COGNITIVE ECONOMICS AS A NEW APPROACH IN EXPLAINING ECONOMIC BEHAVIORS

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MOHAMMADZADEH PARVIZ; BEHESHTI MOHAMMAD BAGHER; AKBARI AKRAM

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Journal: Journal of Economic Research Year:2017 | Volume:52 | Issue:1 Page(s): 1-34

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Information Journal Paper

Title

COGNITIVE ECONOMICS AS A NEW APPROACH IN EXPLAINING ECONOMIC BEHAVIORS

Author(s)

MOHAMMADZADEH PARVIZ | BEHESHTI MOHAMMAD BAGHER | AKBARI AKRAM | Issue Writer Certificate

Keywords

COGNITIVE SCIENCEQ2

CONSUMER BEHAVIOR THEORYQ1

BOUNDED RATIONALITYQ1

ABSOLUTE RATIONALITYQ2

Abstract

Consumer behavior is the most important issues in microeconomics. In neoclassical economics it is assumed that in order to reach the goals, human behavior is based on ABSOLUTE RATIONALITY. While, Simon criticizes the paradigm assumptions of neoclassic school and introduces the BOUNDED RATIONALITY. Since, because of uncertainty and lack of access to enough information, human faces with limited cognitive. So that cannot decide rationally, according to neoclassical economics predictions. So, based on the studies in this field, we can say that human behavior is affected by the intuitional and reasoning factors. The purpose of this paper is to discuss consumer behavior with a different approach and to mention the critics that are posed to neoclassical economics. The purpose of this paper is to discuss the consumer behavior by using four approaches of economics, psychology, social science and COGNITIVE SCIENCE. The most important approach which, in recent years, absorb a lot of attention, is COGNITIVE SCIENCE that attempt to percept human brain and mind which receipts, keeps and process the information. This science focuses on reasoning, perception, retention, cognizance, emotions, attention, awareness, creativity and connection between them which are used to understand the ability of the human brain. The purpose of this paper is to illustrate the function of COGNITIVE SCIENCE in consumers' behavior as an important matter in economics.

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APA: Copy

MOHAMMADZADEH, PARVIZ, BEHESHTI, MOHAMMAD BAGHER, & AKBARI, AKRAM. (2017). COGNITIVE ECONOMICS AS A NEW APPROACH IN EXPLAINING ECONOMIC BEHAVIORS. TAHGHIGHAT-E-EGHTESADI, 52(1 ), 1-34. SID. https://sid.ir/paper/11756/en

Vancouver: Copy

MOHAMMADZADEH PARVIZ, BEHESHTI MOHAMMAD BAGHER, AKBARI AKRAM. COGNITIVE ECONOMICS AS A NEW APPROACH IN EXPLAINING ECONOMIC BEHAVIORS. TAHGHIGHAT-E-EGHTESADI[Internet]. 2017;52(1 ):1-34. Available from: https://sid.ir/paper/11756/en

IEEE: Copy

PARVIZ MOHAMMADZADEH, MOHAMMAD BAGHER BEHESHTI, and AKRAM AKBARI, “COGNITIVE ECONOMICS AS A NEW APPROACH IN EXPLAINING ECONOMIC BEHAVIORS,” TAHGHIGHAT-E-EGHTESADI, vol. 52, no. 1 , pp. 1–34, 2017, [Online]. Available: https://sid.ir/paper/11756/en

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