Extending Austrian Economics toward Psychology: Rules in Loan Decisions

Extending Austrian Economics toward Psychology: Rules in Loan Decisions The proponents of the Austrian school of economics, like economists in general, often take a negative view of incorporating psychological assumptions in the main body of economic theory. Still they regularly make use of such assumptions while applying the theory. The paper argues for a cautious use of the findings of psychology from the very start of economic reasoning. The examples employed to illustrate the argument are from the loan decision process of a banker. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Extending Austrian Economics toward Psychology: Rules in Loan Decisions

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Publisher
Springer Journals
Copyright
Copyright © 2004 by Kluwer Academic Publishers
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1023/B:RAEC.0000044635.48670.9f
Publisher site
See Article on Publisher Site

Abstract

The proponents of the Austrian school of economics, like economists in general, often take a negative view of incorporating psychological assumptions in the main body of economic theory. Still they regularly make use of such assumptions while applying the theory. The paper argues for a cautious use of the findings of psychology from the very start of economic reasoning. The examples employed to illustrate the argument are from the loan decision process of a banker.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 27, 2004

References

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