Summary: Begrippen Lectures Cep
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1 Week 1: Introduction
This is a preview. There are 7 more flashcards available for chapter 1
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What is the science of economic mental life and behavior and what does it contribute to?
Economic psychology; it provides economics with a realistic and insightful understanding of human rationality in the domain -
What is a Homo Economicus (Stuart Mill)?
A rational individual who makes rational decisions thatmaximize utility, isself-interested , capable of learning from experience and with stable consisted preferences -
What is the examination or observation of one's own mental and emotional process (Menger)?
Introspection -
Who was a pioneer in social psychology, and what were his methods?
Tarde; he used imitation, repetition and innovation to analyze social and economic behavior -
Who was a pioneer in economic psychology, and what were his methods?
Katona; he used large surveys (he was one of the first to use that) of attitudes, beliefs and expectations regarding economic behavior -
What index assesses people's economic expectations?
The index of consumer sentiment (ICS) -
How do you call choices that have consequences in multiple time periods (Koopmans)?
Intertemporal choices -
What is understood with behavioral economics?
It is a branch ofeconomics that uses psychologicalconcepts andtheories to better understand economic behavior -
What kind of effect belongs to gains or losses relative to a reference point?
Self-referential memory effect -
What is the principle of the singularity effect?
The finding that donations are greater when the target of help is an identifiable individual rather than a group
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