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Jan 16 2008
3:17PM
EST
What Behavioral Economics Is All About
The desire to modify standard economics to take behavior into account. To move it away from naive psychology (which often fails the tests of reason, introspection, and-most importantly-empirical scrutiny), and turn it into a study that encompasses the complexity of human behavior, and more importantly making it better suited to make recommendations that would help saving, education, healthcare etc.
From a new blog by M.I.T. economist Dan Ariely tied to his new book Predictably Irrational. I read and would highly recommend the book if you're looking for case after case of the failure of rational man.
Ariely tells me he plans to post at least once a week (there are two posts up now) and to post videos related to each chapter in the book.
You can read about his research into the dynamics of Hot or Not here.
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