Behavioural Economics in the Contextof Social Science Methodology

Szymanek, Krzysztof; Zielonka, Piotr

Abstract

Purpose: The article discusses selected methodological issues of natural and social sciences with particular consideration of behavioural economics to highlight the signifcance of experimental research.

Design approach: The order of the issues covered is as follows: (a) science as a product of a research community, (b) basic cognitive activities in science, (c) a short description of social sciences, (d) a discussion on the methods applied in behavioural economics.

Findings: The article offers a description of research procedure, its objectives and the methods applied therein; it has been stressed that testing theories and hypotheses involves exposing them to falsifcation; it has been emphasised that research conducted within the framework of social sciences is more diffcult than in the case of natural sciences because of the large number of independent variables and the possible interaction between the researcher and research participants.

Practical implications: The content presented in the article highlights the value of scientifc fndings as opposed to common-sense knowledge adopted with the disregard of the principles of proper methodology.

Value: The authors believe that the emergence of behavioural economics was an attempt to overcome certain defciencies in the methodology of classical economics by means of experimental research.

Keywords

natural science (1)social science (1)methodology (4)behavioural economics (1)falsification (1)

References

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APA style

Szymanek, Krzysztof & Zielonka, Piotr (2017). Szymanek, K. , & Zielonka, P. . (2017). Behavioural Economics in the Contextof Social Science Methodology. Central European Management Journal, 25(4), 177-192. https://doi.org/10.7206/jmba.ce.2450-7814.213 (Original work published 2017)

MLA style

Szymanek, Krzysztof and Zielonka, Piotr. Szymanek, K. , and P. Zielonka. “Behavioural Economics In The Contextof Social Science Methodology”. 2017. Central European Management Journal, vol. 25, no. 4, 2017, pp. 177-192.

Chicago style

Szymanek, Krzysztof and Zielonka, Piotr. Szymanek, Krzysztof , and Piotr Zielonka. “Behavioural Economics In The Contextof Social Science Methodology”. Central European Management Journal, Central European Management Journal, 25, no. 4 (2017): 177-192. doi:10.7206/jmba.ce.2450-7814.213.

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CC-BY-NC-ND

[1] Bernstein, P. (1998). Against the Gods: The Remarkable Story of Risk. Wiley. [Google Scholar]

[2] Bunge, M. (1996). In praise of intolerance to charlatanism in Academia. Annals of the New York Academy of Sciences, 775: 96-116, https://doi.org/10.1111/j.1749-6632.1996.tb23131.x [Google Scholar]

[3] Chalmers, A. (2004). What is this thing called Science? Shoppenhangers Road: Open University Press. [Google Scholar]

[4] Hergenhahn, B.R. and Henley T. (2017). An Introduction to the History of Psychology. San Francisco, CA: Cengage Learning. [Google Scholar]

[5] Kahneman, D. and Tversky, A. (1979). Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47(2): 263–292, https://doi.org/10.2307/1914185 [Google Scholar]

[6] Kolodko, G.W. (2017). New Pragmatism: In the Quest for Economics and Development Policy in the 21st Century. Journal of Management and Business Administration. Central Europe, 2: 2–5, https://doi.org/10.7206/jmba.ce.2450-7814.192 [Google Scholar]

[7] Kuhn, T.S. (1977). Objectivity, Value Judgment and Theory Choice', in The Essential Tension. University of Chicago Press, Chicago. [Google Scholar]

[8] Kuhn, T.S. (1985). The Copernican Revolution. Harvard University Press. [Google Scholar]

[9] Kuhn, T.S. (1962). The Structure of Scientific Revolutions. Chicago: University of Chicago Press. [Google Scholar]

[10] Merton, R.K. (1948). The Self Fulfilling Prophecy. Antioch Review, 8(2): 195, https://doi.org/10.2307/4609267 [Google Scholar]

[11] Morawski, W. (2016). Economic Identities: Four Paths Out of the “Iron Cage”. Journal of Management and Business Administration Central Europe, 24(4): 2–9, https://doi.org/10.7206/jmba.ce.2450-7814.179 [Google Scholar]

[12] Nola, R. and Sankey, H. (2007). Theories of Scientific Method. An Introduction. McGill-Queen’s University Press. [Google Scholar]

[13] Popper, K. (1959). The Logic of Scientific Discovery. London: Routledge. [Google Scholar]

[14] Popper, K. (1957). The poverty of historicism. London: Routledge. [Google Scholar]

[15] Quine W.V. and Ullian J.S. (1978). The Web of Belief. New York: McGraw-Hill, Inc. [Google Scholar]

[16] Ruben, D-H. (2004). Explaining Explanation. Oxford: Oxford University Press. [Google Scholar]

[17] Rzeszutek, M. and Szyszka, A. (2017). Od homo oeconomicus do homo realis: o pożytkach płynących z większego otwarcia się ekonomii na psychologię. Studia i Prace Kolegium Zarządzania i Finansów, 155: 73–94. [Google Scholar]

[18] Shapiro, S. (1997). Philosophy of Mathematics. Structure and Ontology. Oxford University Press, USA. [Google Scholar]

[19] Skyrms, B. (2000). Choice and Chance. An Introduction to Inductive Logic. Wadsworth: Thomson Learning. [Google Scholar]

[20] Suppe, F. (1977). The Structure of Scientific Theories. Urbana: University of Illinois Press. [Google Scholar]

[21] Szczeklik, A. (2002). Katharsis. O uzdrowicielskiej mocy natury i sztuki. Kraków: Wydawnictwo Znak. [Google Scholar]

[22] Szymanek, K. and Zielonka, P. (2017). Preface to Polish edition. In: R. Dawes, House of Cards. Warszawa: CeDeWu. [Google Scholar]

[23] Zielonka, P. (2003). Czym są finanse behawioralne, czyli krótkie wprowadzenie do psychologii rynków finansowych. NBP, Departament Komunikacji Społecznej. [Google Scholar]

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