Bamboozled by biases

There Is More to Behavioral Economics Than Biases and Fallacies

Compared to just a few years ago, the term behavioral economics has gained tremendous currency. To say it is on everyone’s lips would be only a minor exaggeration. For the scientists and practitioners in the field, this emergence from relative obscurity should, at first glance at least, be a source of happiness. One reason for this growing interest is the way behavioral economics has been presented and interpreted. Behavioral economics is, it seems, the field that confronts us with our deeply irrational selves. ….[READ]