In search of the economic self

Abstract: Economic theory and data are reviewed in the light of the concept of an economic self. In psychology, the self is in principle held to be a unified entity underlying all decisions, but in practice this unity is undermined by failures of transparency and complications of reflexivity. Current economic theory is found to be deficient in not recognising a self, but economic data confirm that the unity of the self is not absolute. A fuller account of the economic self will require a recognition of the role of human nature and emotions such as pride in forming economic tastes. [Copyright &y& Elsevier]