Economics and Psychology: A Promising New Cross-Disciplinary Field

The integration of economics and psychology has created a vibrant andfruitful emerging field of study. The essays in Economics and Psychology take abroad view of the interface between these two disciplines, going beyond the usualfocus on "behavioral economics." As documented in this volume, the influence ofpsychology on economics has been responsible for a view o

The integration of economics and psychology has created a vibrant andfruitful emerging field of study. The essays in Economics and Psychology take abroad view of the interface between these two disciplines, going beyond the usualfocus on "behavioral economics." As documented in this volume, the influence ofpsychology on economics has been responsible for a view of human behavior that callsinto question the assumption of complete rationality (and raises the possibility ofaltruistic acts), the acceptance of experiments as a valid method of economicresearch, and the idea that utility or well-being can be measured.The contributors, all leading researchers in the field, offer state-of-the-art discussions of suchtopics as pro-social behavior and the role of conditional cooperation and trust, happiness research as an empirical tool, the potential of neuroeconomics as a way todeepen understanding of individual decision making, and procedural utility as aconcept that captures the well-being people derive directly from the processes andconditions leading to outcomes. Taken together, the essays in Economics andPsychology offer an assessment of where this new interdisciplinary field stands andwhat directions are most promising for future research, providing a useful guide foreconomists, psychologists, and social scientists.