
Contents
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1. Introduction 1. Introduction
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2. Exogeneity Under Attack 2. Exogeneity Under Attack
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Behavioral Economics and Behavioral Game Theory Behavioral Economics and Behavioral Game Theory
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Agent‐based Computational Economics and Complexity Accounts Agent‐based Computational Economics and Complexity Accounts
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3. Interaction Revisited 3. Interaction Revisited
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Classical Game Theory Classical Game Theory
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Evolutionary Game Theory Evolutionary Game Theory
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ACE Network Theories ACE Network Theories
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4. Aggregate Behavior and Feedback 4. Aggregate Behavior and Feedback
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Behavioral Game Theory Behavioral Game Theory
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Neuroeconomics Neuroeconomics
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Evolutionary Economics/ACE Complexity Thinking Evolutionary Economics/ACE Complexity Thinking
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5. Synchronic and Diachronic Forms of Explanation 5. Synchronic and Diachronic Forms of Explanation
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6. Embedded Individual Microfoundations 6. Embedded Individual Microfoundations
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7. Concluding Speculations 7. Concluding Speculations
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Notes Notes
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References References
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8 Competing Conceptions of the Individual in Recent Economics
Get accessJohn Davis is Professor Emeritus of Economics, Marquette University, USA, and Professor Emeritus of Economics, University of Amsterdam, Netherlands.
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Published:02 September 2009
Cite
Abstract
This article characterizes the Homo economicus conception in terms of three linked properties that are central to it as an atomist conception. On the standard view, individuals: have exogenous preferences; interact only (or almost only) in an indirect manner with one another through the price mechanism; and are unaffected in these two respects by the aggregate effects of their interaction with one another. The new research programs differ in how objectionable they find each of these properties, as befits their different commitments to synchronic or diachronic forms of explanation. Furthermore, this article reviews the role of synchronic and diachronic types of explanations in the possible emergence of a new general research program, discusses embedded individual microfoundations for that general program, and closes with speculations regarding the role of thinking about individuals in a future synthesis of the new research programs.
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