Two Minds: Intuition and Analysis in the History of Economic Thought eBook

Delivery: Can be download immediately after purchasing. For new customer, we need process for verification from 30 mins to 12 hours.
Version: PDF/EPUB. If you need EPUB and MOBI Version, please send contact us.
Compatible Devices: Can be read on any devices.

As everyone knows, intuition is warm and fuzzy, qualitative, not measurable. Economics, on the other hand, is quantitative, and if it is not a hard science, at least it is the “queen of the social sciences.” It is, therefore, intuitively obvious, that intuition and economics are as if oil and water. The problem is, what is intuitively obvious is not always correct. And, there are two major reasons why intuition and economics are not like oil and water. First, economics concerns itself with decision making, and decisions are made in the brain. The human brain is the size of a grapefruit, weighing three pounds with approximately 180 billion neurons, each physically independent but interacting with the other neurons. What we call intuition is, like decision making, a natural information processing function of the brain. Second, despite the current emphasis on quantitative analysis and deductive logic there is a rich history of economists speaking about intuition. First, the human brain, specifically the neocortex, has a left and right hemisphere. The specialized analytical style of the left hemisphere and the specialized intuitive style of the right hemispheres complement each other.

This is a digital product.

Additional ISBNs
9780387240695

Two Minds: Intuition and Analysis in the History of Economic Thought is written by Roger Frantz and published by Springer. The Digital and eTextbook ISBNs for Two Minds are 9780387239347, 0387239340 and the print ISBNs are 9780387232560, 0387232567. Additional ISBNs for this eTextbook include 9780387240695.