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Comment on Chapters 3 and 4

Comment on Chapters 3 and 4

(p.178) (p.179) Comment on Chapters 3 and 4
The Economics of Poverty Traps
Rachid Laajaj
University of Chicago Press

Psychology has gone a long way in the analysis of personality, emotions, and mental states that can lead individuals to make decisions that classical economics would consider irrational. Economics provides a number of tools that allow the analysis of how such phenomena might affect poverty dynamics. A first step necessary to make progress in this area is for economists to assimilate the rich literature from psychology and other fields before integrating such insights into economic models....

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