08 January 2018 13:21:56 IST

Economics and the human instinct for storytelling

Have you heard of narrative economics?

You've probably heard of behavioural economics but now there's a new term -- narrative economics. Humans just love narratives and it's about time economists started looking at the narrative behind every action and reaction. Our love for narratives is so great that evolutionary biologist Stephen Jay Gould said we should be called Homo narrator instead of sapien!

To read more about narrative economics, check-out this article in Chicago Booth Review .