Does Macroeconomics Need Microeconomic Foundations?

The author argues that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.

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Year of publication:	2009
Authors:	Da Silva, Sergio
Publisher:	Kiel : Kiel Institute for the World Economy (IfW)
Subject:	Mikroökonomische Fundierung \| Neuroökonomie \| Econophysics \| Microfoundations \| neuroeconomics \| econophysics

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Series:	Economics Discussion Papers ; 2009-3
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	588863351 [GVK] hdl:10419/27484 [Handle] RePEc:zbw:ifwedp:7482 [RePEc]
Classification:	C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; B41 - Economic Methodology ; B22 - Macroeconomics ; D87 - Neuroeconomics
Source:	EconStor

Persistent link: https://www.econbiz.de/10010298584