Economics and Psychology One-Day Conference

The fourth one day conference on Economics and Psychology will be held in the UCD Geary Institute on November 25th. The purpose of these sessions is to develop the link between Economics, Psychology and cognate disciplines in Ireland. A special theme of this year’s event will be the implications of behavioural economics for public policy. Abstracts (200-500 words) should be submitted before August 31st to Liam.Delaney@ucd.ie. Selected papers will feature in a special issue of the ESR policy section. Those wishing to have their paper considered should submit a draft before the November 25th session. Final drafts will be submitted for external peer review in January 2012.

16 replies on “Economics and Psychology One-Day Conference”

Perhaps someday psychology will be the micro-foundations for macro-economics.

Psychology in economics is only relevant in its analysis of Central bankers and their strange psychosis.
The rest of us respond to the money supply in a primitive easily predicted Pavlov dog like manner.

Sounds very interesting and timely!
Lets hope it will attract some papers and engage debate on the predictability and influence of a nation’s cultural mindset on the psychological trajectories of Troika decision-making and a nation’s reactions to such decisions in shaping economic policies.

@The Dork of Cork

Psychology in economics is only relevant in its analysis of Central bankers and their strange psychosis.
The rest of us respond to the money supply in a primitive easily predicted Pavlov dog like manner.

I want to call you up on this. Your comment was rather insolent.

Here’s a brief list of where psychology is useful to economics: understanding the evolutionary reasons for persistent biases in our thinking; the relationship between early-life neural development and labour market outcomes; psychological analyses of risk and market bubbles; “hyperbolic discounting” and not planning for old age; the reaction of individuals to default settings; incorporating well-being and/or happiness as a benefit of economic progress rather than merely looking at GDP statistics.

Really, Dork, it doesn’t cost anything to be polite.

Enda, you could add “denial” and “group-think” to the list of psychological concepts that have particular relevance for contemporary economics. Psychometrics, i.e. measuring cognitive and non-cognitive traits, plays an important role in empirical labour economics. Experimental economics has drawn heavily on psychology. Satisficing, bounded rationality…the list goes on. Except for viewers in Cork, I guess.

@Enda
Bank produces symbolic BTU , Dork lodges symbolic BTU in account , Dork spends BTUs……
Am I missing something ?

Psychology and economics are somewhat alike in that both are social pseudo-sciences which seek to explain human behaviour – which is mighty quirky betimes.

You study folk and their behaivour and you come to some conculsions; only to have them promptly falsified. Humans are realy that quirky! But that’s evolution for you.

Dork’s comments about money – in all its various manifestations are spot on. Now lets see if they can be falsified – outside of a Trappist monastry that is!

The greatest failings in social policy are of truly heroic dimensions, but because they have been so heroic and successful they MUST be continued. It would be irrational (?) to exit a successful strategy – most especially a failing one! But that’s economics (and other stuff) for you!

The Euro???

See y’all around.

Brian Snr.

@Ordinary man
Yeah I have a attitude to risk – I was a Euro baby until the non default on the shadow bank sector – then I grew up.
Once they did that they devalued the currency massively – its just a question of who pays now.

@ Brian Woods Snr.

Brian, your myth-busting contributions have up until know been characterised by logic and common sense. Hence, my amazement at the following sentences:

“Humans are realy that quirky! But that’s evolution for you.”

Surely, you of all believe people believe in the pseudoscience of (macro) evolution!! Genetic entropy, the irreducible complexity of the cell and all the organs, mind boggling dna codes, countless examples of creatures that defy evolution in their complexity and interdependancy – all of which were unknown to Darwin at the time, have shown up his theory for what it is – the emperor’s new clothes!! Check out http://www.uncommondescent.com/ for a paradigm-shifting perspective!

@ Dork

😉

Have you ‘grew up’ or given up?

Take what medicine ‘they’ deal out to you and that’s your lot?

Come on you are smater than that.

@ MK: “… logic and common sense”???

I thought I gave up those when I moved up from ‘shorts’ to ‘longers’. But that’s adaptation for you!

Kool blog! Needs a liquid-based accompaniment to enhance the 3-D effects.

Brian Snr.

@Ordinary man
Dr Trichet thinks he can cure the Dollar reserve pox by administering a austerity vaccine to the patient – but I don’t trust his credentials.

Me thinks he is looking for the glory of a new financial medicine – but I figure he may be right in his diagnosis but wrong in his application.

I will try to take my chances outside the sanatorium.

I think a focus should be on a teaching/communications programme that aids the consumer in understanding lessons of behavioural economics. In the UK BBC occasionally do very good education programmes…something similar is thus viable in Ireland, perhaps with a web based eLearning/certification augmentation.

Such an investment, could actually have direct payback, as it would increase external confidence in our economy.

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