Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior

This paper is an attempt to broaden economic discourse by importing insights into human behavior not just from psychology, but also from sociology and anthropology. Whereas the concept of the decision-maker in standard economics is the rational act...

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Main Authors:	Hoff, Karla, Stiglitz, Joseph E.
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	BELIEF SYSTEMS FISH MASS MEDIA ECONOMIC INCENTIVES MOTIVATION BEHAVIORAL DEVELOPMENT DRAMA PERSONALITY WELFARE ECONOMICS MULTIPLIERS UTILITY FUNCTIONS AGGRESSION LANGUAGES TIME SOCIAL INTERACTIONS CARBON PSYCHOLOGY HUMANITIES ROLE EXPECTATIONS BIAS GROUPS PROPERTY RIGHTS INTELLIGENCE FINANCIAL RESOURCES EMISSIONS WELFARE FUNCTION INCENTIVES PSYCHOLOGISTS CONDITIONS MODELS THINKING ASSOCIATIONS POSITIVE ECONOMICS SOCIAL SCIENCES LANGUAGE CULTURE TROPICAL ISLAND TELEVISION PRESS ECONOMIC ACTIVITY BEHAVIOR THOUGHT EXPLOITATION BEHAVIORAL SCIENCES DECISION‐MAKING RITUALS PERCEPTIONS OPERA RELATIONSHIPS ABILITY EXTERNALITIES DEMAND CURVES DEBT ESSAYS SOCIAL STRUCTURES LEARNING PSYCHOLOGIST ECONOMIC POLICIES CULTURAL CONTEXT HISTORY REASONING INFORMATION PROCESSING CULTURAL RESEARCH RATIONAL EXPECTATIONS SOCIAL PSYCHOLOGY RADIO COGNITION CARBON EMISSIONS PUBLISHING RESOURCES INDIVIDUAL BEHAVIOR UNEMPLOYMENT ANTHROPOLOGY BELIEFS PSYCHOLOGICAL TESTS CONSUMPTION TECHNOLOGICAL CHANGE SPORTS WAGES CLIMATE CHANGE SCIENCE ECONOMIC BEHAVIOR HABITS MEDIA INFLUENCES VALUES SCHOOLS BASIC GENDER CREDIT DIVISION OF LABOR ENVIRONMENTS LITERATURE EFFORT PROPERTY SOCIAL COGNITION ETHNOGRAPHY HUMAN BEHAVIOR COGNITIVE ABILITY ENVIRONMENT ECOLOGICAL CONDITIONS COGNITIVE PSYCHOLOGY MASCULINITY ECONOMIC MODELS COGNITIVE PROCESSES FEELINGS SOCIAL CAPITAL TRADE CULTURES PERCEPTION ENCULTURATION UNDERSTANDING CHILDREN INVOLUNTARY UNEMPLOYMENT CONSUMPTION PATTERNS TRUSTS ECOLOGY EXPERIENCE ATTENTION ACTIVITY INTERACTIONS INDIVIDUALS BUILDING INVESTMENTS COIN TRADITIONS DEPENDENCE WOMEN CONCEPTS MEMORY CULTURAL FACTORS PRIMING PRICES PUBLIC GOODS
Online Access:	http://documents.worldbank.org/curated/en/2016/01/25814159/striving-balance-economics-towards-theory-social-determination-behavior http://hdl.handle.net/10986/23704

