Opinion of Behavioral Economics?
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  Opinion of Behavioral Economics?		 « previous next »
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Poll
Question: What is your opinion of Behavioral Economics?
#1
Useful idea, that fills in the gaps in neoclassical theory		  
#2
Not that useful to study		  
#3
Has an agenda to destroy economics		  
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Total Voters: 2

Author Topic: Opinion of Behavioral Economics?  (Read 564 times)
phk
phknrocket1k
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« on: September 27, 2009, 05:12:05 PM »
So I'v been a cautious proponent of this style of economics. I was wondering what people on the forum think of taking a behavioral approach (and developing psychological/behavioral/cognitive/whatever) models to economics and finance?

This style of economics has been popularized by books such as Blink! and Nudge.
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phk
phknrocket1k
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« Reply #1 on: September 27, 2009, 05:51:34 PM »
Some viewpoints from working papers.

http://www.econ.upf.edu/docs/seminars/pesendorfer.pdf
http://weber.ucsd.edu/~jsobel/Papers/bernheim.pdf
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CARLHAYDEN
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« Reply #2 on: September 28, 2009, 12:53:22 AM »
Quote from: phknrocket1k on September 27, 2009, 05:12:05 PM
So I'v been a cautious proponent of this style of economics. I was wondering what people on the forum think of taking a behavioral approach (and developing psychological/behavioral/cognitive/whatever) models to economics and finance?

This style of economics has been popularized by books such as Blink! and Nudge.

Actually, it does explain a lot.

The run-up in the stock market is NOT very rational, but rather based on emortion.
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ag
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« Reply #3 on: September 28, 2009, 01:19:26 PM »
How about the fourth option:  it is (and has always been) an important branch of neo-classical theory Smiley
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Beet
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« Reply #4 on: September 28, 2009, 02:25:31 PM »
Neoclassicism is like the Borg.
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