Homo Experiens, the Biology of Decision-Making, and Behavioral Economics - Conversable Economist (opens in new tab)

The standard definition of “behavioral economics” is that it brought insights from psychology to bear on economic decision-making: that is, concepts like using rules-of-thumb in situations with limited information, valuing the present over the future, difficulties in perceiving probabilities accurately, habit formation, peer effects, and more. But the most recent edition of the Behavioral Economics … Continue reading Homo Experiens, the Biology of Decision-Making, and Behavioral Economics The...