id	okr-10986-23704
recordtype	oai_dc
spelling	okr-10986-237042021-04-23T14:04:16Z Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior Hoff, Karla Stiglitz, Joseph E. BELIEF SYSTEMS FISH MASS MEDIA ECONOMIC INCENTIVES MOTIVATION BEHAVIORAL DEVELOPMENT DRAMA PERSONALITY WELFARE ECONOMICS MULTIPLIERS UTILITY FUNCTIONS AGGRESSION LANGUAGES TIME SOCIAL INTERACTIONS CARBON PSYCHOLOGY HUMANITIES ROLE EXPECTATIONS BIAS GROUPS PROPERTY RIGHTS INTELLIGENCE FINANCIAL RESOURCES EMISSIONS WELFARE FUNCTION INCENTIVES PSYCHOLOGISTS CONDITIONS MODELS THINKING ASSOCIATIONS POSITIVE ECONOMICS SOCIAL SCIENCES LANGUAGE CULTURE TROPICAL ISLAND TELEVISION PRESS ECONOMIC ACTIVITY BEHAVIOR THOUGHT EXPLOITATION BEHAVIORAL SCIENCES DECISION‐MAKING RITUALS PERCEPTIONS OPERA RELATIONSHIPS ABILITY EXTERNALITIES DEMAND CURVES DEBT ESSAYS SOCIAL STRUCTURES LEARNING PSYCHOLOGIST ECONOMIC POLICIES CULTURAL CONTEXT HISTORY REASONING INFORMATION PROCESSING CULTURAL RESEARCH RATIONAL EXPECTATIONS SOCIAL PSYCHOLOGY RADIO COGNITION CARBON EMISSIONS PUBLISHING RESOURCES INDIVIDUAL BEHAVIOR UNEMPLOYMENT ANTHROPOLOGY BELIEFS PSYCHOLOGICAL TESTS CONSUMPTION TECHNOLOGICAL CHANGE SPORTS WAGES CLIMATE CHANGE SCIENCE ECONOMIC BEHAVIOR HABITS MEDIA INFLUENCES VALUES SCHOOLS BASIC GENDER CREDIT DIVISION OF LABOR ENVIRONMENTS LITERATURE EFFORT PROPERTY SOCIAL COGNITION ETHNOGRAPHY HUMAN BEHAVIOR COGNITIVE ABILITY ENVIRONMENT ECOLOGICAL CONDITIONS COGNITIVE PSYCHOLOGY MASCULINITY ECONOMIC MODELS COGNITIVE PROCESSES FEELINGS SOCIAL CAPITAL TRADE CULTURES PERCEPTION ENCULTURATION UNDERSTANDING CHILDREN INVOLUNTARY UNEMPLOYMENT CONSUMPTION PATTERNS TRUSTS ECOLOGY EXPERIENCE ATTENTION ACTIVITY INTERACTIONS INDIVIDUALS BUILDING INVESTMENTS COIN TRADITIONS DEPENDENCE WOMEN CONCEPTS MEMORY CULTURAL FACTORS PRIMING PRICES PUBLIC GOODS This paper is an attempt to broaden economic discourse by importing insights into human behavior not just from psychology, but also from sociology and anthropology. Whereas the concept of the decision-maker in standard economics is the rational actor and, in early work in behavioral economics, the quasi-rational actor influenced by the context of the moment of decision-making, in some recent work in behavioral economics the decision-maker could be called the enculturated actor. This actor's preferences, perception, and cognition are subject to two deep social influences: (a) the social contexts to which he has become exposed and, especially, accustomed; and (b) the cultural mental models—including categories, identities, narratives, and worldviews—that he uses to process information. The paper traces how these factors shape individual behavior through the endogenous determination of preferences and the lenses through which individuals see the world—their perception and interpretation of situations. The paper offers a tentative taxonomy of the social determinants of behavior and describes the results of controlled and natural experiments that only a broader view of these determinants can plausibly explain. The perspective suggests more realistic models of human behavior for explaining outcomes and designing policies. 2016-02-01T20:42:22Z 2016-02-01T20:42:22Z 2016-01 Working Paper http://documents.worldbank.org/curated/en/2016/01/25814159/striving-balance-economics-towards-theory-social-determination-behavior http://hdl.handle.net/10986/23704 English en_US Policy Research Working Paper;No. 7537 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	BELIEF SYSTEMS FISH MASS MEDIA ECONOMIC INCENTIVES MOTIVATION BEHAVIORAL DEVELOPMENT DRAMA PERSONALITY WELFARE ECONOMICS MULTIPLIERS UTILITY FUNCTIONS AGGRESSION LANGUAGES TIME SOCIAL INTERACTIONS CARBON PSYCHOLOGY HUMANITIES ROLE EXPECTATIONS BIAS GROUPS PROPERTY RIGHTS INTELLIGENCE FINANCIAL RESOURCES EMISSIONS WELFARE FUNCTION INCENTIVES PSYCHOLOGISTS CONDITIONS MODELS THINKING ASSOCIATIONS POSITIVE ECONOMICS SOCIAL SCIENCES LANGUAGE CULTURE TROPICAL ISLAND TELEVISION PRESS ECONOMIC ACTIVITY BEHAVIOR THOUGHT EXPLOITATION BEHAVIORAL SCIENCES DECISION‐MAKING RITUALS PERCEPTIONS OPERA RELATIONSHIPS ABILITY EXTERNALITIES DEMAND CURVES DEBT ESSAYS SOCIAL STRUCTURES LEARNING PSYCHOLOGIST ECONOMIC POLICIES CULTURAL CONTEXT HISTORY REASONING INFORMATION PROCESSING CULTURAL RESEARCH RATIONAL EXPECTATIONS SOCIAL PSYCHOLOGY RADIO COGNITION CARBON EMISSIONS PUBLISHING RESOURCES INDIVIDUAL BEHAVIOR UNEMPLOYMENT ANTHROPOLOGY BELIEFS PSYCHOLOGICAL TESTS CONSUMPTION TECHNOLOGICAL CHANGE SPORTS WAGES CLIMATE CHANGE SCIENCE ECONOMIC BEHAVIOR HABITS MEDIA INFLUENCES VALUES SCHOOLS BASIC GENDER CREDIT DIVISION OF LABOR ENVIRONMENTS LITERATURE EFFORT PROPERTY SOCIAL COGNITION ETHNOGRAPHY HUMAN BEHAVIOR COGNITIVE ABILITY ENVIRONMENT ECOLOGICAL CONDITIONS COGNITIVE PSYCHOLOGY MASCULINITY ECONOMIC MODELS COGNITIVE PROCESSES FEELINGS SOCIAL CAPITAL TRADE CULTURES PERCEPTION ENCULTURATION UNDERSTANDING CHILDREN INVOLUNTARY UNEMPLOYMENT CONSUMPTION PATTERNS TRUSTS ECOLOGY EXPERIENCE ATTENTION ACTIVITY INTERACTIONS INDIVIDUALS BUILDING INVESTMENTS COIN TRADITIONS DEPENDENCE WOMEN CONCEPTS MEMORY CULTURAL FACTORS PRIMING PRICES PUBLIC GOODS
