Citation:
Jijun TANG. The Evolution and Behavioral Turn of Development Economics and Its Contemporary Implications[J]. Academic Monthly, 2021, 53(11): 49-59.
The Evolution and Behavioral Turn of Development Economics and Its Contemporary Implications
-
Abstract
By means of investigation into the integration of behavioral economics and development economic theory in the early 21th century, we found the new insights provide some new foundations for the development economics. Reviewing the evolution of development economics, we analyze the limits of existing neoclassical paradigm, including the traditional or mainstream development economics, new institutional development economics, imperfect information economics and behavioral development economics, particularly discuss the mental accounting, default rule and cognitive biases beyond the economic man model. Hence we make use of the insights from behavioral economics to take into account behavioral failure and complement with market failure, and focus on the information processing or imperfect mental models. We found that behavioral biases lead to imperfect market and leading to Pareto inefficiency．These behavioral failures open up economic development challenges for the poor. So it is necessary to small government intervention (nudge) to correct the behavioral biases into a rational way, combining the behavioral and market failures for the current China to fight the poverty and the economic development with high quality in the New Era.
-
-
References
-
Access
-
-
[1]
LIU Wei
. Several Important Theoretical Issues Needing Further Clarification for the Growth and Expansion of the Private Economy. Academic Monthly,
2026, 58(7): 41-53.
-
[2]
SHEN Yifei
. Theoretical Genealogies of the Emotional Economy and the Chinese Context. Academic Monthly,
2026, 58(7): 129-142.
-
[3]
ZHANG Jun
, FANG Hongsheng
. Intergovernmental Fiscal Relations and Economic Growth. Academic Monthly,
2026, 58(8): 70-90.
-
[4]
WANG Gang
. Viewing the Cultural Intent of the “Xueheng School” from Hu Xiansu's Teachers and Friends's Group. Academic Monthly,
2026, 58(7): 206-216.
-
[5]
WEN Jun
. From Technical Tokens to Social Tokens: the Ontological Construction of Token Sociology. Academic Monthly,
2026, 58(8): 145-156.
-
[6]
ZHOU Mujun
. Between Theory and Empirical Facts: Habermas and the Sociological Debate on the Public Sphere. Academic Monthly,
2026, 58(8): 157-170.
-
[7]
LI Ming
, XU Haiqi
, XU Changtuo
. A Statistical Framework and Measurement Results for Public Finance Investing in People. Academic Monthly,
2026, 58(8): 91-105.
-
[8]
LI Yushuan
. New Changes and Causes of the Poetry Style of Monks in the Ming Dynasty. Academic Monthly,
2026, 58(7): 170-180.
-
[9]
YU Jianxing
, LIU Yuxuan
. Beyond the Outside Observer: Repositioning the Social Sciences in the Era of Large Language Models. Academic Monthly,
2026, 58(7): 77-89.
-
[10]
XIE Yue
. How State Capacity Is Generated in Practice——A Dynamic Equilibrium Model of Governance. Academic Monthly,
2026, 58(8): 106-117.
-
[11]
LI Ting
. From The Reproductive Institution to the Fertility Transition in Contemporary China. Academic Monthly,
2026, 58(7): 143-156.
-
[12]
NI Liangkang
. The Philosophy of History of “New Idealism” after Hegel: Neo-Hegelianism. Academic Monthly,
2026, 58(7): 12-22.
-
[13]
RAN Gaoran
. The Evolution and Game of Property Systems——On the Paradigm Choice for Data Property. Academic Monthly,
2026, 58(7): 117-128.
-
[14]
ZHANG Yi
. Cognitive Transformation in Historical Research in the Age of AI——“Fluency-Induced Occlusion” in LLM-Assisted Reading of Diplomatic Manuscripts. Academic Monthly,
2026, 58(8): 29-40.
-
-
沪公网安备 31010102003103号
DownLoad: