What is the role of psychological considerations in economics?

  • David Tuckett
  • Inske Pirschel
  • Gert Pönitzsch
  • Cars Hommes
April 5, 2013

What is the role of psychological considerations in economics?

Many of our global problems – from climate change to financial crises – arise from people’s failure to cooperate adequately to achieve socially desirable outcomes. There is a widespread recognition that we need a deeper understanding of human nature in order to discern new opportunities for human cooperation. The Kiel Institute and the Max Planck Institute in Leipzig are developing an interdisciplinary program with INET to examine new avenues of how psychological and neuroscientific knowledge about human motivation, emotion and social cognition can inform models of economic decision making. How can a profounder understanding of human motivation and preferences lead to a broader appreciation of our prospects for pro-social and sustainable economic behaviors?

The event was called “The Changing of the Guard?” because it focused on the most pressing global questions of our time, such as economic inequality and financial instability, all set against the backdrop of Asia’s rising importance in the world. CIGI is a co-sponsor of this event.
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