Behavioural economics — devoted to ideas it is supposedly attacking | LARS P. SYLL
Behavioral economics is still ‘in a relationship’ with orthodox economics and, in a relationship, one makes compromises ... We all know how stubborn the other side in this relationship is: standard economics will always ‘rationalize’ behavior wherever it can and will only recognize ‘irrationality’ when there is clear and convincing evidence of it. Understandably, behavioral…