Abstract
It is both artificial and impractical to split behavior into clearly distinct compartments, economic behavior vs. non-economic behavior (MacFadyen and MacFadyen, 1986). Psychology and economics share the common problem of developing and testing models which describe, explain and predict the behavior of individuals alone and in groups. Both disciplines have tackled this problem proficiently, albeit with different emphasis. One of the differences is that psychology has been engaged heavily in explaining behavior, sometimes at the expense of trying to predict behavior — assuming that explanation naturally leads to prediction. Economics, on the other hand, has focussed mainly on the prediction of behavior, sometimes neglecting the explanation of behavior — assuming that explanation lies in the prediction.
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Pieters, R.G.M. (1988). Attitude-behavior Relationships. In: van Raaij, W.F., van Veldhoven, G.M., Wärneryd, KE. (eds) Handbook of Economic Psychology. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-7791-5_5
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