Economics and the Mind

This book explores the connection between economics and mental processes, highlighting how choice and action are influenced by beliefs and intentions in Economics and the Mind.

This volume brings together economists and philosophers of the mind to explore the intersection of their disciplines. Economics is often defined as the science of choice or human action. However, choice and action are fundamentally mental phenomena, a facet that is seldom addressed in economic discussions. Although choice is not always a conscious or rational process, it is believed to involve beliefs, desires, intentions, and arguably even free will. Actions are typically contrasted with mere bodily movements, as the former can only be understood in the context of mental processes, while the latter can be explained in purely physical terms.

While philosophers have long examined the connections between these concepts, economists have generally avoided what might seem like a purely theoretical debate. Conversely, philosophers who delve into these significant ideas have often refrained from engaging with the empirical and practical applications that are the focus of economists. This gap in discourse is addressed in Economics and the Mind, which facilitates a dialogue between these two fields.

By bringing together economists and philosophers, this volume encourages a collaborative exploration of how mental processes influence economic choices and actions. It bridges the divide between theoretical considerations and real-world applications, ultimately enriching both disciplines. The insights gained from this intersection may lead to a deeper understanding of decision-making and human behavior in economic contexts.