Abstract
Economic psychology studies the economic behavior of consumers and entrepreneurs. Economic behavior involves decisions on money, time, and efforts. The models of Katona and Strümpel are discussed and a new model is proposed. This new model stresses the cyclical character of economic behavior on a micro and a macro level. Economic psychology is related to organizational psychology, marketing research, mass communication research, economic sociology, and the household production approach. A proposition of the aims and scope of the Journal of Economic Psychology concludes this introductory article.
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