José Luis de Ramón puts a book on behavioral economics into circulation
The economist, Outstanding Graduate of the Instituto Tecnológico de Santo Domingo (INTEC), presented his book at an event held at his alma mater, surrounded by colleagues, family, friends and students majoring in Economics.
SANTO DOMINGO. - The economist José Luis de Ramón put into circulation the book “Introduction to behavioral economics” in which, after studying the real functioning of the brain, Compare conventional economics with behavioral economics, to get to conclusions about the limits of rationality and the real behaviors of economic agents.
El Outstanding alumni, past regent y he teaches of the Instituto Tecnológico de Santo Domingo (INTEC), maintains in his book that the human decisions are influenced by biases y quick decision making and they look affected by phenomena as points of reference, There, the frames, the calculation of probabilities, the “priming”, Anglicism with which the influence of a stimulus in search of an expected response is defined; tunnel vision , the ranges and principles of equity among other aspects.
De Ramón highlighted that the text under his authorship studies how human beings really behave when faced with such important issues as savings, consumption decisions, the value of money and risk and the way in which this real behavior impacts decisions. from personal finances to macroeconomic phenomena.
““Happiness” and its relationship with money are analyzed. Examples of practical applications of behavioral sciences are given. Finally, recommendations are offered to free yourself from cognitive restrictions and make better decisions,” he noted.
De Ramón stated that the conventional economics assumes that economic agent (Homo economicus) behaves following certain axioms; and from these, applying logic, he deduces how he will behave in his economic acts. Thus, it is assumed a rational behavior and maximizer in their consumption and savings decisions, and predicts their response to specific stimuli.
He said that, on the contrary, behavioral economics first observes the behavior of economic agents and after observing it tries to make a realistic forecast about economic behavior.
By offering a few words, Julio Sanchez Marinez, rector of INTEC, recognized the efforts of José Luis de Ramón in writing his book, since he developed that activity at the same time as his work as a teacher and his professional practice.
El Economist Freddy Domínguez, a friend of the author, was in charge of his profile. Speak about him early interest de José Luis de Ramón on behavioral economics or behavior. He highlighted that before he turned 20 he was already a university professor and indicated that he is also a “super economist and business administrator, with a master's degree in Psychology.”
“This intensity in José Luis's academic environment also translated into his work career, being a director of leading companies in the Dominican productive system, being a premium consultant in the Dominican Republic, being a top-level strategist and a great negotiator,” he said. Domínguez, while evaluating the economist's actions in favor of improving the quality of education in the country.
The former rector of INTEC, Rolando Guzmán, was in charge of the presentation of the work, and made a description of it in which he maintained that three different works are contained in the book. "The first is a textbook that explains with the voice of a teacher a discipline still under construction, it is an entertaining and instructive work, in which the reader notices the sincere passion of someone who has a vocation to teach."
“The second work is an experiment full of cases, stories and anecdotes whose essential purpose is to provoke the reader and demonstrate that economics does not have to be boring. A third work is an act of prosecution where the author accuses conventional economic theory of being useless in understanding the behavior of the real economy,” said Guzmán.
About the Author
José Luis De Ramón Picazo teaches the Chair of Behavioral Economics at the Instituto Tecnológico de Santo Domingo (INTEC) and at the Pontifical Catholic University Mother and Teacher in Santo Domingo.
Since his retirement as managing partner of Deloitte in the Dominican Republic in 2020, he directs the Wesley Partners investment fund. He has a bachelor's degree in Economics and a master's degree in Business Administration from INTEC and a master's degree in Psychology from the University of León, Spain, with specialization courses at Cornell University and the University of Chicago.
He is a Full Member and coordinator of the Economics Commission of the Academy of Sciences of the Dominican Republic and is the editor of the Dominican Journal of Economics published by the Academy. He is also a jury for the National Economic Award sponsored by the Central Bank.
He is a frequent columnist and lecturer on economic topics. In. In 2024 he published “Economic Structure of the DR”, together with the Spanish professor Ramón Tamames. He had previously published two books on economic development: "Volver a grow", in 2004, and "Los challenges de la República Dominicana" in 2012.
INTEC authorities, teachers from the Economics major, students and graduates of that degree were present at the launch carried out in the Auditorium of the INTEC Social Security Observatory.
The book “Introduction to behavioral economics” was published by Editorial INTEC. Since its inception, the university has claimed editorial work as an element of expression consubstantial to each of the three essential axes or columns of university work, namely, teaching, research and extension/linkage with society.