Narrative Economics and Behavioral Economics:

Vol. 41 No. 2 (2021)

Apr-Jun / 2021
Published March 30, 2021
PDF-English
PDF-English

How to Cite

Freitas, Gabriel Vilela Resende. 2021. “Narrative Economics and Behavioral Economics: : Contributions to the Behavioral Insights on Post-Keynesian Theory”. Brazilian Journal of Political Economy 41 (2), 372-84. https://doi.org/10.1590/0101-31572021-3191.

Narrative Economics and Behavioral Economics:

contributions to the behavioral insights on post-Keynesian theory

Gabriel Vilela Resende Freitas
Universidade Federal de Uberlândia, Uberlância/MG, Brasil.
Brazilian Journal of Political Economy, Vol. 41 No. 2 (2021), Apr-Jun / 2021, Pages 372-384

Abstract

The objective of this review is to discuss the formation of knowledge proposed by Keynes on his Treatise on Probability, and the economic agents’ behavior in an uncertainty scenario presented on his General Theory, by the Narrative Economics’ and Behavioral Economics perspectives. The hypothesis that will be analyzed is that in a keynesian uncertainty scenario, economic agents tend to act according to their context (social, geographic, historic, cultural) spreading narratives by which they identify themselves and orient decisions that cause sensible movements on the economic aggregates. Revisiting the literature, we could conclude that by bringing together the behavioral economy and the narrative economy theory, we could, from the Keynes’ insights on his writings, perceive strong empirical evidence that can be analytically important on the assessment of the economic fluctuations.

JEL Classification: B50.


Keywords: Keynes, Narrative Economics, Behavioral Economics