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  • 1 Corvinus University of Budapest, Hungarian Academy of Sciences
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A basic principle of economics is that people always prefer a larger set of opportunities. Money illusion can be considered as the phenomenon when people may not correctly perceive their budget constraints, and may act in ways that run counter to this preference. In this interpretation, money illusion is a cognitive bias, worthwhile to overcome. Herein I argue that taking a view of human decision-making based on certain strands of cognitive psychology, one can reinterpret the evidence for money illusion in two ways. First, I claim that money illusion is inescapable to some extent, and saying that we suffer from it is similar to alleging that we experience optical illusions, only because we are unable to see, say, individual atoms. Second, taking a view on “preferences” different from the traditional one, I contend that it may bring little benefit to get rid of money illusion even in the cases where it is possible to do so. To follow up the visual analogy, even if we can improve our eyesight it is not obviously desirable. These arguments seem to lead to a Candidean disposition: there is no possible improvement on the state of affairs as far as “money illusion” is concerned. Nonetheless, I will make some positive proposals concerning economic policy and economics research.

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Senior editors

Editor(s)-in-Chief: Prof. Dr. Mihályi, Péter

Editor(s): Ványai, Judit

Editorial Board

  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Péter Halmai / Budapest University of Technology and Economics; National University of Public Service
  • Gábor Kézdi / University of Michigan
  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences
 

Advisory Board

  • Ǻslund, Anders
  • Kolodko, Grzegorz
  • Mau, Vladimir
  • Messerlin, Patrick A
  • Nuti, Mario Domenico
  • Wagener, Hans-Jürgen

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary

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2020  
Total Cites 275
WoS
Journal
Impact Factor
0,875
Rank by Economics 325/377 (Q4)
Impact Factor  
Impact Factor 0,534
without
Journal Self Cites
5 Year 0,500
Impact Factor
Journal  0,38
Citation Indicator  
Rank by Journal  Economics 347/549 (Q3)
Citation Indicator   
Citable 37
Items
Total 37
Articles
Total 0
Reviews
Scimago 13
H-index
Scimago 0,292
Journal Rank
Scimago Economics and Econometrics Q3
Quartile Score  
Scopus 225/166=1,4
Scite Score  
Scopus Economics and Econometrics 392/661 (Q3)
Scite Score Rank  
Scopus 0,668
SNIP  
Days from  289
sumbission  
to acceptance  
Days from  447
acceptance  
to publication  

2019  
Total Cites
WoS
212
Impact Factor 0,914
Impact Factor
without
Journal Self Cites
0,728
5 Year
Impact Factor
0,650
Immediacy
Index
0,156
Citable
Items
45
Total
Articles
45
Total
Reviews
0
Cited
Half-Life
3,9
Citing
Half-Life
9,5
Eigenfactor
Score
0,00015
Article Influence
Score
0,052
% Articles
in
Citable Items
100,00
Normalized
Eigenfactor
0,01891
Average
IF
Percentile
28,437
Scimago
H-index
12
Scimago
Journal Rank
0,439
Scopus
Scite Score
214/165=1,3
Scopus
Scite Score Rank
Economics and Econometrics 355/637 (Q3)
Scopus
SNIP
0,989

 

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Acta Oeconomica
Language English
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1966
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2021 Volume 71
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Founder Magyar Tudományos Akadémia
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ISSN 0001-6373 (Print)
ISSN 1588-2659 (Online)