[USFRIENDINVICTORIA]

The only new thing is the use of laboratory research -- similar to the way Behaviorists (Skinner et al) approached psychology in the 60's.

This research will probably lead to changes in several of the variables used in econometric modeling -- but the modeling will continue to advance. Mathematical modeling has grown along with the growth in computer power. Modeling (or theory building) used to be done using far fewer variables, and more human logic and intuition than computation. Humans used to be able to understand economic theories (whether or not they were right) -- no one really understands how the computer models work.

[A. Pole]

the modeling will continue to advance. Mathematical modeling has grown along with the growth in computer power.

Of course. As long as there are enough suckers willing to pay for this.