spellingShingle	BELIEF SYSTEMS FISH MASS MEDIA ECONOMIC INCENTIVES MOTIVATION BEHAVIORAL DEVELOPMENT DRAMA PERSONALITY WELFARE ECONOMICS MULTIPLIERS UTILITY FUNCTIONS AGGRESSION LANGUAGES TIME SOCIAL INTERACTIONS CARBON PSYCHOLOGY HUMANITIES ROLE EXPECTATIONS BIAS GROUPS PROPERTY RIGHTS INTELLIGENCE FINANCIAL RESOURCES EMISSIONS WELFARE FUNCTION INCENTIVES PSYCHOLOGISTS CONDITIONS MODELS THINKING ASSOCIATIONS POSITIVE ECONOMICS SOCIAL SCIENCES LANGUAGE CULTURE TROPICAL ISLAND TELEVISION PRESS ECONOMIC ACTIVITY BEHAVIOR THOUGHT EXPLOITATION BEHAVIORAL SCIENCES DECISION‐MAKING RITUALS PERCEPTIONS OPERA RELATIONSHIPS ABILITY EXTERNALITIES DEMAND CURVES DEBT ESSAYS SOCIAL STRUCTURES LEARNING PSYCHOLOGIST ECONOMIC POLICIES CULTURAL CONTEXT HISTORY REASONING INFORMATION PROCESSING CULTURAL RESEARCH RATIONAL EXPECTATIONS SOCIAL PSYCHOLOGY RADIO COGNITION CARBON EMISSIONS PUBLISHING RESOURCES INDIVIDUAL BEHAVIOR UNEMPLOYMENT ANTHROPOLOGY BELIEFS PSYCHOLOGICAL TESTS CONSUMPTION TECHNOLOGICAL CHANGE SPORTS WAGES CLIMATE CHANGE SCIENCE ECONOMIC BEHAVIOR HABITS MEDIA INFLUENCES VALUES SCHOOLS BASIC GENDER CREDIT DIVISION OF LABOR ENVIRONMENTS LITERATURE EFFORT PROPERTY SOCIAL COGNITION ETHNOGRAPHY HUMAN BEHAVIOR COGNITIVE ABILITY ENVIRONMENT ECOLOGICAL CONDITIONS COGNITIVE PSYCHOLOGY MASCULINITY ECONOMIC MODELS COGNITIVE PROCESSES FEELINGS SOCIAL CAPITAL TRADE CULTURES PERCEPTION ENCULTURATION UNDERSTANDING CHILDREN INVOLUNTARY UNEMPLOYMENT CONSUMPTION PATTERNS TRUSTS ECOLOGY EXPERIENCE ATTENTION ACTIVITY INTERACTIONS INDIVIDUALS BUILDING INVESTMENTS COIN TRADITIONS DEPENDENCE WOMEN CONCEPTS MEMORY CULTURAL FACTORS PRIMING PRICES PUBLIC GOODS Hoff, Karla Stiglitz, Joseph E. Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior
relation	Policy Research Working Paper;No. 7537
description	This paper is an attempt to broaden economic discourse by importing insights into human behavior not just from psychology, but also from sociology and anthropology. Whereas the concept of the decision-maker in standard economics is the rational actor and, in early work in behavioral economics, the quasi-rational actor influenced by the context of the moment of decision-making, in some recent work in behavioral economics the decision-maker could be called the enculturated actor. This actor's preferences, perception, and cognition are subject to two deep social influences: (a) the social contexts to which he has become exposed and, especially, accustomed; and (b) the cultural mental models—including categories, identities, narratives, and worldviews—that he uses to process information. The paper traces how these factors shape individual behavior through the endogenous determination of preferences and the lenses through which individuals see the world—their perception and interpretation of situations. The paper offers a tentative taxonomy of the social determinants of behavior and describes the results of controlled and natural experiments that only a broader view of these determinants can plausibly explain. The perspective suggests more realistic models of human behavior for explaining outcomes and designing policies.
format	Working Paper
author	Hoff, Karla Stiglitz, Joseph E.
author_facet	Hoff, Karla Stiglitz, Joseph E.
author_sort	Hoff, Karla
title	Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior
title_short	Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior
title_full	Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior
title_fullStr	Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior
title_full_unstemmed	Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior
title_sort	striving for balance in economics : towards a theory of the social determination of behavior
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/01/25814159/striving-balance-economics-towards-theory-social-determination-behavior http://hdl.handle.net/10986/23704
_version_	1764454584829345792

Striving for Balance in Economics : Towards a Theory of the Social Determination of Behavior

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