Show Summary Details
Page of

date: 24 July 2021

p. 1008. Behaviour in the macroeconomylocked

p. 1008. Behaviour in the macroeconomylocked

  • Michelle Baddeley


Behavioural macroeconomics has significant constraints, reflecting the difficulty of bringing together the choices of different people with widely different personality types, moods, and emotions, making decisions in complex ways using a wide range of heuristics that generate an even wider range of biases. ‘Behaviour in the macroeconomy’ explores how behavioural economists can overcome these difficulties, contributing to the development of innovative macroeconomic theories and collection of new types of behavioural macroeconomic data. It focuses on how social and psychological factors, including optimism and pessimism, help us to understand macroeconomic fluctuations; the impact of confidence and social mood on macroeconomic outcomes; and another theme in behavioural economics—happiness and well-being.

Access to the complete content on Very Short Introductions online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can't find the answer there, please contact us.