Hayes, S. P., Jr. (1952). Review of Psychological analysis of economic behavior. [Review of the book Psychological analysis of economic behavior. G. Katona]. Psychological Bulletin, 49(3), 276-279.
http://dx.doi.org/10.1037/h0051654
Review of the book, "Psychological analysis of economic behavior" (see record 1951-08005-000) by George Katona. The general thesis of this book is that economic behavior can only be understood, predicted, and controlled by utilizing psychological methods of research and analysis. The author devotes most of this book to raising psychological questions about the saving and spending decisions of consumers, the output, price, and investment decisions of businessmen and the attitudes and decisions of both consumers and businessmen under the special circumstances of inflation and wide fluctuations in business activity. This is an interesting and valuable book. It will be very useful for teaching purposes, and both psychologists and economists will benefit from its incisive demonstration of the gaps that exist in current economic materials-gaps which only psychological investigations are likely to fill. As a book that breaks through traditional ways of professional thinking and poses a multitude of new research problems of great significance, both for economists and for social psychology, this will, despite its incompleteness, be a landmark in the frontier discipline of psychoeconomics. (PsycINFO Database Record (c) 2016 APA, all rights reserved)