AO: “Many psychologists in this subfield are now realizing that in order for their theories to have an impact outside psychology, in areas such as economics, law, and politics, they need to come up with theories that are actually robust and feasible in the field. (Because one of the problems economists often have with psychological theorizing is that it remains too vague and situation specific.) This remains a great challenge for psychologists.” (389)
AO: shared language. “This not only results in cross-fertilization and cooperation between the two groups, it also leads to the emergence of a common language. We consider this latter development to be a crucial one, since in order to be able to share a perspective, one needs to share a language (and the ideas that are attached to it).” (390)
AO: organization of meetings. “organization of meetings specifically aiming at participation by research- ers from both economics and psychology” (390)
AO: Not mentioned.
AO: Not mentioned.
AO: Not mentioned but the creation of numerous journals that touch on econ and psych are noted.
AO: Shared topic interests (e.g. discussion about the self-interested nature of people; historically different opinion with regard to the rationality of people).
AO: the analysts argue that psychology and economics are merging into a new single, distinct perspective (economic-psychology). They argue that it is becoming a collaborative field because those working at the intersection are becoming more similar and developing a shared language.
“Most people working at the cross-section of economics and psychology share many features: they share re- search topics, such as interpersonal interaction, interdependence, games, judgment, decision-making, consumer behavior. They also use the same or similar methods. Both use lab experiments and field data; both groups are interested in behavior as expressed in the field as well as the more theoretical underpinnings of this behavior.”
AO: The greater convergence between the fields of psychology and economics which has led to distinct field of behavioral economics.
“Analysts note the dual origin (Behavioral Economics (started by economists in the US) and Economic Psychology (started by psychologists in Europe)) but argue that the fields are converging and that the “collaborative potential of psychology and economics is materialized” (388).
AO: The analysts note that increasingly, the only way to identify whether someone is a psychologist or economist is to look at their institutional affiliation.
AO: Not discussed although it is suggested that greater collaboration between economists and psychologists can lead to better policy and “efficiency of interventions” (390)
AO: The analysts heavily cite a 1994 article by Lopes in the “Annual Review of Psychology” that argued that psychologists and economists view one another with suspicion and distaste to argue that is no longer the trend.