Psychology and the economics of invention

Research output: Contribution to journalComment/debatepeer-review


Invention is an investment in which the costs of the Research and Development (R&D) project balance future returns. Those returns depend on objective factors like wage and capital costs but also on subjective factors because they are future projections. The more optimistic the inventor, the higher are the projected returns. Baumard uses Life History Theory (LHT) to relate optimism to the affluence of inventors and their societies.

Original languageEnglish (US)
Pages (from-to)e191
JournalThe Behavioral and brain sciences
StatePublished - Nov 20 2019

ASJC Scopus subject areas

  • Neuropsychology and Physiological Psychology
  • Physiology
  • Behavioral Neuroscience


Dive into the research topics of 'Psychology and the economics of invention'. Together they form a unique fingerprint.

Cite this