The economic psychology as an answer to methodological individualism

Vol. 31 No. 2 (2011)

Apr-Jun / 2011
Published April 1, 2011
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Hofmann, Ruth, and Victor Pelaez. 2011. “The Economic Psychology As an Answer to Methodological Individualism”. Brazilian Journal of Political Economy 31 (2):262-82.

The economic psychology as an answer to methodological individualism

Ruth Hofmann
Departamento de Engenharia de Produção, Universidade Federal do Paraná.
Victor Pelaez
professor associado do Departamento de Economia da Universidade Federal do Paraná. E
Brazilian Journal of Political Economy, Vol. 31 No. 2 (2011), Apr-Jun / 2011, Pages 262-282


This paper aims at presenting and discussing some of behavioral models developed by Economic Psychology which is considered an irrelevant field of research for many economists yet. On highlighting the multidisciplinary convergence notably from economists’ interests by psychology, it is done emphasis to the discussion of the role played by methodological individualism in the psychological reduction of the homo economicus. Such a reduction has, on the one hand, made harder the conciliation between the individual and the collective level of analysis. On the other hand, it made closer economists and psychologists in the common interest of developing methods capable of understanding the economic behavior under a perspective which allows the integration of the complexity of collective dimension in which the individual makes part.

JEL Classification: B5; B59.

Keywords: economic psychology methodological individualism rationality Katona’s model Strümpel’s model Van Raaij’s model