Taking stock of interdisciplinarity as it nears its century mark, the Oxford Handbook of Interdisciplinarity constitutes a major new reference work on the topic of interdisciplinarity, a concept of growing academic and societal importance.

This target article is concerned with the implications of the surprisingly different experimental practices in economics and in areas of psychology relevant to both economists and psychologists, such as behavioral decision making. We consider four features of experimentation in economics, namely, script enactment, repeated trials, performance-based monetary payments, and the proscription against deception, and compare them to experimental practices in psychology, primarily in the area of behavioral decision making. Whereas economists bring a precisely defined “script” to experiments for participants to (...) enact, psychologists often do not provide such a script, leaving participants to infer what choices the situation affords. By often using repeated experimental trials, economists allow participants to learn about the task and the environment; psychologists typically do not. Economists generally pay participants on the basis of clearly defined performance criteria; psychologists usually pay a flat fee or grant a fixed amount of course credit. Economists virtually never deceive participants; psychologists, especially in some areas of inquiry, often do. We argue that experimental standards in economics are regulatory in that they allow for little variation between the experimental practices of individual researchers. The experimental standards in psychology, by contrast, are comparatively laissez-faire. We believe that the wider range of experimental practices in psychology reflects a lack of procedural regularity that may contribute to the variability of empirical findings in the research fields under consideration. We conclude with a call for more research on the consequences of methodological preferences, such as the use on monetary payments, and propose a “do-it-both-ways” rule regarding the enactment of scripts, repetition of trials, and performance-based monetary payments. We also argue, on pragmatic grounds, that the default practice should be not to deceive participants. Key Words: behavioral decision making; cognitive illusions; deception; experimental design; experimental economics; experimental practices; financial incentives; learning; role playing. (shrink)

The essays in this volume consider the question of whether the self is a unity or whether it should be conceived without metaphor as divided - as a 'multiple self'. The issue is a central one for several disciplines. It bears directly on the account of rationality and the explanation of individual decision-making and behaviour. Is the hypothesis of a multiple self required to deal with the problems of self-deception and weakness of will; and can the conceptual tools developed in (...) the study of interpersonal conflict be applied to the analysis of intra-personal struggle? Most of the essays, by a number of leading philosophers, psychologists and economists, appear here for the first time. They bring out the interdisciplinary importance of the question, and will interest readers in all those areas. The volume will also usefully supplement The Foundations of Social Choice Theory, edited by Jon Elster and Aanund Hylland, which appears in the same series and is also concerned with the foundations of rationality. (shrink)

ABSTRACT The list of proposed addictions has recently grown to include television, videogames, shopping, day trading, kleptomania, and use of the Internet. These activities share with a more established entry, gambling, the property that they require no delivery of a biological stimulus that might be thought to unlock a hardwired brain process. I propose a framework for analyzing that class of incentives that do not depend on the prediction of physically privileged environmental events: people have a great capacity to coin (...) endogenous reward; we learn to cultivate it, and, where it is entrapping, to minimize it, by managing internally generated appetites for it. The basic method of cultivating endogenous reward is to learn cues that predict when best to harvest the reward that has been made possible by the growth of these appetites. This hedonic management occurs in the same motivational marketplace as the instrumental planning that seeks environmental goods in the conventional manner, and presumably obeys the same laws of temporal difference learning; but these laws are no longer limiting. Furthermore, instrumental contingencies often provide the most productive structure for hedonic management as well, for reasons that I discuss; but the needs of hedonic management create incentives both to pursue instrumental goals in a suboptimal manner and to avoid noticing how the hedonic incentive affects this pursuit. The result is the apparent irrationality that is often observed in process addictions. (shrink)

Psychology is a young science. It has made great strides over the past 100 or so years, to become one of the most rapidly growing of the sciences. This book brings together some of the most influential psychologists from the past 50 years to consider just how we got to where we are in psychology, and where we might be heading.

ArgumentThe main contribution of the Alfred P. Sloan and Russell Sage Foundations' behavioral economics program (1984–1992) was not the resources it provided, which were relatively modest. Instead, the program's contribution lay in catalyzing “a sense of mission” in the collaboration between psychologists Daniel Kahneman and Amos Tversky, economist Richard Thaler, and their associates. Partly this reflected the common strategy of American foundations to pick an individual or small group of scientists and stick with them until scientific success had been achieved. (...) But moreover, it was a consequence of the careful management of the program's director Eric Wanner. The various actors involved in the behavioral economics program constructed a new behavioral economic sub-discipline in economics by tapping into existing missionary sentiments in the economic and psychological disciplines, while at the same time actively shaping this sense of mission. (shrink)

The models of internal self-control that have recently been proposed by behavioral economists do not depict motivational interaction that occurs while temptation is present. Those models that include willpower at all either envision a faculty with a motivation (“strength”) different from the motives that are weighed in the marketplace of choice, or rely on incompatible goals among diverse brain centers. Both assumptions are questionable, but these models’ biggest problem is that they do not let resolutions withstand re-examination while being challenged (...) by impulsive alternatives. The economists’ models all attempt to make a single equilibrium preference predictable from a person’s prior incentives. This was the original purpose of these models’ hyperboloid (“β–δ”) delay discount functions, which have been widely justified by the assumption that a person’s intertemporal inconsistency (impulsiveness) can be accounted for by the arousal of appetite for visceral rewards. Although arousal is clearly a factor in some cases of intertemporal inconsistency, it cannot be blamed for others, and furthermore does not necessarily imply hyperboloid discounting. The inadequacy of β–δ functions is particularly evident in models of internal self-control. I have reviewed several of these models, and have argued for a return to pure hyperbolic discount function as originally proposed, the relatively high tails of which can motivate a recursive process of self-prediction and thereby the formation of self-enforcing intertemporal contracts. Such a process does not require a separately motivated faculty of will, or incompatible goals among brain centers; but it also does not permit the prediction of unique preferences from prior incentives. (shrink)