Comments on: The overselling of behavioral economics http://blogs.reuters.com/great-debate/2013/11/20/the-overselling-of-behavioral-economics/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: TheSmallR http://blogs.reuters.com/great-debate/2013/11/20/the-overselling-of-behavioral-economics/#comment-78270 Thu, 21 Nov 2013 14:03:26 +0000 http://blogs.reuters.com/great-debate/?p=26069#comment-78270 Academics such as Diener, Tversky and Kahneman generated some significant insights in the early days of behavioral economics (late ’70s/early ’80s). Unfortunately, behavioral economics has devolved into a discipline that attempts to force psychological/human behavioral effects into supporting 19th-century neoclassical economic theory, theory that was created a priori, with no empirical evidence supporting it then, or now. The goal of behavioral economics has become one of trying to legitimize the emissions coming from the neoclassical economics bull. Sad.

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By: tribalpeace http://blogs.reuters.com/great-debate/2013/11/20/the-overselling-of-behavioral-economics/#comment-78263 Thu, 21 Nov 2013 06:36:44 +0000 http://blogs.reuters.com/great-debate/?p=26069#comment-78263 Garbage in, garbage out. Since the “psychology” that they have been using is unscientific crap devoid of the knowledge that humans evolved, they fail over and over. Yes, even human brains and behavior evolved, they are not infinitely flexible, and we did not evolve to be “rational actors.” Gad Saad has been working the last decade, basically alone, to establish what the marriage of economics with a real scientific understanding of human behavior will look like. Until his work spreads into the halls of power, we will have policies based on absurd impossible notions that are passed off as “psychology.”

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By: DurtBagg http://blogs.reuters.com/great-debate/2013/11/20/the-overselling-of-behavioral-economics/#comment-78259 Thu, 21 Nov 2013 03:40:55 +0000 http://blogs.reuters.com/great-debate/?p=26069#comment-78259 Harvard Law Review
Deregulation: A Major Cause of the Financial Crisis
The articles in this issue explore the importance of government regulation of business in protecting the health and welfare of the American people. – http://tiny.cc/p837aw

SEC Chairman Cox Admits Deregulation Caused Crisis
Bush Appointee Christopher Cox admitted the credit crisis was due to deregulation. http://tinyurl.com/7frecql

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By: Jim1648 http://blogs.reuters.com/great-debate/2013/11/20/the-overselling-of-behavioral-economics/#comment-78258 Thu, 21 Nov 2013 03:37:18 +0000 http://blogs.reuters.com/great-debate/?p=26069#comment-78258 It all sounds like broad academic generalizations that attempt to avoid thinking about the real situation at hand. They should go back to their ivory towers where they can’t do much harm. Their students will ignore them anyway.

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By: Bzupnick http://blogs.reuters.com/great-debate/2013/11/20/the-overselling-of-behavioral-economics/#comment-78253 Wed, 20 Nov 2013 21:58:45 +0000 http://blogs.reuters.com/great-debate/?p=26069#comment-78253 Sounds a lot like this is related to the insurance policy cancellations wrt the ACA. People do not have the information or foresight needed to make optimal insurances choices–that is essentially what insurance is all about, protecting us from the unknown.

Now we have a law that tries to regulate the insurance market instead of relying on disclosure. People are mad that their policies are getting cancelled, even though those policies were likely inadequate to begin with.

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