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From Cashews to Nudges: The Evolution of Behavioral Economics
Ist Teil von
The American economic review, 2018-06, Vol.108 (6), p.1265-1287
Ort / Verlag
Nashville: American Economic Association
Erscheinungsjahr
2018
Quelle
BSC - Ebsco (Business Source Ultimate)
Beschreibungen/Notizen
In the beginning there were stories. People think in stories, or at least I do. My research in the field now known as behavioral economics started from real life stories I observed while I was a graduate student at the University of Rochester. Economists often sneer at “anecdotal data” and I had less than that—a collection of anecdotes without a hint of data. Yet, each story captured something about human behavior that seemed inconsistent with the economic theory I was struggling to master in graduate school. Behavioral economics has come a long way from my initial set of stories. The current generation of behavioral economists are using all the modern tools of economics, from theory to big data to structural models to neuroscience, and they are applying those tools to most of the domains in which economists practice their craft. This is crucial to making descriptive economics more accurate.