Realities of psychology and economics

TERRA ECONOMICUS, , Vol. 11 (no. 1.1),
p. 39-47

The article represents an extensive commentary on a paper of S. DellaVigna (DellaVigna, 2009; DellaVigna, 2011a; DellaVigna, 2011b; DellaVigna, 2011c), where the author finds out genetically common roots of economics and psychology and also their contradictions. Coming back to the basic assumptions of economic psychology models offered by R. Strotz (Strotz, 1956) the author argues that ethics and moral values problems should be considered as pivotal in explanations of economic behavior and relations. Thus within the complex interactions between economics and psychology the economic theory should try to become an instrument which is not reconstructing but constructing the subject space – the LebensWelt. The task of the economic psychology under the project of mutual cooperation can be a search for new facts, an estimation of the viability and the effectiveness of the constructs created by the economy, a creation of a new knowledge and then its verbalization.

Keywords: economy; economic psychology; ethics and moral values; the subject space

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606