Does Macroeconomics Need Microeconomic Foundations?

I argue 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
Published in:	Economics: The Open-Access, Open-Assessment E-Journal. - Kiel : Kiel Institute for the World Economy (IfW), ISSN 1864-6042. - Vol. 3.2009, 2009-23, p. 1-11
Publisher:	Kiel : Kiel Institute for the World Economy (IfW)
Subject:	Mikroökonomische Fundierung \| Neuroökonomie \| Econophysics \| Microfoundations \| neuroeconomics \| econophysics

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.5018/economics-ejournal.ja.2009-23 [DOI] 601435796 [GVK] hdl:10419/27542 [Handle] RePEc:zbw:ifweej:7608 [RePEc]
Classification:	B22 - Macroeconomics ; B41 - Economic Methodology ; C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; D87 - Neuroeconomics
Source:	EconStor

Persistent link: https://www.econbiz.de/10010298641