Metaphysician and Economist | 59 |
Intuition and Analysis in the Economics of the John Maynard Keynes | 77 |
Frank Knight Intuition Risk and Uncertainty | 95 |
Swimming Against the Stream Herbert Simon Harvey Leibenstein George Shackle Friedrich von Hayek | 113 |
Intuition in Current Economic Literature | 135 |
| 153 | |
| 173 | |
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Two Minds: Intuition and Analysis in the History of Economic Thought Roger Frantz Ingen förhandsgranskning - 2004 |
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A.C. Pigou ability Adam Smith Adam Smith problem Alfred Marshall analytical animal spirits assumptions believed brain ceteris paribus chess classical economics Colin Camerer common sense concept consciousness creates decisions economic theory economists emotions empiricism equilibrium example experience fact feelings Francis Hutcheson Frank Knight Friedman function future G.E. Moore George Loewenstein Hayek hence Herbert Simon heuristics human behavior Hutcheson ibid ideas imagination individual inference insight intellectual intuition and analysis intuitionism intuitionists intuitively obvious James John Stuart judgments Keynes says Knight says knowledge laws Leibenstein limits logic machine Mansel Marshall's mathematical Matthew Rabin means mental method Mill Mill's mind motives objects patterns perception person philosophy physical predictions priori psychology Rabin rational reason refers result right hemisphere Schumpeter scientific scientists self-interest Smith says social subconscious sympathy things thinking thought truth uncertainty unconscious understand utility wages wealth word intuition x-efficiency
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