Mindful economics: The production, consumption, and value of beliefs

Bénabou, Roland, and Jean Tirole. “Mindful economics: The production, consumption, and value of beliefs." Journal of Economic Perspectives 30.3 (2016): 141-64. [PDF] aeaweb.org


人類的 heuristics and biases (Tversky and Kahneman 1974)

  • over-confidence,
    (as discussed in a “Symposium on Overconfidence” in the Fall 2015 issue of this journal)
    YNY: moderate overconfidence can be helpful to enhance people’s ability to do things and interact with others successfully. Overoptimistic individuals often work more, save more, expect to retire later, and much healthier.
  • confirmation bias,
  • distorted probability weighting

本文回顧 growing literature on motivated beliefs and reasoning


==cited by Bruno S. Frey==

[This article] provides a most useful survey of recent insights of psychology but also makes a successful effort to integrate them into economics. They deal with heuristics and biases inconsistent with the standard homo oeconomicus such as over-confidence, confirmation bias, distorted probability weighting, and other cognitive mistakes.

Incentives and prosocial behavior

Bénabou, Roland, and Jean Tirole. “Incentives and prosocial behavior." American economic review 96.5 (2006): 1652-1678. [PDF] princeton.edu


What is, therefore, the broader set of motives that shape people’s social conduct, and how do these motives interact with each other and the economic environment?