Abstract In experimental economics one can confront a “don’t!”, as in “do not deceive your participants!”, well “do!”, “incentivize choice making!”. Neither exists psychology. Further controversies exist data collection methods, e.g., play strategy (vector) method game experiments, and how to guarantee external internal validity by describing scenarios field-related vignettes or abstract, often...

Neuroeconomics has further bridged the once disparate fields of economics and psychology. Such convergence is almost exclusively attributable to changes within economics. Neuroeconomics has inspired more change within economics than within psychology because the most important findings in neuroeconomics have posed more of a challenge to the standard economic perspective. Neuroeconomics has prim...

Neuroeconomics has further bridged the once disparate fields of economics and psychology. Such convergence is almost exclusively attributable to changes within economics. Neuroeconomics has inspired more change within economics than within psychology because the most important findings in neuroeconomics have posed more of a challenge to the standard economic perspective. Neuroeconomics has prim...

This paper discusses the development of mathematical psychology, decision theory, and behavioral decision research at the University of Michigan in the 1950s and 1960s. It focuses on the question how to understand the connection to economics these three psychological programs considered, and provides a background for understanding subsequent developments of Kahneman and Tversky’s work in the 19...

This article reviews the historical development of behavioral economics, with an emphasis on how it has become part of mainstream economics. First I describe the separation between economics and psychology as a historical background against which behavioral economics emerged. Then I introduce critiques of expected utility theory (EUT), and explain how behavioral decision research developed usin...