Jump to ContentJump to Main Navigation
Handbook of Experimental Economic Methodology$
Users without a subscription are not able to see the full content.

Guillaume R. Fréchette and Andrew Schotter

Print publication date: 2015

Print ISBN-13: 9780195328325

Published to Oxford Scholarship Online: March 2015

DOI: 10.1093/acprof:oso/9780195328325.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see http://www.oxfordscholarship.com/page/privacy-policy).date: 25 May 2018

The 1-800 Critique, Counterexamples, and the Future of Behavioral Economics

The 1-800 Critique, Counterexamples, and the Future of Behavioral Economics

Chapter:
(p.151) 9 The 1-800 Critique, Counterexamples, and the Future of Behavioral Economics
Source:
Handbook of Experimental Economic Methodology
Author(s):

Ido Erev

Ben Greiner

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195328325.003.0010

This chapter contrasts the different approaches taken by economists and psychologists. While economists create models aimed at parsimony and generalizability, psychologists tend to look more narrowly at data and generate their models to describe them. The problem with the latter approach is that it is not clear to what environments the data generated is exportable to. The implication here is that many psychology articles should have a 1-800 call center number attached to them to allow the reader to call and ask how the results would generalize to different contexts. The approach taken by behavioral economists is to look for counterexamples to rational parsimonious models and therefore use the rational models as a benchmark. This approach cannot be successful because the leading behavioral models are not clear about when they apply. Hence, unless behavioral models are general and not merely constructed to account for a specific counterexample, counterexamples are easily found to the counterexample, which brings us back to the starting point.

Keywords:   economists, psychologists, research, experimental economics, models, experimental data

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .