Research Summary
Research Summary
Biological Basis of Economic Behavior
Description
Terry Burnham's research focuses on understanding human behavior, and economic behavior in particular, in the context of humans as evolved animals.
This research aims to reconcile two competing views within economics. The mainstream economic view is that economic behavior is a rational attempt to attain goals. In contrast, the behavioral economic school has documented robust and significant differences between human behavior and that predicted by the economic model of human behavior.
Terry Burnham's research investigates a number of the documented behavioral anomalies and finds their causes in the biological and evolutionary roots of behavior. Areas of particular interest include altruism, risky choices, and deferral of gratification.