Sunday, February 11, 2001

Some Economists Call Behavior a Key

If behavioral economics can bring cognitive psychology to the table of economic theory the result could be a richer, more realistic model of how people make economic decisions. The above-mentioned article in the New York Times introduces the approach.

This article from the Times Magazine Section, "Exuberance Is Rational", details Lawrence Thaler's work.

Its title plays off the title of the most popular book-length exposition of behavioral economics recently, Robert Shiller's Irrational Exuberance

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