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Level of aspiration theory and economic behavior
Author(s) -
Starbuck William H.
Publication year - 2007
Publication title -
behavioral science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.371
H-Index - 45
eISSN - 1099-1743
pISSN - 0005-7940
DOI - 10.1002/bs.3830080205
Subject(s) - idealization , bridge (graph theory) , impulse (physics) , action (physics) , rational choice theory (criminology) , psychology , computer science , positive economics , epistemology , management science , economics , social psychology , philosophy , criminology , medicine , physics , quantum mechanics
Traditional economic theory is built on an idealization of man. This economic man has tremendous computational power. He has a detailed knowledge of his needs and desires. He has a thorough understanding of his environment and its causal relationships. He carefully plans every action and is never subject to impulse. This idealization has advantages. Strong assumptions usually lead to strong conclusions. However, it is difficult to bridge the gap between the rational economic man and the groping, unstable man whom the behavioral scientist knows. This paper describes a first step toward a model of economic man which is more realistic from the viewpoint of the behavioral scientist.