Review of Behavioral Economics > Vol 9 > Issue 2

Unorthodox Economic Dynamics: A Tribute to Dick Day

Alan Kirman, CAMS, EHESS Paris, France,
Suggested Citation
Alan Kirman (2022), "Unorthodox Economic Dynamics: A Tribute to Dick Day", Review of Behavioral Economics: Vol. 9: No. 2, pp 107-118.

Publication Date: 07 Jun 2022
© 2022 A. Kirman
Behavioral economics,  Bounded rationality,  Psychology,  Asymmetric information,  Game Theory,  Economic theory,  Nonstationary time series
JEL Codes: A11, D81, D90, E71, G41
Dynamicslearningcatastrophe theoryout of equilibrium behaviourmacroeconomic dynamics


Download article
In this article:
1. Introduction 
2. Learning 
3. Our Common Interests: Out of Equilibrium and Catastrophes 
4. Rationality and Microfoundations 
5. JEBO and Behavioral Economics and Emergent Phenomena 
6. Herd Behavior 
7. Consilience 
8. Deviating from Standard Theory to Climb a More Interesting Mountain 
9. Recent Progress Down the Road that Day Took on Decision Theory 
10. Computational Models and Decision Making 
11. Conclusion 


This is a tribute to Dick Day, who had a vision of economics which was ahead of his time. I give a short personal account of those of his interests: economic dynamics, rationality, the applications of catastrophe theory and computational models. I describe the interests that we had in common, particularly in learning and herd behavior. He was a worthy member of the distinguished and pioneering group which included Herb Simon and Reinhard Selten.



Review of Behavioral Economics, Volume 9, Issue 2 Special Issue Honoring Richard H. Day: Articles Overiew
See the other articles that are part of this special issue.