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Keyword: economicsbehavioral

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  • Behavioral economics is moving from theory to policy

    12/21/2008 10:09:48 AM PST · by HawaiianGecko · 33 replies · 1,086+ views
    The Kansas City Star ^ | 12/20/2008 | RICK MONTGOMERY
    As the economy sinks and investors buckle over, the behavior buffs are rising up. From the lesser-appointed corners of academia, psychologists, sociologists and a youthful breed of economists scoff at the revered mathematical models that have driven economic thought and snared Nobel Prizes. These preachers of “behavioral economics,” including some on President-elect Barack Obama’s economic team, argue that humans cannot be relied upon to obey the efficient, orderly tenets espoused by free-market thinkers.