Folk-economic beliefs as "evidential fiction": Putting the economic public discourse back on track. (30th August 2018)

• Record Type: Journal Article
• Authors: Acerbi, Alberto; Sacco, Pier Luigi
• Is Part Of: Behavioral and brain sciences. Volume 41(2018)
• Publication Date: 2018-08-30
• Subjects: Psychophysiology -- Periodicals; Psychology -- Periodicals; Human behavior -- Periodicals; Animal behavior -- Periodicals; Brain -- Periodicals; 616.89142
• DOI: 10.1017/S0140525X18000250
• Languages: English
• ISSNs: 0140-525X

Abstract

Abstract: Folk-economic beliefs may be regarded as "evidential fictions" that exploit the natural tendency of human cognition to organize itself in narrative form. Narrative counter-arguments are likely more effective than logical debunking. The challenge is to convey sound economic reasoning in narratively conspicuous forms – an opportunity for economics to rethink its role and agency in public discourse, in the spirit of its old classics.