Re-engaging with rationality in economic geography: behavioural approaches and the importance of context in decision-making

Abstract

Behavioural approaches have become mainstream in economics, supported by the research of cognitive scientists and psychologists, yet their findings have attracted little attention from geographers. This article argues for a renewed behavioural economic geography that builds on research in behavioural economics but also addresses one of its main shortcomings: a lack of engagement with the social context of decision-making. I outline a research agenda that bridges the gap between the disciplines in the area of pension decision-making, using the example of choice in UK occupational plans to argue for a mixed methodological approach to meet the challenge of taking context seriously.