Cognitive Dissonance no copyright laws infringement intended Essay

The Journal of Socio-Economics 38 (2009) 658–662

Contents lists offered by ScienceDirect

The Journal of Socio-Economics

record homepage: www.elsevier.com/locate/soceco

Two sources of human irrationality: Cognitive dissonance

and human brain dysfunction

David Lester a, в€—, Ornement Yang n

a

b

Psychology Plan, The Rich Stockton College or university of New Shirt, Jimmie Leeds Road, Pomona, NJ 08240-0195, USA Section of Economics and Worldwide Business, Drexel University, Philadelphia, PA, UNITED STATES

a ur t i c l e

my spouse and i n farreneheit o

JEL classification:

B41

B50

D19

J10

a b s i9000 t 3rd there’s r a c t

Akerof and Dickens explored the relevance of cognitive dissonance theory pertaining to economics, and the theory is definitely shown in this article to forecast occasional irrational thinking. Secondly, it is suggested that the concentrate of the neuroeconomics on brain dysfunction and the role of neurotranmitters on honnetete suggests two ways in which the functioning of the brain can hinder rational decision-making. В© 2009 Elsevier Incorporation. All rights reserved.

Keywords:

Neuroeconomics

Intellectual dissonance

Mind dysfunction

A large number of economists (and associated sociable scientists) are looking at ways in which the classical look at of human beings as realistic decisionmakers could be modified for growing irrational elements. To take simply two of the many possible illustrations, Tversky and Kahenman (1981) examined how a phrasing from the decision impacts the respondent's choice, while Simon (1982) introduced the concept of bounded rationality, asserting that people were limited in their details about alternatives and in their computational power. The present paper presents two innovative ways in which incongruity can affect monetary decision-making: intellectual dissonance and neuroeconomics.

(Aronson, 1979). That they noted 3 postulates: (1) people have preferences over their very own beliefs regarding the state of the world, (2) people have some control over their morals, and (3) beliefs when chosen persist over time. In addition they note particular beliefs that people hold, including that people " view themselves as ‘smart, nice people”' (Akerlof and Dickens, 1982, p. 308).

This edition of cognitive dissonance theory would come as a

great surprise to Leon Festinger who proposed cognitive cacophonie theory back 1957 (Festinger, 1957).

1 . Cognitive dissonance

The basic elements in Festinger's theory of cognitive cacophonie are notion, that is, understanding of the things that you understand about yourself, your patterns and your surroundings. Cognitions include opinions, philosophy, attitudes, and values. Your elements of cognition map truth for you.

Two cognitions can be irrelevant to each other. You may be

which it takes 4 weeks for snail mail to comes from New York to Paris simply by sea and this a dry out, hot July is good for plants in Grand rapids. These two intuition seem to be irrelevant. However , it is difficult being quite sure that they are irrelevant. For example , imagine if an New jersey farmer is definitely on vacation in Paris?

Two cognitions are often relevant to one another. Two intellectual elements will be consonant in the event one suggests the different. Two cognitive elements are dissonant if one suggests the opposite of the other. For example , dissonance may possess a logical basis (you may well believe that guy will reach the stars shortly, but you might also be aware that it will take too long for the journey), a cultural/mores basis (it is improper to pick up a pork-chop cuboid in a restaurant, but your particular bone

Akerlof and Dickens (1982) looked into the consequences of cognitive cacophonie theory to get the economic conceptualization of human decision-making. The classic idea of " economic man” was that he (or she) is a fully rational person that makes, therefore , fully realistic decisions. Cognitive dissonance theory suggests that people do not constantly make this sort of rational decisions.

Unfortunately, Akerlof and Dickens had an wrong understanding of cognitive dissonance theory. The present paper corrects their particular conceptualization and explores, briefly,...

References: Akerlof, G. A., Dickens, T. T., 1982. The monetary consequences of cognitive cacophonie. American Financial Review 72, 307–319.

Anon., 2005. Mind games: can easily studying the mind revolutionize economics? The

Economist 374 (8409), 71.

Aronson, E., 1979. The Cultural Animal. Watts. H. Freeman, San Francisco.

Bhatt, M., Camerer, C., 2005. Self-referential Considering and Equilibrium as States

of Min in Games (Accessed January 28, 2005) www.hss.caltech.edu/в€јcamerer/

Carlsten, A., Waern, M., Ekedahl, A., Ranstam, J., 2001. Antidepressant medicine

and suicide in Laxa, sweden

Cloninger, C. R., 1986. A unified biosocial theory of character and its role in the

development of anxiety declares

Cloninger, C. R., Przybeck, T. Ur., Svrakic, M. M., Wetzel, R. M., 1994. The Temperament

and Character Inventory (TCI): A Guide to its Development and Make use of

Eysenck, H. J., 1967. The Biological Basis of Persona. Charles Jones, Springfield,

ARIANNE.

Festinger, L., 1957. A Theory of Cognitive Cacophonie. Stanford School Press, Stanford.

Gray, M., 1972. The psychophysiological character of introversion–extraversion. In:

Nebylitsyn, V. Deb., Gray, L. A

Kelly, G. A., 1955. The Psychology of Personal Constructs. Norton, New York.

Kessler, R. C., McGonagle, E. A., Zhao, S., Nelson, C. N., Hughes, M., Eshleman, S i9000.,

Wittchen, They would. U., Kendler, K. S i9000., 1994

Lecky, P., 69. Self-consistency. Doubleday, Garden City, NY.

Lester, D., mid 1970s. A Physical Basis to get Personality Traits. Charles Thomas, Springfield, IL.

Lester, D., 1989. A neurotransmitter basis intended for Eysenck's theory of individuality. Psychological Information 64, 189–190.

Sheldon, Watts. H., 1942. The Types of Temperament. Harper, New York.

Bob, H. A., 1982. Types of Bounded Rationality. MITY Press, Cambridge, MA.

Spinella, Meters., Yang, B., Lester, M., 2004. Prefrontal cortex malfunction and salary: a

research in neuroeconomics

Tversky, A., Kahenman, Deb., 1981. The framing of decisions and the rationality of

decision



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